In this guide you’ll get information about where to buy Binance Coin, if you are planning to buy BNB – You’re in the right place!
Binance is a word made up from combining binary with finance. Currently Binance is the biggest cryptocurrency platform that is available. The company was first founded on 2017 in Shanghai before moving to Japan and currently planning on moving their headquarters to Malta. They also have their own cryptocurrency called Binance Coin. The ICO take place between 14th to 27th of July 2017.
The coin will be used by the platform user when paying fees as well as used in crypto trading. It is created from Ethereum blockchain as the base, thus it also has similar function. However, the company announce in 2018 that they will be using their own blockchain. Thus, in 2019 the coin then be upgraded into new decentralized exchange system.
- Official site: https://www.binance.com/
- Twitter: https://twitter.com/binance
- Reddit: https://www.reddit.com/r/binanceexchange
- Bitcointalk: https://bitcointalk.org/index.php?topic=2080842.0
- White Paper: https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
BINANCE COIN (BNB) Features
- Fast speed. The engine used by Binance has superb capability of handling 1.4 million orders every second which make it among the fastest engine available.
- Liquidity. Binance has around 380 types of cryptocurrency traded in the platform with competitive price.
- Low fees. Trade fees is generally low especially when done using BNB where users will earn additional discount.
- Constant trading. Users of Binance platform constantly trade the coin which makes it fast growing with increased value.
Where to Buy, Sell and Trade BINANCE COIN aka BNB
You can basically use debit card, credit card, or even PayPal to buy the BINANCE COIN (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the BINANCE COIN as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to BINANCE COIN. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports BINANCE COIN currency and exchange your Ethereum or Bitcoin with the BINANCE COIN
- Store your BINANCE COIN to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying BINANCE COIN, once you get your Bitcoin or Ethereum, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with BINANCE COIN:
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 565+ more
- Trading Pairs: 1118+
- Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
- Fiat Currencies: USD, EUR, PLN, GBP and 47+ More
- Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 512+ more
- Trading Pairs: 1044+
IMPORTANT! Once you are registered to any of the above, find the BTC/BNB or ETH/BNB trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your BINANCE COIN (BNB) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy BINANCE COIN (BNB) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the BINANCE COIN. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy BINANCE COIN (BNB) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy BINANCE COIN (BNB) with Skrill?
You can’t buy BNB directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to BINANCE COIN. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy BINANCE COIN (BNB) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/BNB and begin the transactions.
Can I Buy BINANCE COIN (BNB) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/BNB trading pair.
What Is the Best Payment Method to Buy BINANCE COIN (BNB)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the BINANCE COIN right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect BINANCE COIN (BNB)?
Once you have purchased the BINANCE COIN, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell BINANCE COIN (BNB)?
Find a crypto exchange which allow pairing BNB with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine BINANCE COIN (BNB) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a BINANCE COIN is to buy it from a reliable exchange.
Binance Coin dubbed as one of the best cryptocurrencies available today due to the populariy and support from the biggest trading platform available in the world. It is trustworthy cryptocurrencies and constantly being traded in high speed with billion trading volume every day that keep increasing their value. With low fees, it keeps attracting new users that want to know more on how to buy Binance Coin to be used in the platform and as a trading currency.