What is BNB Token for?

Modified on Fri, 24 Mar 2023 at 06:53 PM

BNB has many different usages ranging from buying virtual gifts to paying for travel expenses and there are more and more cases including using as a discount and payment for trading fees.


Regarding the trading fees, each order of trade will incur a standard fee of 0.1% of the trading volume and traders can pay either by the assets they are trading or by using BNB. A special discount on the trading fees can be earned when choosing to pay in BNB.


All in all, it is recommended for frequent traders on Binance to consider getting more BNB to pay trading fees at a cheaper price. Please be aware that the discount on the trading fee follows a predefined schedule and the deduction will be reduced yearly until 2022.


Year 1 (July 14, 2017 - July 14, 2018)50%
Year 2 (July 14, 2018 - July 14, 2019)25%
Year 3 (July 14, 2019 - July 14, 2020)12.50%
Year 4 (July 14, 2020 - July 14, 2021)6.75%
Year 5 (July 14, 2021 - July 14, 2022)

0% (No Discount)

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