How To Buy Binance Coin BNB in May 2024

Since then, BNB has greatly appreciated in price and Binance’s ICO was considered one of the more successful ICOs around. For investment purposes only you can use eToro and skip all three steps. As a result, Binance Coin (BNB) – its token, appreciated in value as well. In this post, I’ll give a brief overview of what BNB is and where you can buy it online.

You are unable to access

You can buy BNB using fiat currency as Binance is one of the best fiat to crypto exchanges around. The exchange offers payment methods, including bank transfers, debit cards and e-wallet solutions. Moreover, existing crypto holders can fund an account with Bitcoin or other altcoins for free. Binance also doubles as a safe P2P crypto exchange in the market that opens the doors to more payment methods to acquire BNB tokens.

How To Withdraw From Binance

Our estimates are based on past market performance, and past performance is not a guarantee of future performance. One stock that might be an intriguing choice for investors right now is Airbnb, Inc. (ABNB Quick QuoteABNB – Free Report) . This is because this security in the Internet – Content space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. Depending on which tokens you want to stake, select the FDUSD Pool or BNB Pool.

  1. You can also purchase it from instant exchanges like Moonpay or Ramp.
  2. If you’re wondering where to buy BNB besides Binance, we review two other options below in addition to Binance.
  3. Her knowledge of words and numbers helps her write clear stock analysis.
  4. Binance.US is the Us-based Binance affiliate regulated by the US Financial Crimes Enforcement Network (FinCEN).
  5. The exchange swapped the ERC-20 BNB tokens to the BEP-2 tokens on the same day the mainnet went live.

Payment methods to buy BNB

Following the success of the trading platform, Binance opted to launch a new blockchain similar to Bitcoin or Ethereum dubbed the Binance Chain. Now that Binance had a blockchain of its own, it was only natural that it would issue new BNB tokens on the Binance Chain to replace those that were available on the Ethereum blockchain. The exchange also allows you to take advantage of trading discounts when you purchase crypto with BNB. You purchase BNB from decentralized and other centralized exchanges as well, but will likely incur gas fees incomparable to Binance’s fees. Numerous top centralized and decentralized exchanges support BNB purchasing and even trading.

How to buy Binance Coin with Bitcoin

Select the crypto you’d like to purchase, the fiat currency you want to buy crypto with, and your country of residence. Look through the best offers and choose the one that suits you most. Investors can easily purchase BNB on either a decentralized exchange (DEX) like PanakeSwap or using a centralized and secure platform like the Binance exchange.

The first step to buying BNB is to decide on what type of cryptocurrency services to use. There are several options which include fiat-to-crypto exchanges, trading platforms, decentralized exchanges and brokerages to choose from. Other important considerations to finding the right exchange are the deposit, trading and withdrawal fees, account and wallet security and customer support. Binance Chain is a decentralized blockchain network primarily designed for token issuance and trading. It provides a high-performance platform for creating and transferring digital assets. Binance Coin (BNB) initially existed on Binance Chain and played a crucial role as the native cryptocurrency within that ecosystem.

The next best way to buy BNB is to use the official Binance cryptocurrency exchange. You want to click on the last one labeled ‘Buy.’ This will open up a new dialog screen to choose the asset you want to buy. In our case, we are buying BNB, so go ahead and select BNB from the dropdown list. According to the whitepaper, the exchange would use 20% of quarterly profits to buy back outstanding tokens and burn them.

In regard to where to buy BNB, your choice of exchange will depend on your priorities. Many BNB use cases center on the Binance exchange itself, but the BNB token is also widely used in decentralized finance (DeFi) on the BNB Smart Chain. This allows you to move your crypto to your own self-custody wallet for safekeeping.

Although the methods to purchase BNB largely align across these exchanges, some nuances may exist. In this guide, we’ll highlight the process using YouHodler, notable for its user-friendly interface and significant presence in the DeFi lending arena. Yes, eToro, Binance, and OKX all support BNB purchases using a debit card. OKX delivers powerful trading tools for advanced traders while also making trading fees affordable. Currently, Binance offers 25% off when you pay your trading fees with BNB. Both OKX and Binance offer some of the lowest trading fees available anywhere, and both offer additional discounts based on volume.

OTC desks and services enable you to purchase BNB with cash, often for larger amounts. We aggregate crypto offers from a variety of fiat payment providers so that you can always find the very best one. We take a comprehensive security approach to ensure your crypto investments and identity are safe. We provide quick crypto purchases to more than 2.6 million users every month.

Although it caused some price changes for the BNB coin, Binance remains a trusted exchange used by millions for cryptocurrency transactions. Unfortunately, that still doesn’t mean that you can just go to PayPal and buy BNB, for two reasons. The first reason is the fact that PayPal only made cryptocurrencies available in the US and the UK, and people from other countries do not have the ability to access digital coins.

The main principle behind hardware wallets is to provide full isolation between the private keys and your easy-to-hack computer or smartphone. The only people you can trust for storing your crypto assets is yourself. Binance-Coin can be purchased on crypto exchanges by using fiat currencies.

Binance Smart Chain is essentially a copy of the Ethereum network but with a few major tweaks like its consensus mechanism (PoSA). Once you’ve purchased your BNB, you’ll need to how to read stock charts have a place to store it. You have the option of keeping your coins in the custody of the exchange where you purchased them, or you can move them into your own digital wallet.

Contrary to many other alt L1s, BNB actually has a robust ecosystem. This includes decentralized exchanges, yield farms, NFTs, and more. Binance launched Binance Smart Chain (BSC) in September 2020 as a solution to the limitations of Binance Chain, which it had originally deployed in April 2019. While Binance Chain prioritized ultra-fast trading, it lacked smart contract functionality due to the high computational power required for these contracts. In contrast, BSC was designed as a sidechain to Binance Chain, specifically to support smart contract programmability while maintaining high transaction speed.

MetaMask and Zengo, the wallets mentioned earlier, are both hot wallets. This means the private keys are stored on a device that connects to the internet. Cold wallets, often called hardware wallets, offer more protection by storing the private keys on a separate device that connects to your computer or mobile device as needed. When you need to make a transaction, you authorize the transaction using the cold wallet’s interface.

For example, holding BNB coins allows traders to save considerably on spot trading, margin trading, and futures trading on the Binance exchange. There are several ways to buy BNB, but most of these are unofficial and sometimes risky. Not just that but methods such as using third-party brokers that accept credit and debit cards can be extremely pricey. We are not discouraging or generalizing when we say unofficial sources of BNB are bad places to get the tokens, but we encourage you to research before choosing which platform to use. To use the BSC chain or earn Binance’s BNB-based discount, you’ll need to buy some BNB tokens.

The platform also supports PayPal and other payment services, depending on your location. For this walkthrough on how to buy BNB, we’ll use eToro because the platform is easy to use and offers additional newbie-friendly features. These include copy trading (following the moves of successful traders) and a $100,000 demo account to practice trading. Because the exchange is a third party, you’ll need to assess whether their security protocols and business practices are up to snuff. Centralized crypto exchanges have been popular targets for hackers, given the large amounts of money they store on their platforms. Trust Wallet is a secure, self-custody crypto wallet supporting 10M+ assets across 70+ blockchains including BNB.

All the exchanges we reviewed use cold storage to safeguard most of the crypto on the exchange. All platforms also enforce two-factor authentication to help protect individual accounts against breaches. As the exchange that initially launched BNB, Binance offers the highest liquidity, with more than 20% of all BNB spot trades taking place on the Binance exchange. Binance is also known for its low fees Binance Advanced Trade, starting at 0.1% for limit orders and market orders with an additional 25% discount for fees paid in BNB.

Follow these simple steps to buy some Binance Coin tokens on Trust Wallet using a credit or debit card. If this is your first time using Binance or the credit/debit purchase option, you will need to link your payment card to Binance. In the follow-up screen, click the [Add new card] button to link your card. Next, select the fiat currency supported by your preferred payment method.

However, buying BNB can be risky, as is the case with most cryptocurrencies. Despite the sector’s popularity, crypto investments are volatile, meaning the price of a coin today may not be a strong indicator of what it will be in the future. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor.

However, our editorial content remains unbiased, reflecting our own opinions or the general information available. For more information on our company policies, read the Affiliate Disclosure, Privacy Policy, and Terms & Conditions. However, depending on how you want to use the Binance Coins, you may find that keeping them on the Binance exchange is the best option. If you have to use an external wallet, Trust Wallet is a solid alternative operated and maintained by Binance. Your BNB tokens will be deposited to your Binance ‘Fiat & Spot’ wallet as soon as the transaction is processed.

Bank transfers are commonly used for more substantial transactions, making it suitable for investors who want to invest substantial amounts of money in Binance coin. Some people prefer wire transfers because of lower fees compared to card transactions. Credit or debit card payment is one of the effortless ways to buy BNB and other cryptocurrencies in a fast and secure manner. With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency. Along with being a crypto exchange, also has an NFT marketplace. Users also have the option to stake their crypto and earn interest of up to 14.5% on the platform.

Deja un comentario

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *