Binance Coin (BNB) is a cryptocurrency issued by the Binance cryptocurrency exchange. Initially released as an ERC-20 based cryptocurrency, it later transitioned to Binance's own chain and adopted the BEP2 infrastructure. Existing ERC20 tokens were burnt and converted into BEP2 tokens.
Binance, being one of the largest exchanges in the world by volume, has seen the volume and the value of Binance Coin (BNB) against real money increase significantly in correlation with the exchange's volume.

Binance Coin (BNB) was first launched through an ICO (Initial Coin Offering) from June 26 to July 3, 2017. A total of 100,000,000 BNB were released during its initial offering. At its initial offering, 1 BNB was approximately valued at 0.11 USD, but its value in real money is much higher now. For the latest price, you can check our BNB Price page.
Since its release, it reached its highest value in 2019 at 38.87 USD. Its current market capitalization is 2,154,530,527 USD, making it the 9th highest-valued cryptocurrency.

There are currently 155,536,713 BNB in circulation. Binance buys back Binance Coin (BNB) using 20% of its annual profits and burns the purchased BNB coins. This process will continue until there are 100,000,000 BNB left in the market. The aim is to prevent inflation in the Binance Coin (BNB) market. With the latest whitepaper update, Binance has changed the clause from buying back BNB with 20% of its profits to buying back with a portion of its profits.
Binance Coin (BNB) can be used for trading cryptocurrencies on the Binance exchange.
Binance Coin (BNB) can be used to pay for transaction fees on the Binance exchange. Payments made with Binance Coin (BNB) receive a discount on commission rates: 50% in the first year, 25% in the second year, 12.5% in the third year, and 6.75% in the fourth year. The discount levels are given based on the amount of BNB held and the total volume of trades made.

Binance Coin (BNB) is not a type of cryptocurrency that is mined. All Binance Coin (BNB) was generated by the Binance exchange on its first day, with half of it sold to the public.

Contrary to what is assumed, buying Binance Coin (BNB) with Turkish Lira in Turkey is a very easy and fast process. You can buy BNB without needing any technical knowledge.