Binance Coin (BNB) Price

$591.95

Binance Coin (BNB) Price Today

The live price of Binance Coin is $591.95 USD. In the past 24 hours, the trading volume of Binance Coin was $1.2B USD, with a change of -0.00567106%. The current live price of Binance Coin has changed by -0.67% from its 7-day high of $595.95 USD and by +2.67% from its 7-day low of $576.53 USD. With a circulating supply of $140,890,871.10 BNB, the market cap of Binance Coin is currently $83.4B USD, marking a +0.01% change in the last 24 hours. Binance Coin currently ranks 5 by market capitalization.

Binance Coin (BNB) Market Data

Market Cap

$83.4B

24h Volume

$1.2B

Circulating Supply

140.8M BNB

Maximum Supply

Fully Diluted Market Cap

$83.4B

Liquidity Indicator

1.47%

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About Binance Coin (BNB)

What Is BNB (Binance Coin)?

BNB is the native token of the BNB Chain ecosystem, a decentralized blockchain platform designed for scalability, low-cost transactions, and a wide range of decentralized applications. Initially launched in 2017, BNB powers the operations of Binance’s ecosystem and plays a critical role in securing BNB Chain, enabling fee payments, governance, and staking.

On BingX, BNB is a highly utilized asset, integral to platform services and available for trading, staking, and leveraging fee discounts. Moreover, BNB can be used to unlock exclusive token offerings and airdrops within Binance’s environment. Its primary utility lies in its ability to reduce trading fees, provide staking rewards, and allow users to participate in governance decisions across the BNB ecosystem.

BNB launched in July 2017 through an ICO with a strict cap of 200 million tokens. The ICO split the tokens as follows: 10% (20 million) went to angel investors, 40% (80 million) to the founding team, and 50% (100 million) to participants. Nearly half of the raised funds fueled Binance branding and marketing, while about one-third built and upgraded the platform.

Key Points about BNB:

• Used for reducing trading fees.

• Available for staking, governance participation.

• Essential in the Binance Launchpad and Launchpool.

• Periodic token burns reduce total supply over time.

Who Created BNB?

Binance was built BNB by Changpeng Zhao (CZ) and launched it in 2017. BNB began as an ERC-20 token on Ethereum. In 2019, Binance moved BNB to its own BNB Chain. BNB powers trading fees and unlocks benefits on the Binance exchange. It now fuels token sales, staking rewards, and a growing ecosystem of decentralized apps. BNB embodies Binance's relentless drive to innovate and simplify crypto trading.

Where and How to Buy BNB?

1. Create a BingX Account

Creating an account on BingX is simple and straightforward. Just visit the BingX website or download the app, then register using your email and a secure password. After signing up, complete the KYC (Know Your Customer) process to ensure your account is verified. Once verified, you’re ready to start trading.

2. Complete Security Settings

For enhanced security, verify your email and phone number. Activate two-factor authentication (2FA) to protect your account from unauthorized access. These simple steps ensure your account stays secure while you trade BNB on BingX.

3. Deposit After Signing Up

On BingX, depositing funds through on-chain methods costs significantly less than using credit cards. On-chain deposits only require payment for blockchain processing fees, which are much more affordable than traditional bank charges. For example, depositing USDT via the TRC-20 protocol will cost only $1 per deposit, no matter the amount. BingX also supports multiple networks such as POLY, BEP, ERC, and more, giving you a variety of low-cost, secure deposit options.

4. Buy BNB Spot or Derivatives

There are two primary ways to buy BNB on BingX: spot trading and derivatives trading. The key difference between spot and derivatives trading is ownership. With spot trading, you directly purchase and store BNB in your wallet, benefiting from capitalizing on buying low and selling high. Derivatives trading, however, involves contracts where you earn profit from price differences without owning the actual asset.

BingX offers two ways to buy BNB spot:

• Buy directly on the spot market: Purchase BNB at the current market price and store it in your wallet.

• Use BingX P2P: Engage in peer-to-peer transactions with other users on the platform.

For derivatives trading, BingX offers:

• USDT-M futures market: Trade BNB futures contracts and profit from price movements.

• Coin-M futures market: Trade BNB against popular cryptocurrencies like ETH, SHIB, and others.

How to Store BNB on BingX

Storing your BNB on BingX provides enhanced security and seamless integration for trading. BingX employs advanced encryption, multi-factor authentication (MFA), and cold storage for a significant portion of BNB, ensuring protection from online threats. You can easily monitor your account in real-time and access your funds when needed, while benefiting from low fees and high security.

Key Advantages of Storing BNB on BingX:

• Robust security protocols, including cold storage for your BNB.

• Access funds quickly for trading or investment.

• Low fees and real-time account monitoring.

• Seamless integration with trading, without needing to transfer funds between wallets.

With BingX, storing and trading BNB is both secure and efficient.

How Is BNB Used?

BNB is used across multiple facets of the Binance ecosystem and beyond. On BingX, BNB can be applied to reduce trading fees, earn staking rewards, and participate in special token sales. By staking BNB, you also help secure the network, earning rewards while locking your assets for a defined period.

Additionally, users can access exclusive Binance Launchpad token sales and participate in the Binance Launchpool by locking BNB on the platform. As of 2024, BNB’s role in decentralized finance (DeFi) applications, including decentralized exchanges and liquidity provision, is significant.

• Reduces trading fees on Binance and Binance-backed exchanges like BingX.

• Earn staking rewards by locking BNB.

• Participate in token sales via Binance Launchpad.

• Interact with decentralized applications (dApps) on BNB Smart Chain.

Uses for BNB (Binance Coin)

BNB (Binance Coin) goes beyond simple exchange transactions. Traders swap BNB for other cryptocurrencies. On Binance, BNB cuts transaction fees, merchants take BNB to widen payment options, travelers book hotels and flights with BNB. Entertainment includes buying virtual gifts and lottery tickets with BNB. Investors use BNB to invest in stocks, ETFs, and other assets. Furthermore, platforms let users pledge BNB as collateral for loans. Apps help users split bills and pay friends with BNB.

What Are the Key Features of BNB?

BNB is designed to support the entire Binance ecosystem, offering unique features that enhance user experience and scalability. These features include the ability to pay for transaction fees, earn staking rewards, and access exclusive sales. Moreover, BNB operates with a deflationary model, periodically burning tokens to decrease supply, driving scarcity and potential value appreciation.

BingX users benefit from BNB’s reduced fees on spot and derivative markets, governance rights, and staking options. BNB holders can use it for various platform incentives, which enhance liquidity and foster long-term ecosystem growth.

• Access staking rewards and governance options.

• Participate in exclusive token sales on Binance Launchpad.

• Deflationary token model with periodic burns.

Why Is BNB So Popular?

BNB’s popularity stems from its multifaceted use cases, its integral role within Binance’s ecosystem, and its deflationary tokenomics. On BingX, it is a cornerstone for reducing trading costs, enhancing staking returns, and gaining access to exclusive offerings. Furthermore, its involvement in governance gives users a voice in the future of the platform.

The burn mechanism built into the BNB token ensures its value may increase as supply decreases. Additionally, the ongoing expansion of decentralized applications (dApps) on BNB Smart Chain increases demand for the token.

• Reduces trading fees by up to 25%.

• Integral to Binance Launchpad and Launchpool.

• Participates in governance and staking rewards.

• The deflationary model ensures long-term value potential.

How Do BNB Token Burns Work?

BNB token burns aim to reduce the total supply over time. Binance employs several methods, including real-time burns that occur with each block and quarterly auto-burns based on the price and transaction volume of BNB. As a result, the total circulating supply of BNB is gradually reduced, potentially leading to price appreciation due to decreased supply.

As of now, over 60 million BNB tokens have been burned, and the target supply is set to 100 million. This deflationary mechanism not only helps control supply but also enhances the token's value proposition over time, encouraging users to hold and stake their BNB.

• Real-time burns occur with each transaction.

• Quarterly auto-burn mechanism adjusts based on price and volume.

• 60 million BNB burned to date, with a target of 100 million total supply.

What Are the Risks of Holding BNB?

Like all cryptocurrencies, holding BNB comes with risks. These include market volatility, regulatory uncertainty, and the competitive landscape. While BNB’s burn mechanism and high utility within the Binance ecosystem offer potential upside, its value is speculative and largely driven by market sentiment and demand.

Furthermore, external competition from other blockchain ecosystems and cryptocurrencies presents a constant challenge. Therefore, users should consider these risks when holding BNB and diversify their portfolios accordingly.

• Exposure to market volatility and external competition.

• Speculative asset with value driven by demand.

• Regulatory challenges could impact token’s use case.

What Are the Benefits of Using BNB on BingX?

Using BNB on BingX offers numerous advantages, including reduced trading fees, staking rewards, and access to exclusive token sales. By leveraging BNB, traders can also enjoy enhanced liquidity and faster transactions with lower slippage. Furthermore, BNB holders can participate in the governance of the BNB Chain, which adds an additional layer of engagement for long-term users.

Additionally, the platform’s integration with Binance Launchpad and Launchpool allows for participation in IEOs and token farming, giving BNB holders unique opportunities to gain exposure to new digital assets.

• Reduced trading fees up to 25%.

• Exclusive access to IEOs and token sales.

• Governance participation and staking rewards.

• Enhanced liquidity and fast transactions.

How Can I Stake BNB?

Staking BNB is straightforward on BingX. To start, users must lock their BNB for a set period, which helps secure the BNB Chain. In return, stakers earn regular rewards. The amount and duration of the rewards depend on the staking pool and the amount of BNB locked.

BingX offers staking options with competitive annual percentage yields (APY) and flexible staking terms. This allows BNB holders to earn passive income while contributing to the network’s security and overall growth.

• Lock BNB for staking rewards.

• Competitive annual percentage yield (APY).

• Contribute to network security and stability.

Is BNB a Good Investment?

BNB's utility within the Binance ecosystem, coupled with its deflationary model, makes it a promising long-term asset. The token's use cases span transaction fee reduction, staking, governance, and participation in token sales. Additionally, the ongoing reduction in supply due to the token burn mechanism has the potential to increase its value over time.

BNB is a strong asset with multiple utilities. It powers trading fee discounts, staking rewards, and exclusive offerings on Binance. Its token burn model cuts supply over time, which can boost price. However, BNB remains subject to market swings and regulatory shifts. Weigh its benefits against the risks.

However, as with all investments in cryptocurrency, the value of BNB is subject to market volatility and regulatory changes. Therefore, potential investors should carefully assess the risks and consider diversification in their portfolios.

Key points:

• Fuels Binance ecosystem with real use cases.

• Token burns lower supply over time.

• Trades and stakes yield practical benefits.

• Exposed to crypto volatility and regulation risks.

• Strong use cases across multiple platforms.

• Deflationary model with regular burns.

Information source

Official Website

Binance Coin (BNB) Price Converter

BNB to USD

1 BNB = $ 591.89

BNB to VND

1 BNB = ₫ 15,322,193.84

BNB to EUR

1 BNB = € 520.46

BNB to TWD

1 BNB = NT$ 19,250.23

BNB to IDR

1 BNB = Rp 9,981,983.38

BNB to PLN

1 BNB = zł 2,226.85

BNB to UZS

1 BNB = so'm 7,686,590.72

BNB to JPY

1 BNB = ￥ 84,281.81

BNB to RUB

1 BNB = ₽ 48,638.65

BNB to TRY

1 BNB = ₺ 22,503.97

BNB to THB

1 BNB = ฿ 19,743.83

BNB to UAH

1 BNB = ₴ 24,439.79

BNB to SAR

1 BNB = ر.س 2,220.79

All BNB historical price data

How to Buy Binance Coin (BNB)

Create & Verify Your Account

Create a free BingX account using your email or phone number, set a strong password, and complete identity verification (KYC) by submitting your personal details and a valid photo ID.

Fund Your Account

Choose a payment method—bank account, card, or more—to deposit funds into your BingX account.

Trade Now

Now that your account is funded, you can seamlessly trade BNB BNB and other cryptocurrencies while exploring BingX’s diverse trading features!

How to Buy BNB Guide

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Disclaimer:

Price analysis and valuation are influenced by multiple factors, and theoretical projections do not guarantee that a token will reach a specific price level. The information provided is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.

By accessing and using this platform, you agree to comply with our Terms of Use.

Trading cryptocurrencies and other financial instruments involves risks, including the potential for loss of funds. You should never trade more than you can afford to lose. Please be aware of the risks involved and seek independent financial advice if necessary.

For more detailed information, please refer to our Risk Disclosure Statement.

Disclaimer:

By accessing and using this platform, you agree to comply with our Terms of Use.

For more detailed information, please refer to our Risk Disclosure Statement.