What Is BNB?
BNB is a cryptocurrency and utility asset. It can be held in a compatible wallet, transferred between addresses and used to pay transaction fees on BNB Smart Chain.
BNB as a Cryptocurrency
Like BTC or ETH, BNB can be owned and transferred as a digital asset. Its market value changes over time, but its role is not limited to trading: BNB is also the native asset used to pay gas fees for transactions on BNB Smart Chain.
Because BNB is the network’s native asset, it is different from a BEP-20 token such as USDT on BNB Smart Chain. A BEP-20 token is issued through a token contract, while native BNB is built into the network itself.
What Does BNB Stand For?
BNB was originally associated with the name Binance Coin. The project later moved away from that naming as BNB developed into the native asset of the broader BNB Chain ecosystem.
The ticker remains BNB. When a wallet or exchange shows BNB on BNB Smart Chain, it normally refers to the native asset used by that network.
What Is BNB Used For?
BNB has several practical uses. The most relevant ones for users moving funds between wallets and exchanges are tied to transactions, transfers and activity on BNB Smart Chain.
Common uses include:
- paying gas fees for transactions on BNB Smart Chain;
- sending BNB between compatible wallet addresses;
- interacting with applications that use BNB Smart Chain;
- receiving BNB after exchanging another supported cryptocurrency;
- holding BNB in a self-custody wallet for later network use.
Network Fees on BNB Smart Chain
BNB is the native gas asset of BNB Smart Chain. When a transaction requires a network fee, that fee is paid in BNB rather than in the BEP-20 token being transferred.
This matters when using tokens such as USDT on BNB Smart Chain. A wallet can contain USDT but still need a small BNB balance to pay the network fee for an on-chain transaction.
Transfers and Other BNB Uses
BNB can be sent from one compatible BNB Smart Chain address to another. It can also be received as the output of a crypto-to-crypto exchange when a user converts BTC, ETH, USDT, USDC, SOL or another supported asset into BNB.
The exact use depends on what the user wants to do next. Someone preparing to use BNB Smart Chain may need BNB for gas, while another user may simply want to move an existing balance into a BNB wallet.
BNB vs BNB Chain
BNB and BNB Chain are closely related, but they are not the same thing. BNB is the asset; BNB Chain is the blockchain ecosystem in which that asset has a native role.
| Term | What it is | Main role |
|---|---|---|
| BNB | Cryptocurrency / native asset | Pays network fees, can be transferred and held |
| BNB Smart Chain (BSC) | EVM-compatible blockchain network | Processes BNB and BEP-20 transactions and smart contracts |
| BNB Chain | Broader blockchain ecosystem | Umbrella for BNB Smart Chain and other BNB Chain components |
| BEP-20 | Token standard on BNB Smart Chain | Defines fungible tokens issued on BSC |
If the distinction is still unclear, see What Is BNB Chain? for the network-focused explanation.
BNB Supply and Launch History
BNB launched in 2017 through an initial coin offering. The initial total supply was 200 million BNB, and 100 million BNB were offered through the token sale. BNB was first issued as an ERC-20 token on Ethereum.
In 2019, BNB migrated away from Ethereum to native blockchain infrastructure. BNB Smart Chain later launched in 2020, and BNB became its native utility and gas asset.
When Was BNB Launched?
BNB was introduced in 2017. The ICO ran from late June into early July of that year, before BNB began trading and expanding beyond its original exchange-related use cases.
The asset has changed technically since launch. The original ERC-20 form is part of BNB’s history; native BNB today is associated with BNB Chain rather than operating as an ERC-20 token on Ethereum.
How BNB Supply Works
BNB does not use proof-of-work mining to create new coins in the way Bitcoin does. Its supply began with the original issuance and is reduced over time through BNB burn mechanisms.
The long-term burn model is designed to reduce total BNB supply below 100 million. Because burns change the supply over time, a live current-supply figure should be checked from an up-to-date source rather than treated as a permanent number.
Related BNB Guides
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If you already hold cryptocurrency and want to convert it into or out of BNB, you can also view the supported BNB exchange routes.
FAQ
Is BNB a real cryptocurrency?
Yes. BNB is a cryptocurrency with its own native role in the BNB Chain ecosystem. It can be held, transferred and used to pay transaction fees on BNB Smart Chain.
Who owns or controls BNB?
Individual BNB units are owned by the users or entities that control the relevant wallets. BNB was originally launched by Binance, while BNB Chain is now described as a community-driven blockchain ecosystem rather than an asset owned by a single person.
Is BNB real money?
BNB is a cryptocurrency, not government-issued fiat currency such as the US dollar or euro. It can have market value and be used for blockchain transactions, but it should not be confused with legal-tender cash.
Can BNB coins be mined?
BNB is not created through proof-of-work mining like Bitcoin. The original supply was issued at launch, and BNB burn mechanisms reduce that supply over time.