What is the difference between WBNB and BNB?

3 answers

• Nov 24, 2021 · 3 years ago
  WBNB and BNB are both cryptocurrencies, but they serve different purposes. BNB, also known as Binance Coin, is the native cryptocurrency of the Binance exchange. It is primarily used for paying transaction fees on the Binance platform and participating in token sales on Binance Launchpad. On the other hand, WBNB, or Wrapped BNB, is an ERC-20 token that represents BNB on the Binance Smart Chain. It allows BNB holders to use their tokens on the Binance Smart Chain ecosystem, which offers decentralized applications and smart contract functionality. So, while BNB is specific to the Binance exchange, WBNB can be used on other platforms built on the Binance Smart Chain.
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• Nov 24, 2021 · 3 years ago
  WBNB and BNB may sound similar, but they have distinct features. BNB is a native cryptocurrency that powers the Binance ecosystem, providing benefits such as reduced trading fees and access to exclusive features. It has its own blockchain, Binance Chain, and can be used for various purposes within the Binance ecosystem. On the other hand, WBNB is an ERC-20 token that represents BNB on the Binance Smart Chain. This allows BNB holders to interact with decentralized applications and DeFi protocols on the Binance Smart Chain. While BNB is primarily used within the Binance exchange, WBNB expands the utility of BNB beyond the Binance ecosystem.
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• Nov 24, 2021 · 3 years ago
  When it comes to BNB and WBNB, there's a key distinction to be made. BNB is the native cryptocurrency of Binance, a leading cryptocurrency exchange. It has its own blockchain and is used for various purposes within the Binance ecosystem. On the other hand, WBNB is an ERC-20 token that represents BNB on the Binance Smart Chain. This allows BNB holders to access the growing DeFi ecosystem on the Binance Smart Chain, which includes decentralized exchanges, lending platforms, and more. So, while BNB is specific to Binance, WBNB opens up new opportunities for BNB holders in the world of decentralized finance.
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