Like Ethereum, Binance Coin (BNB) is much more than a cryptocurrency. Binance Coin was originally hosted on Ethereum until the Binance decentralized exchange (DEX), went online in 2017. The Binance DEX is a platform much like Ethereum but with a different mission. The Binance DEX is a decentralized platform where users can not only buy and sell Binance Coins but also convert other cryptocurrencies from one to another. This has made the Binance DEX the biggest cryptocurrency exchange in the world by volume and has helped fuel the popularity of the digital asset. Most importantly, the Binance DEX offers a discount to users who pay transaction fees on the exchange with Binance Coins, a strategy that keeps users on the platform and helps sustain Binance Coin’s growth.
Sven Franssen