- A trading app and Visa debit cards are part of Crypto.com’s ecosystem.
- The private Brave browser’s utility token is the BAT.
A utility token differs from a standard cryptocurrency because it has extra functions. They aren’t money per se, but rather a means of providing customers with access to various products and services.
To fund the platform’s development and provide investors early access to the platform’s benefits, many of these tokens begin as an ICO (initial coin offering). If users want to pay for Uber trips or trading fees on crypto exchanges, they may utilize the tokens. Let us look at the top 3 native coins launched by crypto giants.
Binance Coin (BNB)
As a significant cryptocurrency exchange, Binance has developed its own ecosystem. In the Binance Smart Chain and the Binance Chain, the native utility currency is called Binance Coin.
Specifications for a token On the Ethereum Chain, BEP-20 and BEP-2 extend to ERC-20. BEP-2 and BEP-20 coins are sent via the Binance Chain using BNB. Furthermore, as a reward for validators that submit transactions to the blockchain, the token’s value is used to charge them a fee. According to CoinMarketCap, the BNB is trading at $526.53.
Crypto.com Coin (CRO)
CRO, like BNB, is the native token of the well-known crypto exchange. The CRO currency was first introduced in 2018 by Crypto.com. Its price almost quadrupled due to celebrity endorsements and business collaborations.
A trading app and Visa debit cards are part of Crypto.com’s ecosystem. Moreover, staking awards, higher interest rates, and lower trading expenditures are all possible benefits for users. CRO is a voting mechanism for the Crypto.com Chain. According to CoinMarketCap, the CRO is trading at $0.5231.
Basic Attention Token (BAT)
The private Brave browser’s utility token is the Basic Attention Token (BAT). Because it runs on the Ethereum (ETH) network, it is a kind of ERC-20 token.
The primary goal of BAT is to incentivize people to watch commercials. Users will see fewer ads and a higher percentage of click-through due to this initiative. According to CoinMarketCap, the BAT is trading at $1.16.