Binance Coin (BNB) is a cryptographic currency created by the cryptocurrency exchange Binance. It is the native currency of the Binance blockchain and can be used as a payment method for trading fees on the exchange. Binance Coin is also used to participate in various other features on the platform, such as participating in Binance Launchpad token sales, paying for VIP membership on the platform, and participating in referral programs.

Binance Coin is built on the Ethereum blockchain and uses the ERC-20 standard. Binance Coin offers utility value and can be traded on several cryptocurrency exchanges, including Binance itself.

The Binance Coin has a limited circulating supply of 200 million units, which is constantly being reduced through coin burn events. Binance re-invests 20% of its quarterly profits into a pool of Binance Coins. The coins are then destroyed to keep the circulating supply under control, which in turn creates a deflationary effect, with the value of the remaining coins increasing over time.