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.