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How To Buy Binance Coin (BNB)?

Binance Coin 500x286 1 - How To Buy Binance Coin

A common question you often see on social media from crypto beginners is “Where can I buy Binance Coin?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Binance Coin (BNB)

First, you will need to open an account on a cryptocurrency exchange that supports Binance Coin (BNB).
We recommend the following based on functionality, reputation, security, support and fees:

1

 Binance

Create Binance Account - How To Buy Binance Coin

Fees (Maker/Taker)            0.075%*-0.1%*

Cryptocurrencies
Available for Trade                             500
+

Sign-up bonus
 10% reduced trading fees*

Available in
Europe, Asia, Oceania, Africa

2

 FTX

Create FTX Account - How To Buy Binance Coin

Fees (Maker/Taker)            0.020%*-0.070%*

Cryptocurrencies
Available for Trade                             200
+

Sign-up bonus
 5% reduced trading fees*

Available in
Europe, Asia, Oceania, Africa

3

 Kucoin

Create Kucoin Account - How To Buy Binance Coin

Fees (Maker/Taker)                       0.1%*-3%*

Cryptocurrencies
Available for Trade                               
250+

Sign-up bonus
 Up to $500 in USDT vouchers*

Available in
North America, South America, Europe, Asia, Oceania, Africa

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Binance Coin (BNB) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Binance Coin (BNB)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Binance Coin (BNB) or Binance Coin (BNB) trading pairs. Look for the section that will allow you to buy Binance Coin (BNB), and enter the amount of the cryptocurrency that you want to spend for Binance Coin (BNB) or the amount of fiat currency that you want to spend towards buying Binance Coin (BNB). The exchange will then calculate the equivalent amount of Binance Coin (BNB) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Binance Coin (BNB) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Binance Coin (BNB)?

Binance Coin (BNB) powers the Binance Ecosystem and is the native coin of the Binance Chain and the Binance Smart Chain. BNB has several use cases:

  • Pay for trading fees on the Binance exchange;
  • Pay for trading fees on Binance DEX (Decentralized Exchange);

  • Pay for transaction fees on the Binance Chain;
  • Pay for transaction fees on the Binance Smart Chain;

  • Pay for goods and services for both online and in-store purchases (e.g., using Binance Card or Binance Pay);

  • Book hotels, flights and more at Travala.com;

  • Community utility token on the Binance Smart Chain ecosystem (such as games and DApps);

  • Participate in token sales hosted on the Binance Launchpad;
  • Donate on Binance Charity;

  • Provide liquidity on Binance Liquid Swap.

BNB was launched through an Initial Coin Offering (or ICO) that took place from June 26th to July 3rd, 2017 – 11 days before the Binance exchange opened for trading. The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although BNB was launched through an ICO, BNB does not provide users with a claim on Binance profits and does not represent an investment in Binance.
BNB was originally issued as an ERC-20 token, running on the Ethereum network, with a total supply of 200 million coins. 100 million BNBs were offered in the ICO, but the current total supply is lower due to periodic burning events, in which Binance destroys BNB held in its treasury.
Although initially based on the Ethereum network, the ERC-20 BNB tokens were later swapped with BEP-2 BNB on a 1:1 ratio. The BEP-2 BNB is the native coin of the Binance Chain, and the mainnet launch was announced on April 18th, 2019.
In September 2020, Binance launched the Binance Smart Chain (BSC), a blockchain network that runs in parallel with the Binance Chain. This means that you can now find BNB in three different forms:
  • BNB BEP-2 on the Binance Chain.

  • BNB BEP-20 on the Binance Smart Chain.

  • BNB ERC-20 on the Ethereum network.

Who Are the Founders of Binance Coin?

Changpeng Zhao is the founder and CEO of Binance. In 2001, Zhao joined Bloomberg as head of tradebook futures development. He spent four years with the company and later joined Fusion Systems as a partner.

Since 2013, Changpeng Zhao has been actively involved with blockchain technology and cryptocurrencies. He became head of development at Blockchain.com, and in 2015 he founded BijieTech. In 2017, Zhao officially launched Binance, and he has been the CEO of the company ever since.

Official website: https://www.binance.com/

Market Overview

Coinmarketcap.com

Find the latest Binance Coin (BNB) price chart, trade volume, market cap, and other vital information to help you with your cryptocurrency trading and investing.

Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:

Market Capitalization And Daily Trading Volume

Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)

Circulating And Total Supply

Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).

CMC - How To Buy Binance Coin

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