Many of you have started to ignore the BNB coin $BNB and not talk about it or promote it, even though it is the backbone of the coins and is close to the big ones, and the separating factor between how much its influence affects more than one coin in trading. It also deserves to be held in the fintech sector. Cryptocurrencies are among the most elements that have attracted attention recently, especially after many countries have already begun adopting them for daily use.

However, given how quickly this sector changes and the lack of financial and technical expertise among many people, some find it difficult to distinguish between different cryptocurrencies, including Binance Coin.

In this comprehensive guide, we’ll analyze BNB from a rigorous Sharia and financial perspective, while introducing you to alternative Sharia-compliant investment tools offered by licensed platforms such as Funding Souq.

What is Binance Coin?

Binance Coin was launched in 2017 by Binance, the world’s largest cryptocurrency exchange by trading volume.

Initially, the Binance blockchain was built on the Ethereum blockchain (Binance’s white paper, page 7) using an ERC-20 token, and was later migrated to its own blockchain, known as the “BNB Chain”.

Binance Coin has a maximum supply of 200 million BNB tokens. One of its key initial features was reducing trading fees, allowing users to receive a discount of up to 25% on trading fees.

Over time, Binance Coin’s uses expanded to include a cryptocurrency debit card that enables real-world transactions, as well as use within the Binance blockchain itself.