Binance Coin is a native ERC20 token of Binance exchange
. It was launch via an ICO
project and represents an instrument for paying service fees on Binance platform. People can use BNB for covering exchange/listing fees as well as other related ones. They can choose in what currency to pay: in BNB or in one they are currently exchanging. The main advantage of Binance Coin payments is availability of discounts. If you decide to pay in BNB, you will receive a discount of 50% during the first year of using exchange platform and this rate will decrease for next years.