BNB is the native cryptocurrency of the Binance ecosystem, initially launched in 2017 as an ERC-20 token on the Ethereum network before migrating to its own blockchain. BNB was originally designed to reduce trading fees on Binance but has grown into a versatile utility token used across various decentralized applications and DeFi services.

BNB operates on the BNB Smart Chain (BSC), which offers low-cost and efficient transactions. Initially developed for internal Binance usage, BNB has expanded its utility beyond the exchange, powering smart contracts, liquidity pools, and staking opportunities across multiple decentralized finance (DeFi) platforms.

BSC’s dual-chain architecture enables fast and low-cost transactions while maintaining compatibility with Ethereum-based applications.

Since its inception, Build N Build (Binance Coin) has undergone several upgrades, including token burns to reduce supply and increase scarcity. BNB’s growing ecosystem includes decentralized apps, decentralized exchanges (DEXs), and non-fungible tokens (NFTs), positioning it as a key player in the DeFi landscape.

NB: For BNB transfers, Cryptopay supports the BSC network (BNB Smart Chain) only. All the funds sent via other networks will be lost forever.

In compliance with the Financial Promotion Act which came into force on 8 October 2023, at 8 AM UTC, some account functionality is temporarily limited for the Cryptopay customers with verified UK residency.
Check what services are available: Service availability in the UK

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