Binance Coin (BNB) is the native asset of the Binance ecosystem, one of the largest and most active digital asset platforms in the world. Launched in 2017,&nbsp;<a href="https://cryptal.com/en/blog/what-is-binances-cryptocurrency-bnb">BNB</a> was originally created as a utility token for trading fee discounts, but it has since evolved into a powerful multi-use asset supporting payments, decentralized applications, and blockchain operations across the BNB Chain.BNB Chain consists of two main components — BNB Beacon Chain (governance) and BNB Smart Chain (smart contracts). Together, they offer fast transactions, low fees, and compatibility with Ethereum-based tools, which has driven strong developer adoption. Many users choose to Buy BNB to participate in DeFi, staking, token launches, and ecosystem services.The BNB Price often reflects activity across the ecosystem, including dApp growth, market demand, and major upgrades. With its wide utility, strong community, and expanding infrastructure, Binance Coin remains one of the most influential digital assets in the global market.

<h1>Introduction: Everything about Binances’ Cryptocurrency BNB</h1>Whether you're a newcomer to the cryptocurrency world or a seasoned investor, Binance and its native cryptocurrency BNB have likely crossed your radar. In this blog, we delve deep into the realm of BNB, unraveling its intricacies, advantages, and utility.&nbsp;Additionally, we'll provide insights into how to effectively utilize and purchase BNB while exploring various cryptocurrency projects and evaluating their investment potential.

Introduction: Everything about Binances’ Cryptocurrency BNB

<h2>What is BNB Coin (BNB)?</h2>Binance coins serve as tokens utilized within the <a href="https://www.binance.com/en">Binance platform</a>. While they're subject to market trading and value fluctuations, they function akin to traditional currencies such as the U.S. dollar or Bitcoin.Despite this, the utility of the Binance coin remains significant, leading to its ongoing value appreciation.Initially established as an altcoin, Binance coin was built upon the ERC-20 standard, leveraging the Ethereum network and blockchain. This adherence to Ethereum's community rules ensures compliance and stability.Moreover, this integration affords Binance coin the security and reliability inherent in the Ethereum blockchain. Users can trust in the safeguarding of their assets against potential threats like <a href="https://cryptal.com/en/blog/51-attack">51% attacks</a> or double-spending scenarios.However, a pivotal shift occurred in April 2019, when Binance transitioned BNB to its native mainnet. Concurrently, they executed the burning of 5 million ERC-20 BNB tokens and allocated equivalent BEP-2 native BNB tokens to designated wallets.Initially, Binance encouraged users to convert their ERC-20 BNB tokens to native BEP-2 tokens. Despite this, as of November 2019, Binance still supports ERC-20 tokens, allowing users the option to convert to BEP-2 tokens. Withdrawal of ERC-20 tokens is no longer feasible.

What is BNB Coin (BNB)?

<h2>Binance and BNB Blockchain</h2>The Binance Chain offers various functionalities, including token creation to digitize existing assets, facilitating token transfers, burning/minting tokens, and freezing/unfreezing assets.Furthermore, users can monitor the decentralized exchange (DEX) market to track asset prices and market activity. They can also delve into the transaction history and blocks on the chain through the Binance Chain Explorer, API, and node RPC interfaces.Additionally, the Binance Chain allows for the extraction of diverse data via full nodes or APIs, empowering developers to create tools and applications to enhance user experience on the Binance Chain and Binance DEX. Naturally, users can execute transactions to send and receive BNB tokens.Employing a modified version of Tendermint BFT consensus, the Binance Chain leverages Tendermint's modular architecture originally developed for the Cosmos network. This architecture facilitates various objectives, including providing networking and consensus layers for a blockchain platform accommodating different decentralized applications.

Binance and BNB Blockchain

<h3>What are the Benefits of BNB Blockchain?</h3><ul style="list-style-type:disc;"><li>Full Control:&nbsp;Traders on the Binance Chain retain full control of their funds and private keys, as there is no custody of funds by any centralized entity. This setup ensures that users have complete autonomy over their assets, enhancing security and trust in the platform. &nbsp;</li><li>Low Fees:&nbsp;Binance Chain offers low-cost transactions, minimizing both fees and liquidity costs for users. This affordability makes it an attractive option for traders seeking efficient and cost-effective blockchain transactions. &nbsp;</li><li>Development: The Binance Chain is designed to be evolvable, allowing for continuous development and improvement leveraging advancements in technology stack, architecture, and innovative ideas. This adaptability ensures that the platform remains at the forefront of technological progress, catering to evolving user needs and industry standards.</li></ul>

What are the Benefits of BNB Blockchain?

<h2>How to Buy Cryptocurrency BNB (BNB)?</h2>When looking to purchase the cryptocurrency BNB, you have multiple options available in the crypto market. Both Binance and Cryptal provide avenues for acquiring BNB.However, Cryptal stands out by offering the simplest, most convenient, and fastest method to purchase BNB, all while minimizing costs and fees. This makes Cryptal a preferred choice for those seeking an efficient and cost-effective way to acquire&nbsp;BNB. How to do that?<ul style="list-style-type:disc;"><li><a href="https://cryptal.com/ex/convert/BNB-TOGEL">Convert</a>: is an expedited method tailored for users seeking swift and immediate acquisition of BNB or any other cryptocurrency, bypassing superfluous procedures. Simply specify the desired currency and amount for purchasing BNB, and within seconds, the cryptocurrency will seamlessly reflect in your wallet, ensuring a hassle-free experience. <img src="https://landing-back-static.cryptal.com/bitcoin_english_204750fb93.gif"> - Using the Convert function requires no experience - With the Convert function, you can purchase cryptocurrency instantly &nbsp;</li><li><a href="https://cryptal.com/ex/BNB-TOUSD">Spot Exchange</a>: serves as a platform facilitating the exchange of cryptocurrencies between buyers and sellers in a secure and user-friendly environment. Geared towards moderately experienced traders, it provides a reliable venue for executing cryptocurrency transactions with ease and confidence. - Spot Exchange allows you to buy BNB with the Best price available as you determine the Buy Limit.&nbsp;</li></ul>&nbsp;As previously mentioned, acquiring BNB on its native platform Binance entails undergoing the registration and verification process. However, it's essential to note that purchasing crypto directly on Binance typically incurs a 4% fee.Many users fall into the trap of buying BNB on Binance solely due to its status as a native cryptocurrency platform. Yet, there exists a more cost-effective method.By leveraging Cryptal, users can purchase the USDT stablecoin, which can then be transferred to Binance at zero cost. Subsequently, users can exchange USDT for BNB on Binance at a mere 0.1% commission, courtesy of Cryptal.This approach is particularly advantageous given the impossibility of depositing fiat currency directly on Binance, necessitating the use of fiat currency to acquire crypto assets. By following this strategy, users can save significantly on transaction costs while obtaining their desired cryptocurrencies efficiently.

How to Buy Cryptocurrency BNB (BNB)?

<h2>Review &amp; Rate of Cryptocurrency BNB</h2>In this section, we will assess the cryptocurrency BNB as a crypto project, utilizing a 5-point system&nbsp;where 5 represents the highest rating and 1 is the lowest. We will evaluate the following criteria: the team behind BNB, the project Whitepaper, communication channels, and the marketing of the project, The Investors, and the authenticity of the Data provided. These factors are crucial in determining the overall health and viability of the project, often influencing traders' decisions when investing in cryptocurrencies.Please note that all ratings and opinions expressed are entirely subjective.

Review & Rate of Cryptocurrency BNB

<h3>BNB Team: 5/5</h3><img class="image_resized" style="width:25%;" src="https://landing-back-static.cryptal.com/image_d5502eba1e.png" alt="A yellow star on a black background

Description automatically generated">The team behind BNB receives the maximum rating of 5 points. Each team member is verified and possesses substantial experience in finance and cryptocurrency, instilling confidence in their ability to drive the project forward successfully.

BNB Team: 5/5

<h3>BNB Whitepaper: 4/5</h3><img class="image_resized" style="width:25%;" src="https://landing-back-static.cryptal.com/image_54b62c2980.png" alt="A yellow star on a black background

Description automatically generated">Based on the assessment, the&nbsp;<a href="https://whitepaper.io/document/10/binance-whitepaper">Whitepaper</a> of BNB receives a rating of 4 points out of 5. The document is deemed comprehensive and clear, effectively addressing challenges, risks, and solutions pertaining to the project. While it provides valuable insights, there may be minor areas for improvement to achieve a perfect score.

BNB Whitepaper: 4/5

<h3>BNB Channels: 5/5</h3><img class="image_resized" style="width:25%;" src="https://landing-back-static.cryptal.com/image_52fe9a4a46.png" alt="A yellow star on a black background

Description automatically generated">Given the extensive presence of BNB across major and reputable communication channels, it deserves the maximum rating of 5 points. The project ensures streamlined communication with users through various platforms, enhancing accessibility and engagement with the community.

BNB Channels: 5/5

<h3>BNB Marketing: 5/5</h3><img class="image_resized" style="width:25%;" src="https://landing-back-static.cryptal.com/image_7a14c94245.png" alt="A yellow star on a black background

Description automatically generated">BNB's extensive ecosystem and robust marketing efforts warrant the highest rating of 5 points. Binance has invested significant resources and effort into promoting the project to customers, resulting in widespread awareness and adoption within the cryptocurrency community.

BNB Marketing: 5/5

<h3>BNB Investors: 5/5</h3><img class="image_resized" style="width:25%;" src="https://landing-back-static.cryptal.com/image_e824035c18.png" alt="A yellow star on a black background

Description automatically generated">Based on the criterion of investor credibility, BNB earns the maximum rating of 5 points. The project boasts numerous investors, with Binance itself serving as a prominent and reputable investor. This investment from Binance enhances the project's credibility and underscores its seriousness within the cryptocurrency space.

BNB Investors: 5/5

<h2>Sum-up of BNB Project</h2>BNB, a cryptocurrency supported by the Binance Smart Chain, offers convenient accessibility through both Cryptal and its native platform, Binance. As per&nbsp;<a href="https://coinmarketcap.com/currencies/bnb/">CoinMarketCap</a>, BNB currently trades at approximately $355, ranking as the 4th largest cryptocurrency globally by market capitalization.In our subjective evaluation, BNB garners a positive overall assessment, with a maximum score achieved in 4 out of 5 criteria. This reflects the project's strong fundamentals, robust ecosystem, effective communication channels, and extensive marketing efforts, contributing to its prominent position within the cryptocurrency market.

Sum-up of BNB Project

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In this blog, we delve into the intricacies of Binance Coin (BNB), shedding light on its functionality, utility, and the optimal methods for purchasing this cryptocurrency. Additionally, we provide a comprehensive review and evaluation of the BNB crypto project.

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What is Binances' Cryptocurrency BNB?

BNB is the native token of the BNB Chain ecosystem, used for trading fees, staking, and dApps.&nbsp;

What is BNB?

You can buy BNB on Cryptal via Visa/Mastercard, exchange trading, or Convert.&nbsp;

How can I buy BNB?

BNB powers one of the largest blockchain ecosystems with fast, low-cost transactions.&nbsp;

Why is BNB widely used?

BNB’s price is influenced by market volatility and ecosystem demand.&nbsp;

Is BNB risky?

Yes, withdraw BNB to any wallet that supports BEP-20 or ERC-20 (depending on your needs).

Can I withdraw BNB?

Frequently Asked Questions about BNB

Buying Binance Coin (BNB) on Cryptal is quick, convenient, and ideal for anyone exploring the BNB Chain ecosystem.

Create your Cryptal account and complete verification to ensure secure access to BNB purchases.

Registration & Verification

Top up with GEL, USD, or EUR using Visa/Mastercard, wire transfer, or cash. Once your balance is funded, you’re ready to Buy BNB instantly.

Top Up Your Balance

Select your preferred method:<ul><li><a href="https://cryptal.com/ex/buy/choose?currency=BNB&amp;flow=card&amp;fiat=USD">Direct card purchase</a> for immediate BNB access;</li><li>Convert to exchange any supported asset for Binance Coin with one click;</li><li>Spot Exchange to trade at the current BNB Price in real time.</li></ul>

Buy Binance Coin

How to Buy BNB on Cryptal

Tether (often called by its short code USDT) is a cryptocurrency with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether is the most popular stablecoin, as it was originally designed to always be worth US$1.00, maintaining $1.00 in reserves for each tether issued.

Bitcoin (BTC or ₿) is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.&nbsp;

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011. In technical details, Litecoin is nearly identical to Bitcoin. It is a source code fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.Litecoin was released via an open-source client on GitHub on October 7, 2011. The Litecoin network went live on October 13, 2011.&nbsp;

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH or Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, Ether is second only to Bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin. In 2014, development work commenced and was crowdfunded. The network went live on July 30, 2015. In September 2022, Ethereum's blockchain converted to Proof-of-Stake validation.&nbsp;Additionally, many other cryptocurrencies operate as ERC-20 tokens on top of the Ethereum blockchain and have utilized the platform for initial coin offerings, as do many NFTs and other smart contract projects.

Solana launched in 2017 during the ICO boom. Its first goal was to minimize the time it took to validate transactions, leading to its novel Proof-of-History algorithm.SOL is the native currency on the Solana blockchain and was released to the public in May 2020.&nbsp;

Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, and was renamed Aave in September 2018. It was one of the first crypto lending platforms to appear and currently has more than $12 billion in total value locked.

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada.Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson. The development of the project is overseen and supervised by the Cardano Foundation based in Zug, Switzerland. It is the largest cryptocurrency to use a proof-of-stake blockchain, which is seen as a greener alternative to proof-of-work protocols.

AXS is the governance token of the Axie Infinity ecosystem, giving holders rights to participate in votes and decide how funds are spent. Axie Infinity is a trading and battling game that allows players to collect, breed, raise, battle, and trade creatures known as "axies" (characters based on axolotl), which are digitized as NFTs. New players need to purchase at least three axies to begin playing. The game uses a "pay-to-earn" model (also called "pay-to-play-to-earn" model) where participants can earn a token which is traded on Binance as an Ethereum-based cryptocurrency.&nbsp;&nbsp;

Bitcoin Cash is a fork of Bitcoin that aims to be a true peer-to-peer electronic cash system. Bitcoin Cash was created in 2017 and features fast payments, low fees, privacy, and high transaction capacity.

BNB is the dedicated token for Binance exchange, issued on its own blockchain. It is an integral part of the BNB ecosystem and its subprojects.

Chiliz is a popular digital currency used for sports and entertainment fan clubs operated on the Socios platform. When fans purchase CHZ, they gain access to fan tokens and can claim a stake in their club.&nbsp;

The Compound mainnet launched in September 2018, and has become extremely popular due to its open and flexible lending platform. It currently has more than $8 billion in total value locked.

Dai (or DAI) is a stablecoin cryptocurrency that aims to keep its value as close to one United States dollar (USD) as possible through an automated system of smart contracts on the Ethereum blockchain. Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization (DAO), who may vote on changes to certain parameters in its smart contracts in order to ensure the stability of Dai.Together, Dai and MakerDAO are considered the first examples of decentralized finance to receive significant adoption.

Dogecoin is a cryptocurrency forked from Litecoin in 2013 and based on the popular Doge internet meme.&nbsp;

The Graph is an indexing protocol that queries blockchain data from networks such as Ethereum and the InterPlanetary File System (IPFS). Open APIs, called subgraphs, can be developed by anyone to make data from Graph-supported networks easily accessible. GRT is an ERC20 token used to allocate resources on these networks.&nbsp;

Chainlink is a decentralized blockchain oracle network built on Ethereum. The network is intended to be used to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. Its creators claim it can be used to verify whether the parameters of a smart contract are met in a manner independent from any of the contract's stakeholders by “connecting the contract directly to real-world data, events, payments, and other inputs.”LINK is an ERC677 token, an extension of ERC20. According to Chainlink, the trade value derived from these tokens is used to pay node operators for retrieving data from smart contracts, and also for deposits placed by node operators as required by contract creators. Tokens can be stored in any ERC20 wallet, as the ERC677 token retains all the functionality of an ERC20 token.

Decentraland launched its beta in 2019, following its $24 million ICO in 2017, and opened its platform publicly in February 2020. The premise of the platform is to support content creators who are looking for a new artistic medium, opportunity, or simply entertainment.

The Sandbox was launched in 2011 by Pixowl, and was an early pioneer of blockchain-based gaming. Many big-name gaming, entertainment, and sports industry brands have lent their support to the platform, including Atari, Adidas, and Snoop Dogg.

The Shiba Inu token (SHIB) is a decentralized cryptocurrency characterized as a "meme coin" and created by an anonymous person or group known as Ryoshi. It is named after the Shiba Inu (柴犬), a Japanese breed of dog originating in the Chūbu region, the same breed that is depicted in Dogecoin's symbol, itself originally a satirical cryptocurrency based on the Doge meme.&nbsp;Shiba Inu was created in August 2020, dubbing itself the “Dogecoin killer.” On May 13, 2021, Vitalik Buterin donated more than 50 trillion SHIB to the India COVID-Crypto Relief Fund.

Uniswap is a popular decentralized trading protocol that facilitates automated trading of DeFi tokens. UNI is an ERC20 token on the Ethereum blockchain that offers control over the Uniswap protocol governance, the UNI token community treasury, the protocol fee switch (0.05% of the fee would be collected by UNI token holders if activated), eth ENS, Uniswap default token list (tokens.uniswap.eth), and SOCKS liquidity tokens.

USD Coin (USDC) launched in September 2018 as a stablecoin pegged to the U.S. dollar at 1:1 basis. Every USD Coin in circulation is backed by $1 held in reserve, of both cash and short-term U.S. Treasury bonds. The Centre consortium created USDC and it is issued by regulated financial institutions.USD Coin’s mantra is “digital money for the digital age” as allows businesses to accept payments in digital assets, with a goal to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers and dApps as possible.

Stellar was released in 2014 by Jed McCaleb and Joyce Kim, and originally based on the Ripple protocol.&nbsp;

Ripple (XRP) was founded in 2012 by Jed McCaleb and Chris Larsen. Compared to other cryptocurrencies, Ripple takes much less energy and time to confirm transactions.

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Block Explorer

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Website

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White Paper

Polygon is a layer-2 scaling solution with side-chains for off-chain computation, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. It aims to offer scalable and instant blockchain transactions.&nbsp;MATIC is an ERC20 token used to pay for services on the Polygon Network, but also serves as a settlement currency between users who operate within the Polygon ecosystem.

Terra started in 2018, and its mainnet was launched in 2019. The LUNA token is used to stabilize the Terra protocol's stablecoins, and its holder are able to submit and vote on governance proposals.&nbsp;The Terra blockchain officially halted at block 7607789 in May 2022. The original Terra Chain has been rebranded as Terra Classic (LUNC).&nbsp;

Binance USD (BUSD) launched in September 2019 by Binance and Paxos and is a 1:1 USD-backed stablecoin. The New York State Department of Financial Services (NYDFS) approved and regulates BUSD, and its Monthly Audit Report can be viewed on its official website.&nbsp;Paxos has indicated that 96% of the assets backing BUSD are held in cash and cash equivalents, while 4% are invested in U.S. Treasury bills, as of June 30, 2022.

Fasttoken (FTN) serves as the primary crypto asset of the Bahamut blockchain, a public, EVM-compatible layer-1 network built on a distinctive Proof of Stake and Activity (PoSA) consensus model. Within the Bahamut ecosystem, FTN is essential for powering native and liquid staking, facilitating block validation, and supporting cross-chain interactions. It is also a key asset in the broader Fastex ecosystem, with applications spanning multiple industries, including iGaming and decentralized finance (DeFi) platforms.