A token is a digital asset that is issued on a blockchain. Tokens can represent anything from commodities to shares in a company.
In the case of Binance, tokens are used to represent different assets on the Binance platform.
Binance is a cryptocurrency exchange that launched in July 2017. Since then, it has become one of the most popular exchanges in the world.
Binance offers a wide variety of digital assets to trade, including Bitcoin, Ethereum, Litecoin, and more.
In order to trade on Binance, you need to have a balance of Binance Coins (BNB). BNB is the native token of the Binance platform.
It can be used to pay for trading fees on the exchange. BNB can also be traded on Binance against other cryptocurrencies.
The Binance Coin is an important part of the Binance ecosystem. It provides utility and helps to drive adoption of the platform.
If you’re looking to get started with trading on Binance, then you’ll need to understand how the token works.