How and Where To Buy Binance Coin (BNB) in 2024

Binance Coin (BNB) is a highly successful cryptocurrency that has had an incredible run since its release in 2017 by Binance ecosystem. The coin currently ranks #4 by marketcap which makes it an appealing investment for anyone who is looking to diversify their portfolio with strong tokens.

In this guide, we will walk you through how to buy Binance coin using several different methods. We cover how to buy BNB from an exchange, from a CFD trading platform and from a mobile app.

A Quick Look at How To Buy BNB in 2024

1. Find a reputable exchange: We recommend Binance however, it is a good idea to research different options and find an exchange that meets your needs.
2. Create an account: Sign up to the exchange using your email address and complete the necessary verification process. This might include uploading proof of identity.
3. Fund your account: Connect a bank account to your account and then fund it with the minimum deposit. Be wary of any fees that may be charged during this process. 
4. Open a BUY order: Search for BNB, click on the coin and then open a BUY order. It will take a few minutes for the crypto to appear in your account. 
5. Store your BNB: Send your tokens to your Binance wallet (you will need to create one if you haven’t already). 

Best Crypto Exchanges to Buy Binance Coin in 2024

Let’s take a look at some of the best places to buy BNB and other cryptos in 2024.

eToro

eToro is a fantastic broker for beginners thanks to its easy-to-use interface. The platform offers multiple features for beginners like social trading and demo accounts, making it useful for buying BNB.

Capital.com

Capital.com offers an amazing portfolio of commodities, cryptocurrencies, and stocks. Therefore, you can purchase BNB and other products to diversify your portfolio. Moreover, it provides an interactive smartphone app so you can trade on the go.

Binance

Binance is the creator of the BNB token and offers several trading pairs, including BTC/BNB, USDT/BNB, and ETH/BNB. With this crypto broker, you can use BNB to buy NFTs, stake, lend, or hold as an investment crypto assets.

How We Compare

In the comparison table, we include crucial information such as trade values, transaction fees, and ease of use so if you are new to cryptocurrencies, you know which platforms are the easiest to navigate and where to go to avoid hefty transfer fees. For your peace of mind while trading, we state whether or not each crypto is regulatory-approved and by which institutions.

We even add our own overall rating of each crypto coin.

There is a lot happening in the cryptocurrency market right now, with a variety of tokens created on different platforms and a mode of operation that is very unlike that of traditional financial institutions. Both novice and experienced investors can use our comparison tables to simplify the process of identifying the right cryptocurrencies for them.

As with any investment, the decision to enter the cryptocurrency market requires thorough research. You can rely on us to provide the most up-to-date and accurate information, as we only use credible and reputable sources for our content. This puts investors in the best position to make smart crypto decisions.

Buy BNB on eToro: Step-By-Step Guide

Best Wallet to Buy and Store Binance Coin – BNB Wallet Comparison

After you’ve bought Binance Coin, you’ll want to store it in a hot or cold wallet for safety. The type depends on your needs while investing. Hot wallets are great for those actively trading, while cold wallets are perfect for holding long-term. In addtion, While considering the longevity of holding Binance Coin, one should take into account the Binance vs crypto.com debate, assessing each platform’s benefits to fully understand the potential long-term gains and opportunities.

In some cases, you can use the cryptocurrency wallet to buy BNB directly without using an exchange. Also, some providers allow you to store multiple coins like Bitcoin and Ethereum. Below you’ll find the best options for the BNB token.

How to Buy BNB Using a Decentralized Exchange

Decentralized Crypto exchange (DEXs) are platforms that are not owned by a singular company. Instead, they use smart contracts to function and allow trades without signing up. This also means you can buy coins anonymously. However, they require connecting a crypto wallet to the application, making it for more tech-savvy investors. Below you’ll find the best-decentralized crypto exchange (DEXs) for buying BNB.

Buy BNB on PancakeSwap: Step-By-Step Guide

Can You Buy BNB Using P2P Services?

P2P (peer-to-peer) platforms connect traders without needing an intermediary. They can help set up real-world or online transactions. Binance’s official P2P service makes it the top option for acquiring their native cryptocurrency. Here are some alternative P2P websites:

Can You Buy BNB Using Other Trading Platforms?

This section highlights popular exchanges that provide various services for crypto products. We’ll specify if you can purchase Binance Coin through their platform.

What Is the Difference Between Buying Binance Coin and CFDs?

The main difference between CFDs and to buy Binance Coin is that you will not own the asset with a derivative product. Therefore, you cannot withdraw CFDs to a private wallet and rely on the platform to safely hold your investment. However, buying real coins means you have full control and can store it in hardware wallets or spend it.

Best Ways to Buy BNB

This section will focus on the best methods to buy BNB safely and conveniently. Credit or debit card, pay from a bank account by bank transfer or by PayPal? Which payment method to choose? We will provide the best payment methods to buy BNB.

Buy BNB instantly with bank transfer – the fastest way

Do you want to buy BNB instantly? The best way to buy BNB is by depositing funds to Binance via bank transfer using your bank account. However, you will need to verify your account first, and some regions are restricted to buy BNB via bank transfers, so from that countries you can’t buy BNB instantly.

Buy BNB with PayPal – the safest way

Unfortunately, you cannot buy Binance Coin through PayPal, but you can use it as a deposit method. eToro accepts bank transfer money from various banking apps, including PayPal. Afterward, you can buy BNB through the trading platform.

Buy Binance Coin using a credit or debit card – the cheapest way

To buy Binance Coin via debit card, you’ll need to use an exchange that accepts it as a deposit method. Binance and KuCoin are excellent options that have the lowest trading fees.

If you want to buy BNB with a credit card, the best option is Binance, as it has multiple trading pairs for the token.

Best Platforms to Buy Binance Coin in Other Countries

Now, we’ll dive into the best exchanges to buy BNB in various countries. BNB is Binance’s native token, and since the platform is available in a multitude of countries, it’s also the best place to trade this cryptocurrency.

What Are the Fees When you buy Binance Coin?

Here are the fees for buying $1,000 worth of BNB and holding it for 30 days.

Cheapest Way to Buy BNB

These are the best platforms that offer the best fee structures for their customers.

Fastest Way to Buy BNB

If you want to buy BNB quickly, then these are the top apps because they have short sign-up, deposit, and buy processes.

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

How to Buy Binance Coin Anonymously?

Perhaps anonymity is a requirement when you buy Binance Coin, as you want your investments to stay private. This section will expand on how to acquire BNB without verification.

How to buy Binance Coin without registration or KYC?

To avoid a KYC, you can use a decentralized exchange. These apps built on the blockchain do not require creating an account.

How to buy Binance Coin without verification?

You can purchase BNB without verification by using Binance or KuCoin. They do not require ID to deposit crypto and trade. However, you will not be able to deposit fiat currency.

Can you buy Binance Coin offline?

Unfortunately, you cannot buy BNB offline as transactions rely on the blockchain, which is always online.

Should You Buy or Sell Binance Coin?

Here are some pros and cons to help you decide if BNB should be part of your investment portfolio.

Do You Need to Pay Tax on Binance Coin in the Us?

The IRS states cryptocurrency investments as “property”, meaning your currency is taxed like any other asset you own, for example, silver or stocks. The taxes are divided into two parts: short-term and long-term capital gains. Once you sell, you have to pay a specific percentage amount based on the profits.

What to Consider When You Purchase Binance Coin

Like any other crypto, there are certain factors to take into consideration when you purchase BNB. You should remain mindful of:

Picking the wrong place to buy it

Considering the prevalence of cryptocurrency scams, it is important to purchase binance coin from an established exchange. Furthermore, since many cryptocurrency exchanges and applications do not support Binance Coin in this situation, it cannot be just any exchange.

Using a costly payment method

Usually, cryptocurrency exchanges offer a variety of payment options. Most exchanges charge the lowest fees for bank transfer to a bank account. Other options, including using a debit card or money transfer, usually have higher costs.

Check with your crypto exchange for the costs associated with each payment option. Choose the cheapest alternative to avoid paying more than necessary.

Final Thoughts

In this guide, we have covered how to buy Binance Coin using several different methods. Our recommended method for beginners is to use a centralized exchange. However, you can also buy BNB using a decentralize exchange, a CFD trading platform and even through a mobile app.

The next step is to research the different platforms that are available to use in your jurisdiction and find an exchange that offers everything you need for a seamless buying experience.

FAQs

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