How To Buy BNB

Binance Coin (BNB) is a highly successful cryptocurrency that has had an incredible run since its release in 2017 by Binance ecosystem. The main purpose of the coin is to hold as an investment asset or use it to get a 25% discount on fees when trading on Binance. However, the established coin has multiple uses, such as smart contracts, NFTs, and DEXs. Learn more about them, along with the best platforms for buying BNB, such as Binance and KuCoin.

Best Crypto Exchanges to Buy BNB

	Partner Name Label	Label	CTA	Customer Support	Launch Date	Security Features	Mobile Support	Disclaimer
	1. eToro	4.8	Visit Websiteetoro.com	Live Chat	2007	2FA, Biometrics	iOS, Android	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, does not fall under EU protections & is not supervised by the EU regulatory framework. Investments are subject to market risks, including the loss of principal.
	2. Binance	4.5	Visit Websitewww.binance.com/en	Live Chat, Email	2017	2FA, Biometrics	Android, iOS
	3. Pepperstone	4.5	Visit Websitepepperstone.com	Email, Live Chat, Telephone, Whatsapp	2010	2FA, Biometrics, Pin	Web App, iOS, Android	Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.9% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
	4. Changelly	3.7	Visit WebsiteChangelly.com	Email, Live Chat	2015	2FA, Biometrics	Android, iOS, Web App

eToro - The Overall Best Way to Buy BNB

eToro is one of the most popular brokers that offers BNB due to its innovative features and user-friendliness. Take a look at the platform’s stats:

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.

Best Platforms to Buy and Trade BNB

Besides the obvious one, you can purchase and trade BNB on multiple platforms. Below is a rundown of the best exchanges and brokers for different types of investors and traders.

Buy BNB using Cryptocurrency Brokers - The Easiest Way

Cryptocurrency brokers are websites that act as an intermediary between users and the BNB market. Some brokers, such as Capital.com, offer CFDs, which are a way to speculate on the price of assets without actually owning them.

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.

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.

Buy BNB on eToro: Step-By-Step Guide

Step 1: Open eToro

Go to the official eToro website and press the “Start Investing” button at the center of the screen. Now type in your username, email, and password, and accept the terms & conditions. Next, access your dashboard and verify your email.

Step 2: Verify Your Identity

Provide eToro with your personal information like your name, surname, and physical address. Then verify your identity by uploading a picture of your passport, driver’s license, or ID card.

Step 3: Deposit

Using one of the deposit methods available, deposit funds into eToro. The platform accepts bank transfers, debit cards, PayPal, and various online banking apps.

Step 4: Buy BNB

Head to the cryptocurrency section and select Binance Coin. Click “Trade” and input how much money you want to convert to BNB. Finally, press “Open Trade” to acquire the token.

Step 5: Send Binance Coins to a BNB Wallet

To send Binance Coins to your BNB wallet go to the cryptocurrency tab and choose BNB. Then click “Transfer to Wallet” and the specified amount to send.

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 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.

Buy BNB Using CFDs - Best for Trading

CFDs (Contract for Differences) allow investors to buy cryptocurrencies without owning the underlying crypto assets. Most crypto investors avoid CFDs as you cannot withdraw them to private wallets or spend them. However, CFD brokers are perhaps easier to use for beginners.

Pepperstone

Pepperstone is a brilliant site for investing in BNB through CFDs due to its user-friendly platform. The crypto broker offers multiple features like an educational section, analysis, and alerts.

Capital.com

This CFD provider is an established brand that offers several cryptocurrencies, including Binance Coin. The platform is excellent for beginners as you can try the demo version before investing real money.

Best Apps to Buy BNB - Most Convenient

Overall, the most convenient way to buy BNB is with a crypto broker like eToro. The following platforms offer BNB at competitive rates with straightforward buying 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.

Buy BNB on eToro App: Step-By-Step Guide

Step 1: Create an Account

Sign up for a new account with eToro and provide your personal details.

Step 2: Verification

Next, verify your information so you can begin trading BNB.

Step 3: Deposit Money

Then deposit money into your account using one of the multiple payment methods.

Step 4: Buy BNB

Open the cryptocurrency section and find BNB. Click on the crypto, and a buy page will prompt up. Now input the amount you want to purchase and click “Open Trade” to finish.

Buy BNB With Crypto Exchanges - The Cheapest Way

If you want to buy BNB at low trading fees, you’ll need to use a crypto exchange as they have the best rates. Binance is the top platform as their native BNB token gives a 25% discount. Therefore, you’ll want to buy a small amount initially to get the discount and then buy in bulk.

Buy BNB on Binance: Step-By-Step Guide

Step 1: Open Binance and Register

Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.

Step 2: Deposit

Now, deposit funds into Binance using your preferred payment method.

Step 3: Open the Trading Interface

Next, open the trading interface and search for BNB. Then click the relevant trading pair to the currency you’ve deposited.

Step 4: Complete the Trade

Finally, fill out the box at the center of the screen. Choose the order type and the amount of money you want to exchange, then click the “Buy” button to complete the transaction.

Step 5: Confirm the Transaction Using the Blockchain Explorer

Blockchain technology is extremely transparent, and you can view all historical transactions. Websites like Etherscan, Blockchair, and BscScan are great for seeing the progress of your transfers.

Buy BNB Using Decentralized Exchanges (DEX) - The New Way

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

Step 1: Open PancakeSwap and Connect Your BNB Wallet

Go to the Binance homepage and press the register button at the top. Then provide your email and a password. Next, verify your email address and provide Binance with information about yourself. Then verify your identity by uploading a picture of your government-issued document.

Step 2: Select Cryptocurrencies

Next, choose the coin you have and BNB as the coin you want to acquire. Also, write how many tokens you want to convert in the required sections.

Step 3: Finish the Exchange

Review the trade, and if you agree with the fee rates, press “Swap”. The funds will reach your crypto wallet shortly.

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.

Binance Coin Price Prediction: What Is the Future of BNB?

Binance Coin has performed incredibly well since its creation due to its use cases. The token is mainly used to get a discount on fees for using Binance, making it valuable to hold. Let’s look at how the coin is performing:

What impacts Binance Coin price?

There are multiple factors that can impact how the coin is performing:

Bull runs: The most important factor for all cryptos, including BNB, is how the overall market is performing. During bull runs, Binance Coins perform the best due to the increase of money coming into crypto.

Regulations: Binance being the creator of BNB, impacts the price significantly. If the exchange gets regulated in new regions, more customers will purchase the coin and raise the price.

Utilization: More and more decentralized apps are using BNB to facilitate trades. PancakeSwap is a prime example of BNB being used by thousands of traders.

Supply and demand: So far, BNB has been in high demand as more people trade BNB through Binance. This raises the value as investors want to cut fee costs to purchase crypto.

Competition: More platforms have begun adding a native token to also reduce fee costs. This means traders may use alternative platforms and tokens, which can negatively impact the price of BNB.

Other Ways to Make Money With Binance Coin in 2023

Below is a rundown of some alternative ways to earn money with BNB.

Stake Binance Coin using DeFi or CeFi

You can stake BNB through the Binance crypto exchange. They provide a comprehensive guide for getting started.

Buy Binance Coin using ETPs (ETFs & ETNs)

You cannot buy BNB using ETPs.

Buy and sell NFTs using BNB

You can sell or buy NFTs using BNB through the Binance NFT platform launched in 2021.

Buy stocks and shares in companies owning Binance Coin

Vertex Ventures Southeast Asia & India and Vertex Ventures China are the most recent investors in Binance that offer stocks. Unfortunately, there isn’t information about other companies to buy BNB that has tradable stock options.

Binance Coin mining

Although you can mine BNB, it’s not worth the effort unless you have a serious amount of equipment. In most cases, you’re better off buying BNB and holding long-term than investing in a mining rig.

Use Binance Coin faucets

Faucets are rewards distributed by exchanges for completing simple tasks. BNBs native platform Binance has a Learn & Earn section that you can do to receive small amounts of cryptocurrency.

What to Consider To Purchase Binance Coin

Like any other crypto, there are certain factors to take into consideration to 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.

What Cryptocurrencies Are Similar to Binance Coin?

Below are some other exchange coins you may be interested in:

Alternatives to Binance Coin

There are many other alternatives to Binance Coin, we have listed some of the most popular below:

Huobi Token (HT)

Like BNB, the Huobi token can be used as a voting share, as a security deposit to sign up as a OTC trader with Huobi, to reduce trading fees, and even as a trading pair for major digital currencies.

KuCoin Shares (KCS)

Compared to Binance and Huobi, KuCoin is a smaller cryptocurrency exchange, even though its trading volume has increased. Due to its approach to small market cap cryptocurrencies, which large exchanges like Binance refused to list in the past, KuCoin attracted the attention of many traders.

The KuCoin token is used to reduce costs, but it is also used for voting and participating in certain events organized by the cryptocurrency exchange, such as IEOs.

Ox Protocol (ZRX)

Compared to Binance and Huobi, KuCoin is a smaller cryptocurrency exchange, even though its trading volume has increased. Due to its approach to small-cap cryptocurrencies, which large exchanges like Binance refused to list in the past, KuCoin attracted the attention of many traders.

The KuCoin token is used to reduce costs, but it is also used for voting and participating in certain events organized by the cryptocurrency exchange, such as IEOs.

Is It Still Worth Investing in Binance Coin or Not?

To summarize, Binance Coin is an excellent investment because of its long-term potential. Although the coin has gained significant value, it has room to grow to new all-time highs as the overall crypto market is in its infancy.

Binance is one of the largest exchanges worldwide, and the token offers a 25% discount when using its services. This gives the coin utility and a reason for people to buy it. Therefore, we can expect the coin to be around for the long term.

FAQs

Find Out More About Smart Contract Tokens