Enter the amount, then tap on the [Continue] button, where you will be redirected to the partner webpage to process the payment. On this screen, there are two [Buy] buttons you can use to purchase BNB. One at the top and one towards the lower section of the screen. The second button will not be shown if you already have some BNB in your wallet. If you wish to set this feature up, start by enabling the toggle button. Once you select the corresponding assets, fill in the amount you want to transact.
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Your newly-linked card will be listed by default on the payment page and preselected. Click on the [Continue] button to proceed to the confirmation page. The confirmation page also highlights the cost of the transaction. The content published on new to bitcoin read this first 2020 this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
This guide was all about BNB and how to acquire this highly versatile asset. We highlighted two easy ways to buy it, which are using the Binance exchange or using a mobile wallet such bitcoin faq frequently asked questions 2021 as Trust Wallet. Before we continue, it’s worth noting that Trust Wallet lists both versions of BNB here with different titles to differentiate them. The token named BNB is the BEP-2 version on the Binance Chain (BC) network while the other one named Smart Chain is the BEP-20 token on the BSC network. Trust Wallet is a mobile crypto wallet application available for iOS and Android devices.
So, if you’re looking to dive into the world of digital finance, BNB might just be your ticket to ride. Holding BNB isn’t just about passive investment; it’s about having a say in the future direction of the Binance ecosystem. By staking your BNB tokens, you can participate in decentralized governance decisions, such as proposing and voting on network upgrades and changes. It’s like being part of a digital democracy, where every voice counts. You can also use this to convert any crypto asset you have for BNB. After you confirm your purchase, BNB will be readily available in your Binance wallet.
Utility of BNB Tokens
Cryptocurrencies can be volatile, with steep price increases and decreases. Set an investing budget for yourself and only risk money you don’t need for essential expenses. Due to integration within the platform itself, there are more ways to buy BNB on Binance compared to other exchanges, so you should be able to get your hands on the coin without much trouble. The ways of acquiring it range from directly purchasing the asset to trading it with other people. For instance, you can use BNB to book flights, hotels, and other travel products on platforms like Travala.com via Binance Pay.
- The confirmation page also highlights the cost of the transaction.
- You can try switching between different options to see how the fees (and the amount of crypto) change depending on the option.
- If, however, you’re still not 100% certain, let’s quickly run down through some of the most prominent features of the platform.
- To finish off our guide on how to buy on Binance, it’s worth mentioning one, final thing – the P2P services that Binance provides.
Purchasing the coins from the platform, you’ll encounter yet another major benefit of Binance – it can be done with a credit-debit card. With many other crypto exchanges out there, you’ll struggle to find such features – the closest you might get are bank transfers, but even those are less-conveniant than paying with a card. Once you’ve logged into the site, navigate to the upper-right corner of your screen. There, find the “Buy Crypto” button, and place your mouse over it.
Feel free to contact us if you believe that content is outdated, incomplete, or questionable. Here, Binance acts as an escrow service – this way, you can be sure that the trades are going to be legitimate, and that you won’t get scammed out of all of your money. From the homepage of the website (or your dashboard, if you’re logged in), navigate to the upper part of the window, and hover over the “Trade” button. Kat has expertise in insurance and student loans, and she holds certifications in student loan and financial education counseling.
How to Buy on Binance: Two Alternative Methods
Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.
Having said that, to this day, it is the most popular coin that people buy and trade on Binance. You can choose the “Limit”, “Market”, or “Stop-limit” trading options. “Limit” and “Stop-limit” may prove to be a bit complex if you’re just starting to figure out how to buy on Binance – instead, point your attention to the “Market” tab.
So far, the exchange has undertaken 16 coin burns resulting in the removal of 31,862,964 BNB tokens from circulation. The fewer coins there are in circulation, the higher their perceived value, which will increase their demand and consequently their price. All tokens that were held or stored on the platform were automatically swapped. The first one is to control prices after the token sale period. Due to a large number of sell orders, the market becomes saturated, leading to a massive fall in price. We will discuss more on BNB below, whereas BUSD is a stablecoin whose value is pegged to the US dollar currency.
Is Binance Coin a Good Investment?
Still, it can prove to be quite profitable – that’s why it’s an important factor to keep in mind when trying to learn how to buy on Binance. With the “Market” option, you’ll be able to purchase BTC at the exact price that it holds at that point in time. This allows you to avoid all of the hassle and complex calculations, if you so wish to. Binance.US users also receive a 25% discount on trading costs when using BNB to pay fees.
You will also have to verify your identity before proceeding with the follow-up steps (see our detailed Binance KYC guide). BNB is easily accessible for anyone with a Binance or Binance.US account. Binance.US is the Us-based Binance affiliate regulated by the US Financial Crimes Enforcement Network (FinCEN). As a platform token, it only makes sense that the best place to acquire it is on its native platform, Binance, and affiliated entities. Naturally, this requires a lot of market analysis, and you’ll have to constantly be on the look-out for some price fluctuations, crypto news, major changes, and so on.
And if you’re into e-commerce, some merchants accept BNB as payment, giving you more options to shop with crypto. You can even use BNB for hedging, and not only in the crypto market[2]. Therefore, no tutorial on how to buy BNB would be complete without mentioning is neo price going up or down here’s my price prediction for january a few alternatives to Binance. Keep in mind that different exchanges might have different fees attached to transactions, so be sure to look over details carefully to avoid surprises.
Initially issued as an ERC-20 token on the popular Ethereum network, BNB is now a BEP-2 and BEP-20 token issued on the Binance Chain (BC) and Binance Smart Chain (BSC) networks, respectively. In the next screen, Trust Wallet will prompt you to input the amount of BNB tokens you wish to purchase denominated in your preferred fiat currency. Trust Wallet is a fully-owned independent subsidiary of Binance exchange. This might explain why they list a competing platform’s native token. Yes, you can purchase Bitcoin on Binance, as well as trade over 150 other cryptos and altcoins. Binance supports a wide variety of cryptocurrencies, and Bitcoin is just one of them.
Well, one of BNB’s primary uses is paying transaction fees on the Binance exchange. Whether you’re buying, selling, or trading cryptocurrencies, using BNB to cover those fees can save you a bundle in the long run. When considering how to buy BNB with your preferred currency, you will be presented with a list of available payment options.