www.banklesstimes.com
HomeCryptocurrency HubBinance CoinHow to Buy Binance Coin in 2022

How to Buy Binance Coin in 2022

Last updated 22nd Sep 2022
Disclosure

Binance Coin (BNB) is a highly successful cryptocurrency that has had an incredible run since its release in 2017 almost increasing 1,500,000% in value. 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 Binance Coin, such as Binance, KuCoin, and FTX.

Best Exchanges to Buy Binance Coin

1
eToro
Minimum Deposit
$10
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
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 - The Overall Best Way to Buy Binance Coin

eToro is one of the largest CFD brokers that offers investment opportunities in BNB. Take a look at the platform’s stats:

💰 Trade Values:CFDs, Cryptocurrencies, Stocks, and Commodities.
📊 Software:Website and smartphone app.
🏆 Demo Account Available:Yes
📺 Ease of use:Excellent
⭐ Our rating:5/5
📱 App Available:iOS and Android
🧩 Regulation:Cyprus Securities and Exchange Commission (CySEC)
💰 Fees:1% of purchase order
🔁 CFDs Available:Yes
⚽ Social Trading:Yes

Best Platforms to Buy and Trade Binance Coin

Besides the obvious one, Binance Coin can be purchased and traded on multiple platforms. Below is a rundown of the best exchanges and brokers for different types of investors and traders.

Buy Binance Coin Using Cryptocurrency Brokers - The Easiest Way

Cryptocurrency brokers are websites that allow clients to invest in various cryptocurrencies through CFDs. This means you will not convey ownership of the bought BNB, apart from Binance. However, these platforms offer easy interfaces for those with less experience with crypto.

ProviderFee (USD 1000)Get Started
🥇 eToro$10Start with eToro now
🥈 Capital.com$10Start with Capital.com now
🥉 Binance$1Start with Binance now

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 perfect 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 asset.

Buy Binance Coin on eToro: Step-By-Step Guide

Step 1: Open eToro
Step 2: Verify your identity
Step 3: Deposit
Step 4: Buy Binance coin
Step 5: Send Binance coin to a wallet

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.

ProviderWallet TypeGet Started
🥇 Ledger Nano XHardwareStart with Ledger now
🥈 Trust WalletSoftwareStart with Trust Wallet now
🥉 ExodusDesktopStart with Exodus now

How to Sell Binance Coin in 2022 Using eToro?

Selling coins like BNB is a smooth process with eToro. Here’s a simple guideline for cashing out your investment:

  • Step 1: Sign in to eToro and head over to the cryptocurrencies tab. Select BNB to open the trading interface.

  • Step 2: At the top of the page, select the sell option and input the amount of BNB to exchange. Review the order and press “Open Trade” to finish.

Buy Binance Coin Using CFDs - Best for Trading

CFDs (Contract for Differences) allow investors to buy cryptocurrencies without owning the underlying asset. 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.

ProviderFee (USD 1000)Get Started
🥇 eToro$10Start with eToro now
🥈 Pepperstone$35Start with Pepperstone now
🥉 Capital.com$10Start with Capital.com now

eToro

The best beginner CFD platform is eToro because of its simple interface for buying Binance Coin. Moreover, it provides learning sections that teach the fundamentals of investing.

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 Binance Coin - Most Convenient

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

ProviderFee (USD 1000)Get Started
🥇 eToro$10Download now
🥈 Binance$1Download now
🥉 KuCoin$1Download now

Buy Binance Coin on eToro App: Step-By-Step Guide

Step 1: Create an account
Step 2: Verification
Step 3: Deposit money
Step 4: Buy BNB

Buy Binance Coin With Exchanges - The Cheapest Way

If you want to buy Binance Coin at low 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.

ProviderFee (USD 1000)Get Started
🥇 Binance$1Start with Binance now
🥈 KuCoin$1Start with KuCoin now
🥉 Crypto.com$4Start with Crypto.com now

Buy Binance Coin on Binance: Step-By-Step Guide

Step 1: Open Binance and register
Step 2: Deposit
Step 3: Open the trading interface
Step 4: Complete the trade
Step 5: Confirm the transaction using the blockchain explorer

Buy Binance Coin Using Decentralized Exchanges (DEX) - The New Way

Decentralized exchanges (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 DEXs for buying BNB.

ProviderFee (USD 1000)Get Started
🥇 UniswapVariesGet started now
🥈 PancakeSwapVariesGet started now
🥉 Defi SwapVariesGet started now

Buy Binance Coin on PancakeSwap: Step-By-Step Guide

Step 1: Open PancakeSwap and connect your wallet
Step 2: Select Cryptocurrencies
Step 3: Finish the exchange

Can You Buy Binance Coin 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:

ProviderFee (USD 1000)Get Started
🥇 Binance P2P$3.50Start with Binance P2P now
🥈 Bisq$8.80Start with Bisq now
🥉 ByBit$10Start with ByBit now

Can You Buy Binance Coin 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.

Cryptocurrency PlatformCan you buy BNB?Fee (USD 1000)Review
BinanceYes$1Binance review
TD AmeritradeNoN/AN/A
BitstampNoN/AN/A
BittrexNoN/AN/A
CoinbaseNoN/AN/A
PoloniexYes$1.55N/A
BitMartYes$2.50N/A
BitrueYes$2N/A
BlockFiNoN/AN/A
CoinDCXYes$2N/A
CoinSwitchNoN/AN/A
Crypto.comYes$4N/A
EtherDeltaYes$3N/A
E*TRADENoN/AN/A
FidelityNoN/AN/A
FTXYes$7N/A
Gate.ioYes$7.50N/A
HotbitYes$2N/A
KrakenNoN/AN/A
KuCoinYes$1N/A
RobinhoodNoN/ARobinhood review
UpholdNoN/AN/A
VenmoNoN/AVenmo review
VoyagerNoN/AN/A
WazirXYes$1.50N/A
WealthsimpleNoN/AN/A
WebullNoN/AN/A

What Is the Difference Between Buying Binance Coin and CFDs?

The main difference between CFDs and buying 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.

Pros

Easier to buy
Market liquidity is not an issue with brokers
No need to set up a crypto wallet for safe storage
Some brokers issuing CFDs allow you to pay with e-wallets such as Skrill and PayPal.

Cons

You do not own the underlying asset
You cannot use CFDs to pay for products or services like you could with real cryptocurrency
You must trust the broker with holding your money short or long term
Higher fee rates compared to cryptocurrency exchanges

Best Ways to Buy Binance Coin

This section will focus on the best methods of buying Binance Coin safely and conveniently.

Buy Binance Coin Instantly With Online Banking - The Fastest Way

The best way to buy BNB is by depositing funds to Binance via bank transfer. However, you will need to verify your account first, and some regions are restricted.

Buy Binance Coin With PayPal - The Safest Way

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

Buy Binance Coin Using a 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 fees for trading.

Buy Binance Coin Using a Credit Card

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 for buying Binance Coin 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.

CountryBest ProviderProvider TypeFee
AustraliaBinanceCentralized Exchange$1
the UKBinanceCentralized Exchange$1
BangladeshBinanceCentralized Exchange$1
CanadaBinanceCentralized Exchange$1
HawaiiCrypto.comCentralized Exchange$4
IndiaBinanceCentralized Exchange$1
JapanBinanceCentralized Exchange$1
NepalBinanceCentralized Exchange$1
New ZealandBinanceCentralized Exchange$1
PakistanBinanceCentralized Exchange$1
PhilippinesBinanceCentralized Exchange$1
SingaporeBinanceCentralized Exchange$1
South AfricaBinanceCentralized Exchange$1
UAEBinanceCentralized Exchange$1

What Are the Fees When Buying Binance Coin?

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

PlatformeToro BrokerPepperstoneBinance Exchange
Deposit fees$0$0$0
Purchase fees$10$35$1
Holding fees$0$0$0
Selling Fees$10$35$1
Payout fees$5$0$15
Total fees$25$70$17

Cheapest Way to Buy BNB

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

ProviderFee (USD 1000)Get Started
🥇 Binance$1Start with Binance now
🥈 KuCoin$1Start with KuCoin now
🥉 Crypto.com$4Start with Crypto.com now

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.

ProviderFee (USD 1000)Get Started
🥇 eToro$10Start with eToro now
🥈 Binance$1Start with Binance now
🥉 Crypto.com$4Start with Crypto.com now

How to Buy Binance Coin Anonymously?

Perhaps anonymity is a requirement when buying 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.

Why should you buy Binance Coin?Why should you sell Binance Coin?
Binance Coin is an established cryptocurrency making it a less risky assetThe coin is highly volatile
It can be used on the Binance exchange to get a 25% discount on feesCoin has reached a significant market cap so you won’t make as much profit holding
Can be used to buy NFTsStaking options provide low returns
Strong performance during bull runsRegulations can affect the trading of BNB
Created by a trusted cryptocurrency brandBNB is limited to the Binance exchange regarding fee cost discounts

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. For example:

  • 10% up to $9,950

  • 12% from $9,951 to $40,525

  • 22% from $40,526 to $86,375

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 Coin performs 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 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.

Historical Binance Coin Course: Major Milestones in the History of Binance Coin

This graph covers how BNB has performed historically. As you’ll notice, whenever a bull run occurs Binance Coin surges in price. This is mainly due to the Binance exchange gaining more daily trading volume and the native cryptocurrency being utilized more.

Current Price Prediction News

Here are some price prediction blogs if you’re interested in the coin’s potential.

Other Ways to Make Money With Binance Coin in 2022

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 buying Binance Coin 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 Cryptocurrencies Are Similar to Binance Coin?

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

CoinSymbolLearn how to buy
KuCoin SharesKCSBuy KCS
0x ProtocolZRXBuy ZRX
Huobi TokenHTBuy HT
FTX TokenFTTBuy FTT
GateTokenGTBuy GT

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

What is the best provider to buy Binance Coin in the US?
What is the cheapest provider to buy Binance Coin in the US?
Is it worth investing in Binance Coin right now?
Is there a limit to how many BNB I can buy?
Can you buy Binance Coin on the blockchain?
What can you buy with Binance Coin?

Dominikas Pupkevicius

Dominikas is a content and research writer with over 6 years of experience. He is passionate about blockchain technology and believes cryptocurrency is the future of humanity. Dominikas lives in the countryside with his 3 dogs and enjoys long walks.