What is Binance Coin
Binance Coin was created as a utility token to be used on the Binance platform for paying fees, such as trading fees and withdrawal fees.
Binance periodically buys back and "burns" Binance Coins, reducing the total supply and increasing the value for remaining holders.
Binance uses a portion of its profits to buy back and burn Binance Coins, which helps to fund the development and growth of the Binance platform.
Binance Coin holders can receive discounts on trading fees when they use Binance Coin to pay for fees on the Binance platform.
Binance has launched its own decentralized exchange (DEX) called Binance DEX, where Binance Coin can be used as the native currency.
Binance Coin can be used as a form of payment across multiple platforms, including Binance's growing ecosystem of products and services.
Binance Coin has shown impressive market performance, with substantial price gains since its launch.
Binance Coin has significant potential for future growth, as Binance continues to expand its platform and offerings.