9 uses of BNB(Binance Coin) in 2022 that you need to know

You are looking to invest in Binance Coin but do not know what benefits Binance Coin brings, so in this article on primexbt, you will have more useful information to invest through listing, introducing 9 uses of BNB (Binance Coin).

BNB (Binance Coin) is a floor coin of the Binance exchange, what are the benefits of storing Binance coin, we will learn together through 9 ways to use BNB! If you are interested in BNB, read this article "Why do you need to immediately store BNB Coin?"

1. Use BNB to pay trading fees on Binance exchange

Any crypto trader on the Binance exchange will be more or less exposed to the issue of transaction fees, and with being a top 1 exchange, Binance has taken advantage of this. Binance has made a great use case for BNB in ​​recent times. Using BNB to pay for transaction fees allows users to receive a 50% discount from the prevailing rate when making trades on the Binance exchange.

That discount changed to 25% recently, as stated in the official Binance report, but there are still many other benefits that BNB offers to its holders. Using BNB to reduce transaction fees makes BNB a really useful coin.

2. Use BNB to detail and buy and sell goods

If you look at the bigger picture, then Binance Coin shows greater value as a regular exchange coin, it is expanding out of range in the Binance exchange. And over the years BNB has allowed you to use multiple ways to use BNB to purchase goods and services through a growing network of merchants and establishments.

A prime example of a real-life application for BNB is the recent investment in TravelbyBit , an Australian startup that has established more than 150 facilities, including the entire Brisbane airport, with the ability to pay for goods. goods and services with electronic money. This partnership will unlock the use of BNB on TravelbyBit affiliated merchants very soon, and testing for the system is ongoing, as shown in the video below by CZ

Thanks @TravelbyBit for increasing #BNB adoption. @binance pic.twitter.com/KfGWk2cDEO

— CZ Binance (@cz_binance) September 11, 2018

BNB is also being used as a payment method on the platform made by blockchain startups such as point-of-sale crypto solutions provider Pundi X , blockchain payments company Crypto.com. BNB is also used as a discount code, through Coinbates. And more and more applications are expanding to use BNB, and Binance is supporting more blockchain innovators through Binance Labs and Binance Launchpad.

3. Convert cash when necessary

To ensure the freedom of money, Binance makes it important to adopt cash conversion. This means that there will be times when Binance Coin holders need cash, and Binance will provide that. Freedom of money means making it possible for each individual user to use crypto in the most appropriate way, without Binance's permission. Over the past year, Binance Coin was used to cash out crypto cash machines via Zelaacoin, as well as secure loans through Nexo and sell crypto for cash via Dether.

4. Using BNB through services, media

When BNB begins to apply value to the real world, it will bring greater value than just a regular cryptocurrency. Social media has become an important part of the lives of so many people around the world, so Binance welcomes the use of BNB for various functions across innovative platforms.

For example, BNB can be purchased on the Investfeed-centric crypto social media network through an API exchange integration. Binance Coin is also used as a gift token on the Uplive online service and the ADAMANT chat service. There are even social media influencers who have earned BNB just by being famous on certain social media platforms. Sometimes you'll be surprised at the use cases people can see with BNB in ​​the real world.

5. Use BNB to pay employees

Binance used BNB to pay their employees. About 9 out of 10 Binance employees receive part of their salary in BNB. A lot of people (like Michael Arrington of Arrington XRP Capital) find this interesting and even great. Those who believe in the company's vision will want to receive their salary in BNB.

6. Store on various wallets

Now, what do we do next with Binance other than what was mentioned above? Binance recently acquired Trust Wallet , a blockchain wallet mobile app with a user-friendly interface, enhanced security, and convenient connectivity to decentralized applications. Needless to say, the most trusted wallet by hundreds of thousands of people in the crypto community (as the name implies) is the app of choice for Binance to keep their funds safe.

But of course, as Binance promotes the freedom of money, Binance also recognizes the freedom of people to choose their preferred wallet for their digital currency. A lot of major crypto wallet manufacturers have made sure to integrate BNB into their wallets. Binance Coin can also be stored in wallets such as Trezor, Eidoo, Enjin, Jaxx, Ledger, Metal Vault, Blox and Request Wallet.

Hint: Are you new and want to learn about Bitcoin but don't know where to start? Click here to see the Bitcoin Investment Guide for Newbies !

7. Trade like an Altcoin

For crypto traders, BNB is a familiar Altcoin. Crypto has given new life to the concept of trading in everyday life. Binance Coin is being patronized by thousands, if not millions, of traders, including exchanges other than Binance. Up to this point, Binance Coin is being traded in about 12 notable exchanges, including Komodo and kyber.network.

8. Holding for later use on Binance Decentralized Exchange Cryptocurrency Exchange (DEX) and Binance Chain (or on any random date you like)

If you consider yourself a HODLer, Binance Coin offers something for you too. Upon the release of the decentralized Binance cryptocurrency exchange, BNB will convert to become a native coin on its own Binance Chain blockchain, which is used as payment for any outgoing funds on the network. When that time comes, BNB will have more utility than it currently has, leading to an increased potential demand.

And even before that, Binance had an ongoing commitment to reduce the total supply of BNB in ​​the market. Every quarter since it launched, Binance commits to use 20% of their profits to buy back Binance coins and burn them forever. A constantly decreasing supply of cryptocurrency used by up to 10 million Binance account holders can only make good sense for Binance Coin HODLers.

9. Use BNB to join Binance Launchpad and Binance Launchpool

The Launchpad subscription mechanism allows BNB holders to pledge an amount of BNB in the ieo Token sale. The official allocation of new tokens to users is decided based on the ratio of BNB they commit to the total amount of BNB committed by all participating users.

There is a limit to the maximum number of tokens allocated per user to ensure fair allocation of Binance among all participants. After the subscription period ends, the allocation of tokens to each user will be rounded off. Participating in bnb IEO will help BNB holders earn huge profits, this is a great effect for long-term BNB holders.

Binance Launchpool allows users to earn new token rewards by staking BNB, BUSD and other tokens on the platform.

Good luck !