If it’s this is how the bitcoin bubble will burst a third-party payment channel, you’ll be redirected to that channel. If it’s a credit/debit card you’ve linked to your Binance account, most of the action will happen inside Binance. The best part is that there are several different ways to buy BNB coins. The most popular method is probably using the “Buy Crypto” option; other methods include bank deposits, P2P (Peer-to-Peer) trading, spot trading, and Binance Convert. Despite competition from Coinbase and others, it is the biggest by market capitalization.

Buy Binance Coin with eWallets Like PayPal

Because the coin runs on a popular blockchain, BNB is widely supported by many digital wallets. Keep in mind that rates on YouHodler might fluctuate in real-time. Make sure you select the payment method that best fits your requirements, and double-check the preview on YouHodler before how to sell shibadoge finalizing your purchase.

The Binance team, led by its current CEO Changpeng ‘CZ’ Zhao, conducted an initial coin offering to sell BNB tokens to interested investors. In the Binance ecosystem, another digital asset exists called the Binance Dollar or Binance USD (BUSD). Even though they are both issued by the Binance crypto exchange, they are fundamentally distinct and serve different functions. Now that you can buy Binance Coin you need to learn how to store it and other cryptos safely. If you’re a frequent user of Binance and transact in BNB frequently, then it makes sense to store some of your position on your BNB exchange wallet. However, the best practice is to move any large sums of money to a cryptocurrency wallet that you manage the private key for.

We recommend Binance as they have the lowest reading fees of 0.10% and the best overall rating. One of the best places to buy and trade BNB is on the Binance exchange. Binance is one of the leading exchanges, racking up the highest trading volume daily. It is the perfect choice for traders to manage or execute high volumes of trades.

BNB is popular, largely due to the weight that the name Binance carries in the industry. However, the blockchain also offers low gas and transaction fees compared to Ethereum, which is attractive visual studio vs sublime text for developers and decentralized application (DApp) users. Transfer funds (USD) into your account from a bank account, or debit or credit card. Depending on the exchange, you may be able to transfer funds using Payoneer, PayPal, Skrill, Venmo, etc. In the above guide, we have reviewed the four best exchanges where you can buy all popular coins. We then proceeded to discuss the top reasons why anyone should consider investing in the next crypto to explode.

Step 2: Get a Wallet

Most exchanges need a minimum $50 deposit to exchange it for crypto. The table below offers a detailed overview of different amounts and their respective costs. This will open the spot trade page, enter in the search box BNB/Coin which you have bought or deposited. Find all the answers to your MoonPay questions and start swapping cryptocurrency with confidence. Many exchanges allow you to make automated recurring purchases at specific intervals, e.g. once every week or once a month.

Investors can easily buy Binance Coin on FTX, Coinbase, eToro, Kraken, and several others. The digital asset is not exclusive to the Binance exchange, but investors should check their preferred option to know the crypto pairs they support before funding the account. Once you’ve set up your account, you’ll need to deposit funds to buy Binance Coin with. We’ve listed some popular ways to buy BNB and what you should know about each payment method.

To do that, click on the USD button and select the fiat of your choice from the dropdown list. To the left of that button is a space to fill in the amount of money you wish to spend. In the last stage, you will be required to provide the details of your order, including the number of tokens you wish to buy. Once you provide this information, click on the Next button at the bottom of the screen to fill in your credit or debit card details. Binance exchange launched in July 2017, but before the launch, the exchange needed to raise necessary funds to run the business.

How to pick the best crypto exchange for yourself?

In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. Just as Binance (global) is different from Binance U.S., Binance Smart Chain (BSC) is also a separate blockchain that was launched in September 2020.

What is Binance Coin?

Funds are SAFU, customer service is quick, and users can rely on guided assistance. This exchange ensures a smooth trading experience, which makes it a good choice. The company anticipates buying, selling, and storing cryptocurrency through various methods.

The tokens will be deposited into your Trust Wallet account as soon as the transaction is processed. We’ve mentioned before that Binance created BNB to incentivize participation in its ICO by allowing token holders to claim discounts following the platform’s launch. However, there was a big possibility that the value of BNB would fall once the discount period expired after 4 years. To counter this undesirable event, Binance adopted the concept of coin burning within their whitepaper, committing to reduce the total BNB supply by 50% or 100 million tokens. It’s worth noting that despite BNB tokens existing in various versions, the total token supply is maintained across these platforms.

  • We advise that this decision be informed by such factors as your risk tolerance, trading skills, investing strategy, and investing skills.
  • We offer localized payment options that cater to regions all over the world.
  • Binance raised about $15 million from the ICO, and over 100 million tokens of BNB were distributed to the public.
  • In contrast, BSC was designed as a sidechain to Binance Chain, specifically to support smart contract programmability while maintaining high transaction speed.
  • EToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.
  • BNB holders who have large volumes of the currency may be eligible for discounts on trading fees, a practice that encourages traders to use the coin.
  • The dip was quickly followed by a sharp uptrend in the first six months of 2019 that saw BNB price reach.
  • It can also be used to trade for other cryptocurrencies, such as Bitcoin, Dogecoin or Litecoin.

This method is often more suitable for crypto beginners with little experience buying crypto. Several exchanges offer the sales of BNB, and Binance is one of the most popular exchanges. Factors to consider when selecting an exchange are the security level of the platform, the available coins, flexible payment methods, etc. First is the fact that most exchanges won’t charge you a processing fee for card deposits. Cards are also preferred because they have relatively fast transaction processing speeds. The downsides of using cards, however, include high transaction processing fees by card issuers.

eToro Crypto

FinCEN-registered exchanges contribute to a more secure financial system in the US and provide you with better consumer protections compared to exchanges based in other countries. Some platforms only offer 1 way to buy Binance Coin, while others provide several choices. The 2 most common ways to buy BNB are on the spot market or with an “instant buy” feature. BNB us a hybrid consensus mechanism known as proof-of-stake authority (PoSA).