Wrapped BNB

What is WBNB and how Does It Work?

Incorporated as a token on the BNB Smart Chain (BSC) and on any Ethereum Virtual Machine (EVM) compatible blockchain, it enables the different usage of BNB (Binance Coin). The BEP20 standard helps in maintaining parallel operation with Binance Chain. One can shift funds between the two chains. When included in BSC, it integrates with decentralized applications (DApps) and facilitates participation in the DeFi ecosystem.

The migration of BNB to its own blockchain in 2019 with the formation of the Binance Chain marked an important event. On this blockchain, it carries various functionalities. Over the years, token burns have been conducted. The arrival of BSC and wBNB broadens the scope of BNB as it now supports the Binance Chain and BSC's ecosystem. Additionally, BNB can be utilized on the Binance Chain for various activities and exchanges.

The Vision and Mission Behind WBNB

Wrapped BNB (WBNB) serves as a link between Binance Chain and BNB Smart Chain, allowing individuals to interact moderately with decentralized applications (dApps) on BNB Smart Chain. Converting BNB into WBNB eliminates the direct need for Binance Coin (BNB) on BNB Smart Chain, but it still has a role in carrying out transactions and using dApps. WBNB contributes to cross-chain transfer and engagement, facilitating a somewhat more interlinked blockchain environment. The token was conceptualized and developed to enhance the compatibility and utilization of dApps on BNB Smart Chain, matching the inherent functionalities of BNB while augmenting its capabilities for regular cross-chain interactions.

How to Buy and Store WBNB?

To purchase WBNB, Flooz.xyz offers a streamlined process. Flooz.xyz is a one-stop solution to buy this token, using a smooth checkout, without the need to own a wallet. Tap tap go! All payment methods are supported. Using the Flooz self-custodial web wallet, you ensure seamless WBNB transactions, including storing, sending, and receiving tokens. You can create a self-custodial wallet directly on Flooz using your email, Google, and Apple ID in a matter of seconds. This seamless and optimized trading experience has captivated over 85,000 active traders on Flooz.xyz. This also ensures that you have access over your funds at all times, thanks to the power of cryptography. Flooz.xyz aggregates more than 50+ providers to ensure you with the fastest and cheapest payment routes for your trades.

WBNB Metrics:

• Current price: $547.2046

• Market cap: $711.51 M

• All-time high: $718.75 (Jun 6, 2024)

• All-time low: $23.6 (Sep 24, 2020)

• Daily trading volume: $299.57 M