BNB is the cryptocurrency coin that powers the BNB Chain
ecosystem. It is one of the world’s most popular utility tokens. You can trade
BNB like any other cryptocurrency and it can be used in a wide range of
applications and use cases.

Binance Coin is the fourth-largest cryptocurrency by
market capitalization, according to CoinMarketCap. BNB significantly
outperformed both Bitcoin (BTC) and Ethereum (ETH), growing over 1,300% in 2021
and the trend is likely to continue.

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Binance coin was launched with an initial coin offering
(ICO) in July 2017. It was created by founder and CEO Changpeng Zhao,
affectionately known in crypto circles and on Twitter as “CZ”.

 As part of the
ICO, BNB tokens were distributed among various participants, including angel
investors and the Binance founding team. Initially, 40% or 80 million BNB was
allotted to the Founding team, 10% or 20 million BNB was allotted to the Angel
investors and the remaining 50% or 100 million BNB was kept for public sale.

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All of the 100 million BNB tokens available for public
sale were sold during the ICO at 15 cents per token. Therefore, Binance raised
a total of US $15 million in bitcoin and Ethereum.

From the $15 million that was raised, 35% was allocated
to upgrading the Binance platform and exchange system, 50% was allocated for
Binance branding, marketing, and education of new innovators and the remaining
15% was used as a reserve in case of any emergencies or unprecedented

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BNB uses an Auto-burn system to reduce its total supply
to 100,000,000 BNB. The BNB Auto-burn mechanism adjusts the amount of BNB to be
burned based on BNB’s price and the number of blocks generated on the BNB Smart
Chain (BSC) during the quarter.

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Uses of Binance Coin

Binance Coin offers
several uses that go beyond the Binance exchange, such as trading, transaction
fees on the Binance Exchange, Credit card payments, payment processing, booking
travel arrangements, entertainment, loans and transfers, and investments