a Bin file is an image file - It's is native to the PC, it is mostly used for games and other format that have mutitracks, otherwards: if the cd has audio files as well as program files, an iso image can only see one track.
In most cases you need a cue file to use it - but you will find at times you have to edit the cue file, which can be a pain in the ass .. but in any case to extract you could use win iso - just open and to burn it you can use a couple of diff progs, my personal favorite is alcohol ..