How to Use Binance Smart Chain if You Can’t Use Binance

The new options for customers proved to be a massive success, with BNB actually overtaking Ethereum’s daily transaction volume by up to 1,000% over the following months. With the launch of the Binance Chain in 2019 and the Binance Smart Chain in 2020, the intrinsic value of the Binance Coin changed, leading to an increase in the BNB coin price. BNB became a native asset on two interlinked blockchains, similar to Ether and Ethereum, and must now be spent in every transaction.

EToro, Coinbase and Nexo are three recommended platforms where you can purchase BNB. The instinctual interface makes it simple to monitor and grow your How to buy bnb investment portfolio. Nexo is a solid option for buying and storing Binance Coin as you can earn up to 8% annual interest on your BNB investment.

More cryptos to buy

You can buy BNB directly on many crypto wallets and trading platforms, including eToro, Trust Wallet, or MetaMask. All of these platforms allow you to purchase BNB with fiat currency. This allows for seamless and straightforward transactions and purchases. It also offers stocks, forex, and ETFs (Exchange-Traded Funds), making it an ideal platform for retail investors who want to diversify their portfolios.

The platform’s CopyTrader feature also allows users to copy professional trades. As well as a trading platform, eToro also offers a storage wallet and staking services. Buying BNB with a credit card, debit card or VISA is not enough — you have to find a secure place to store it & protect your BNB from hackers. That’s where the most secure hardware crypto wallets come into play. Centralised exchanges are trading platforms that take custody of your coins on your behalf in the same way a bank may with your money. These often take the form of a regular business and can increase the risk of crypto loss if anything were to happen to the company.

Purchase with BNB

BNB was first sold in the summer of 2017 in an ICO event for about $0.11 per coin. Like most successful cryptoassets, the coin has experienced high volatility and a strong price increase. In the summer of 2020, just 3 years after its launch, BNB was already worth 200 times more (200x). A year later, the coin has jumped another 1,500% (15x), reaching a market capitalization north of $50 billion.

• Should the exchange be hacked, go bankrupt, or be fraudulent, then the BNB might be lost.
• This way, you can avoid bank transfer fees and credit card fees while just paying a low conversion fee on YouHodler.
• The coin powers the platform’s trading ecosystem, is used to pay for its services, and can be converted to other crypto assets.
• Know your customer or KYC standards are also being beefed up in response to growing pressure from financial regulators globally.

If you want to increase the amount of interest you earn by up to 2% you can opt to receive your interest in NEXO. As predicting the market is proving to be a hard task, questions such as “When is the right time to buy BNB? ” should be answered with regard to every user’s understanding of and trust in the technology. As BNB is infinitely divisible, it is possible to purchase just a fraction of the currency. Once your funds arrive, simply go to the Exchange tab inside the Nexo app and swap them for the amount of BNB you want. You can also choose to complete a purchase with Apple Pay or Google Pay.

Create a Wallet and Buy BNB

Purchase Binance Coin in more than 150 countries using the local currency of your bank account. BNB is the official token of the Binance exchange and the Binance Smart Chain. Mt Pelerin Group SA is a company established in Switzerland since 2018, with offices in Neuchâtel and Geneva. We are an affiliated financial intermediary, which means that our processes are regularly audited by an external and independent entity. Join the Every Bit Helps mailing list to receive our newsletter & get access to the latest deals & to our Discord community. To create a Binance account, you will need to provide some personal information to comply with the KYC laws and regulations of the company.

It also supports various blockchain networks, such as Ethereum, Binance Smart Chain, and more. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

eToro — Overall Best Place to Buy Binance Coin

In the trading window, you will see the current price of the BNB coin. Trust Wallet is a multi-coin wallet that is available on both Android and iOS phones. Store your BNB and more altcoins with complete ownership on Trust Wallet. Book flights or hotels, pay for your favorite meal or more with BNB. There is a growing number of charities that accept donations in Binance Coin and cryptocurrency.

• The company claims that the latter option is the most user-friendly and secure mobile wallet on the market.
• By doing so, all the private & public keys on your device are erased to protect your funds.
• In the follow-up screen, click the [Add new card] button to link your card.
• You will find the live BTC to USD chart and more than 200 crypto-to-crypto and crypto-to-fiat markets available for trading.
• If you hold BNB as an investment, you’ll be taxed on any capital gains you make when you sell it — which includes spending it on goods and/or services.

The Binance Exchange aims to reduce market risk and cut out third parties. We aggregate crypto offers from a variety of fiat payment providers so that you can always find the very best one. We take a comprehensive security approach to ensure your crypto investments and identity are safe.