How to buy BNB 2024 Buy BNB in 4 steps

BNB is an integral part of the successful functioning of many of the Binance sub-projects. Before investing in BNB, it is important to understand its history, utility and functionality as part of the BNB Chain ecosystem. BNB can be used to pay transaction fees on the network, and BNB Chain is host to a range of decentralised finance (DeFi) protocols and decentralised applications (dApps). BNB’s unique token burn mechanism helps to differentiate the cryptocurrency from its competitors. BNB, previously known as Binance Coin, is the native cryptocurrency of the Binance platform, one of the world’s largest cryptocurrency exchanges.

When you buy BNB using your Trust Wallet, it’s stored directly in your wallet. There’s no need to transfer your BNB from one address to another or do anything else – the crypto will be stored safely is cryptocurrency property and automatically. Learn how to buy BNB using Trust Wallet with our step-by-step visual guide. Also discover the technological features of BNB, as well as how to buy and sell BNB using Trust Wallet. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

Other important considerations when finding the right exchange are the deposit, trading, and withdrawal fees, account and wallet security, and customer support. EToro is one of the premium options for obtaining BNB for various investors due to the zero deposits on all payment methods. This includes buying BNB with debit/credit cards, PayPal, Skrill and bank transfers. As for transaction costs, the trading fee is set at 1% and a withdrawal fee of $5. The fees are higher than other options on this list, but its ease of use and social network may offset this con. Crypto.com is a well-known crypto app that supports multiple digital assets and several blockchain-based products, including of course the BNB token.

Step 2: Get a Wallet

In 2020, it reached more than $2 trillion in total trading volume, while BNB became the third-largest cryptocurrency by market cap. Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance — Binary Finance, or Binance.

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However, given its variety of use cases and Binance’s reputation, it could be speculated that BNB’s future is pretty bright. The ways of acquiring it range from directly purchasing the asset to trading it with other people. Since it’s the native asset of Binance, it undeniably has more pull and purpose on this particular exchange platform, where you will get more benefits than on any other exchange. 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.

Step 4: Fund your account

Not just that but methods such as using third-party brokers that accept credit and debit cards can be extremely pricey. We are not discouraging or generalizing when we say unofficial sources of BNB are bad places to get the tokens, but we encourage you to research before choosing which platform to use. Binance exchange is currently the leading cryptocurrency trading platform in terms of daily trading volume, and BNB is used to pay for trading fees, among other things, on the platform. This guide takes a deep dive into the world of Binance Coin (BNB), the native digital asset of the world’s leading cryptocurrency exchange Binance. We discuss its history, benefits, uses, how to buy and how to store the coin.

Investing in Ethereum through an ETF is an accessible way for those who want exposure to Ethereum without directly purchasing the cryptocurrency. Easily migrate your funds from an exchange to your hardware wallet through Ledger Live or one of our third party wallet. Therefore, the success of the BNB token depends primarily on the performance of the underlying blockchain platform. Should Binance continue its successful run, the value of BNB is likely to increase. This reduction in trading fees encouraged traders to use BNB rather than other currencies. Since then, it has expanded out of Hong Kong and into international offices located in Malta and the Cayman Islands because of China’s crackdown on cryptocurrency trading.

• There are also other options here, such as receiving or sending BNB.
• Since 2013, Changpeng Zhao has been actively involved with blockchain technology and cryptocurrencies.
• Carefully consider investing in BNB as part of a wider strategy, and talk to a financial advisor if you have any questions.
• The most significant benefit of using Trust Wallet is that it is available to anyone worldwide, even in jurisdictions where Binance is restricted or banned.
• It also plays a crucial role in the broader blockchain and DeFi ecosystems, functioning in various dApps, decentralized exchanges, and blockchain games.
• Once you fill out all the information, proceed with the chosen payment, and you’ll get your newly purchased BNB coins in no time.

After the payment is verified, you will find BNB in your KuCoin account. Once you settle on the order you wish to make, it’s a simple matter of pressing the Buy BNB button. If you want to buy from this person, market indicators and advanced forex trading strategies you should know about type in the amount of BNB you want to buy or the fiat you want to spend. Most sellers have minimum and maximum amount requirements on their transactions, so keep an eye out for that too. After you confirm your purchase, BNB will be readily available in your Binance wallet.

This was a deliberate plan to create artificial urgency for investors to buy the tokens sooner rather than later. We will discuss more on BNB below, whereas BUSD is a stablecoin whose value is pegged to the US dollar currency. While the value of BNB is volatile, BUSD is designed to be as stable as the US Dollar, making it a hedge against price volatility in the crypto market. To learn more about the Binance exchange, be sure to read our comprehensive Binance review.

As a native token for the largest crypto ecosystem, BNB is an extremely sought-after asset that is worth including in a crypto investment portfolio. Follow these simple steps to buy some Binance Coin tokens on Trust Wallet using a credit or debit card. Your newly-linked card will be listed by default on the payment page and preselected. The setup process is simple, provide the royal mail large letter and small parcel dimensions and custom boxes card details, then click on the Next button to add the payment card to your Binance account.