What is BNB

BNB or Binance coin is the cryptocurrency created by Binance, a crypto exchange. BNB is capped at 200 million tokens. Binance released 100 million coins during its ICO, but has been regularly rebuying and "burning" its coins. "Burning" is the action of destroying tokens in order to reduce supply. This reflects positively on the price of the coin and therefore benefits BNB owners. BNB could be used to make purchases on certain websites and to pay the transaction fees for Binance services.