What Is Binance (BNB)?
Binance is the largest cryptocurrency exchange in the world that was introduced in 2017 by Changpeng "CZ" Zhao. Since its launch, Binance has evolved to more than a digital exchange, and it currently has its own blockchain network called BNB Chain. The chain is a merge from two blockchains Binance Chain and Binance Smart Chain. Though the blockchain networks of Binance are quite new, they have a large user base, because they have relatively fast speed and low gas fee.
The BNB token was originally released as an ERC-20 token to raise funds for the Binance exchange in 2017. Then, when Binance launched their own networks, BNB with BEP token standards was released as the native token, and holders of ERC-compliant BNB could exchange for BEP-compliant tokens at a 1:1 ratio.
How Binance (BNB) Works
Binance is an ecosystem of solutions for digital assets that consists of CEX, DEX, blockchain networks, cryptocurrencies, etc. BNB Chain, the main blockchain network, uses the Proof of Stake (PoS) and Proof of Authority (PoA) consensus mechanisms. It has two sub-chains:
- BNB Beacon Chain (formerly Binance Chain) is responsible for governance
- BNB Smart Chain (formerly Binance Smart Chain) is EVM compatible and is where most on-chain transactions operate
How Many BNB Tokens Are in Circulation?
BNB, the native token of the Binance ecosystem, was created to raise funds for the Binance CEX and later used to enjoy discounted trading fees for users. Then as the ecosystem expands, the use cases of BNB also increase. Now BNB tokens can be used to pay gas fees and to stake on the BNB Chain, as well as used as payment methods accepted by various merchants.
BNB's Total Supply: 200,000,000
BNB's Circulating Supply: 161,337,261.09
How to Buy Binance (BNB)
Consider investing in Binance (BNB)? It only takes 2 minutes to create an account on Bitget and start trading BNB.
Check out the available BNB trading pairs on Bitget!
Futures market
Spot market
Simple 3-step guide to buying BNB today in Canada
Create your free Bitget account
Select a funding method
Complete your Binance purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Binance using a payment method of your choice:
Buy Binance with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Binance order.
How to buy crypto with credit/debit cardBuy Binance with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Binance is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Binance order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Binance order.Buy Binance with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Binance order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Binance in your Bitget spot wallet
Bitget—where the world trades Binance
How to buy Binance for free
- Learn how to earn Binance for free through the Learn2Earn promotion
- Earn free Binance by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Binance airdrops by joining On-going challenges and promotions
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FAQ
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