Binance Coin is a native operating crypto-asset that is based on Ethereum (ERC-20) token. Its sole purpose is to provide a cheaper way to pay for trader fees when using the Binance platform as an exchange site. Binance coins, similar to other coins, can also be traded for other cryptocurrencies.
This token was created on July 21, 2017, and raised $15 million in its Initial Coin Offering. The value of this cryptocurrency is expected to grow as time passes by.
The main advantage of using Binance Coin, especially for Binance traders, is the availability of a rebate as an incentive once membership in the site reaches up to five years. This opens more opportunities for earning and profiting, especially for regular users of the platform.