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What is the difference between BNB and ERC20 tokens?

avatarGraversen TuranNov 23, 2020 · 5 years ago3 answers

Can you explain the key differences between Binance Coin (BNB) and ERC20 tokens in the cryptocurrency market?

What is the difference between BNB and ERC20 tokens?
BNB
ERC20 Tokens
Cryptocurrency

3 answers

  • avatarKianaFeb 11, 2024 · a year ago
    Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, while ERC20 tokens are tokens built on the Ethereum blockchain. BNB has its own blockchain called Binance Chain, which allows for faster and cheaper transactions compared to ERC20 tokens. ERC20 tokens, on the other hand, can be created by anyone on the Ethereum platform and are widely used for crowdfunding and tokenization purposes.
  • avatarMootjeJan 08, 2023 · 2 years ago
    BNB is primarily used within the Binance ecosystem, providing benefits such as discounted trading fees and participation in token sales on the Binance Launchpad. ERC20 tokens, on the other hand, are used across various platforms and exchanges that support the Ethereum blockchain. They have a wide range of use cases, including utility tokens, security tokens, and stablecoins.
  • avatarDibyendu MandalFeb 09, 2025 · 4 months ago
    From my experience at BYDFi, I can tell you that BNB has gained significant popularity due to its utility within the Binance ecosystem. However, ERC20 tokens have a larger market presence and are more widely accepted across different exchanges and platforms. Both BNB and ERC20 tokens have their own advantages and use cases, so it ultimately depends on your specific needs and preferences when choosing between them.

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