The coin is used as a utility token for the Binance exchange and allows users to pay for transactions and trading fees at a lower rate than they would be with other tokens . Binance uses the process of token “burns,” meaning they use the profit from token sales to repurchase more BNB and then burn (destroy) them.
Read moreWhat is a token crypto?
A crypto token is a virtual currency token or a denomination of a cryptocurrency . It represents a tradable asset or utility that resides on its own blockchain and allows the holder to use it for investment or economic purposes.
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