It can be slightly confusing that Binance is a crypto coin (BTB) and also one of the largest crypto exchanges.
Buyers and sellers of NFTs are often criticizing Ethereum in 2021 because of their high “gas fees” and opted to do their transactions on Binance. This is why Ethereum will soon have their new and improved version Ethereum which won’t have the gas fee problem.
Now Binance came upon the scene in 2017 and it owns both the Binance exchange and the DEX or Decentralized exchange.
It is said to have a “burn” every quarter based on trading and volumes and its platform.
It is called a base pair which like other major currencies is often used to buy other more obscure or hard to buy crypto coins.
(under construction Dec 19, 2021)