Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance.

There is an initial maximum supply of 200,000,000 BNB coins, of which 168,137,036 are currently in circulation as of September 2021.

BNB is the cryptocurrency coin that powers the BNB Chain ecosystem. As one of the world's most popular utility tokens, not only can you trade BNB like any other cryptocurrency, you can also use BNB in a wide range of applications and use cases.

You can use BNB for payment, travel, entertainment, service, and finance.

Some of the benefits of BNB are as follows

• Save even more on trading fees by qualifying for our VIP Program
• Lend through new token farming opportunities on Binance Launchpool
• Send and receive crypto payments with Binance Pay
• Earn a flexible percentage yield by depositing BNB on select BNB Chain projects
• Earn up to 40% commission via our Referral Program
• Access exclusive token sales on Binance Launchpad
• Apply for crypto loans using Binance Loan
• Stake BNB in one click to earn rewards using BNB Vault
• Spend your BNB at more than 60 million merchants worldwide with Binance Visa Card
• Stake BNB to earn rewards and help secure the BNB Chain ecosystem

It has a circulating supply of 163,276,975 BNB coins and a max. supply of 165,116,760 BNB coins.

You can purchase BNB from various crypto exchanges such as Binance, Coinswitch, CoinDCX, HitBTC, Coinbase, and many more.

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 BNB Smart Chain (BSC) during the quarter. This offers greater transparency and predictability to the BNB community.