What is Binance coin?

Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. As of August 2023, Binance Exchange is the largest cryptocurrency exchange in the world, with a volume of $6.7 billion. Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.

Is Binance coin the largest cryptocurrency?

While binance coin may not be the largest cryptocurrency — it is perhaps the most controversial. Headquartered in the Cayman Islands, the cryptocurrency has become a magnet for a list of allegations of tax evasion, money laundering, and even terrorism funding by authorities in the US, Japan, and the Netherlands.

What cryptocurrency is Binance based on?

BNB was initially based on the Ethereum network but is now the native currency of Binance's own blockchain, the Binance chain. As of August 15, 2023, BNB was the fourth-largest cryptocurrency by market capitalization, behind only Bitcoin, Ethereum, and USD Tether.

Is Binance coin (BNB) a serious cryptocurrency?

Though Bitcoin and Ethereum are still way out in front of all other cryptocurrencies in terms of market capitalization, Binance Coin (BNB) has cemented itself as their main challenger this year. It's a coin that really has the potential to make it a proper “Big Three.” What is Dogecoin — and is it a serious cryptocurrency?