BNB (Binance Coin) is a multifunctional cryptocurrency asset created by the world’s largest exchange — Binance. Initially launched in 2017 as an ERC-20 standard token, BNB later migrated to its own blockchain, Binance Chain, and then became the foundation of the Binance Smart Chain ecosystem (now BNB Chain). Today, BNB is used not only for paying trading fees on the exchange but also in areas such as DeFi, NFT, gaming, and staking.

In this article, you will learn what BNB is, its key features, advantages and disadvantages compared to Bitcoin, as well as get a detailed guide on how to buy and use BNB tokens.

What is BNB (Binance Coin): Advantages and Disadvantages

BNB (Binance Coin) is a cryptocurrency created by the world's largest crypto exchange, Binance. Initially, it was launched as a utility token for paying platform fees, but over time it evolved into a full-fledged tool within the Binance Smart Chain (BSC) and Binance Chain ecosystem. Today, BNB is used not only for trading but also for launching decentralized applications (dApps), games, NFTs, and other Web3 projects.

BNB operates on the Proof of Staked Authority (PoSA) consensus algorithm, which combines elements of Delegated Proof of Stake and Proof of Authority. This ensures fast transaction processing and minimal fees.

BNB offers the following advantages:

• Wide applicability. BNB can be used to pay trading fees, participate in Launchpad projects, pay for goods and services, and interact with DeFi protocols on the BNB Chain.
• Low fees. Fees on the BNB Chain network are significantly lower than on Ethereum, making the platform attractive for users and developers.
• Support from Binance. The development and promotion of BNB are actively supported by Binance itself, which gives confidence in the token’s future.

However, BNB also has its drawbacks:

• Centralization. Network governance and key decisions are still controlled by Binance, raising concerns among proponents of full decentralization.
• Regulatory risks. Due to its strong association with Binance, BNB may come under pressure from regulators in case of sanctions or restrictions against the exchange.
• Competition. BNB Chain competes with other smart blockchains — Ethereum, Solana, Avalanche, etc., requiring constant innovation and scalability.

BNB vs. Bitcoin: Key Differences

BNB and Bitcoin are cryptocurrencies with different purposes and philosophies:

• Purpose. Bitcoin is a store of value and digital gold. BNB is a token for use within the Binance and BNB Chain ecosystem.
• Speed and fees. BNB Chain processes transactions faster and cheaper than Bitcoin, which is especially important for DeFi and Web3.
• Consensus mechanism. Bitcoin uses Proof-of-Work, which requires significant energy consumption. BNB uses PoSA, which is more resource-efficient.

How to Buy and Use BNB (Binance Coin)

There are several ways to buy BNB:

• Exchangers. BNB can be easily purchased through online exchangers. You choose the direction, specify the amount and your payment details. Use rate monitoring services like Bestchange.ru, Kurs.expert, and Bitcoinmarket.global to find the best rate.
• Exchanges. BNB is available on major exchanges, including Binance, Bybit, and others.

Popular wallets and platforms to store BNB:

• BNB Wallets: Trust Wallet, MetaMask (with BNB Smart Chain support), SafePal, Coinomi.
• Crypto Exchanges: Binance, Bybit, OKX.
• Hardware Wallets: Ledger, Trezor.

Conclusion

BNB is a versatile crypto asset that plays a key role in the Binance and broader Web3 ecosystem. Thanks to its speed, low fees, and Binance support, it remains one of the most in-demand tokens on the market.

This article covered what BNB is, its strengths and weaknesses, and how to buy and store it securely.

If you already use BNB, share in the comments which wallets or dApps you like the most. And if you have any questions — feel free to ask, we’re happy to help!

Thanks for reading, and may your investments be profitable!