There are several factors that make Binance Coin a good altcoin investment, including its prospects of a robust market performance if the broader economic conditions will allow it. You can learn more about the reasons why Binance Coin is one of the best altcoin investments by checking our selection of top altcoins to buy. When placing a market order, the investor does not specify a price, and the order is executed at the best available price at the time it is placed. Market orders are generally executed quickly, as they are considered a high-priority order type. Market orders are best suited for cryptos that have high trading volumes and high liquidity, where the difference in execution price is likely to be minimal.
We then proceeded to discuss the top reasons why anyone should consider investing in the next crypto to explode. Hardware wallets are the safest type of crypto wallets out there. These refer to hardware devices that have been specially designed to hold and keep your cryptos safe. They, too, give you absolute control and access over your private keys. On the flip side, though, banks charge a relatively high deposit processing fee. They are also bureaucratic, which means that payments take days before reflecting in your account.
The decision of whether or not to buy BNB depends on your individual circumstances and risk tolerance. Trust Wallet is a mobile crypto wallet application available for iOS and Android devices. It is the simplest way to buy BNB without creating an account with any centralized exchange. 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.
Along with BNB, there are 150 other cryptocurrencies available to buy on the platform. Like the other exchanges, Crypto.com supports bank transfers, wire transfers, credit/debit cards, SEPA, Transfer, Wise, PayPal & others. KuCoin is the most popular crypto exchange among altcoin traders and one of the best exchanges overall. In addition to spot markets, the exchange hosts margin and futures markets, its own NFT marketplace, as well as its own lending and staking solutions. KuCoin is also known for low fees, amounting to 0.1% for both makers and takers. It supports trading of Binance Coin in 4 pairs, with USDT, BTC and USDC being the most traded ones by volume.
With this information, you’ll be armed with the knowledge and confidence required to start investing in Binance Coin. Crypto.com also makes it here because it is both a beginner-friendly exchange and a top choice for active traders. Beginners enjoy the many educational resources hosted on the platform.
Where can I get Binance coins besides Binance exchange?
Explore the benefits of our higher tiers and unlock a world of exclusive learning opportunities. The original total supply of BNB was 200 million tokens, but that total has been reduced with the current target BNB supply being 100 million tokens. Learn more about BNB Chain and other cryptoassets on the eToro Academy. Before investing in BNB, it is important to understand its history, utility and functionality as part of the BNB Chain ecosystem.
This is typically done by sending some tokens to an unspendable “burn” address, making the removal permanent. This process is often used as a deflationary tool to create scarcity. While it’s typically recognised in the context of the Binance platform, BNB has unique aspects that could make it a valuable investment, independent of the exchange. Investors also demonstrate interest in BNB’s tokenomics, especially the burn mechanism, which makes it deflationary in nature. BNB, previously known as Binance Coin, powers the BNB Chain ecosystem and is one of the world’s most popular utility tokens.
How to sell Binance Coin
In this guide, you will learn how to use BNB, why it’s a popular asset amongst blockchain investors, and discover a step-by-step guide to buying it. Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Centralised exchanges (CEXs) and decentralised exchanges (DEXs) are two options for buying BNB. The former will allow investors to buy BNB and other cryptoassets using fiat currencies.
Having a personal wallet gives you control over your private keys, which is essential for protecting your assets. Hedge With Crypto aims to publish information that is factual, accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Whether BNB is cheaper than Ethereum depends on the coins’ cost and the fees incurred from the transactions on the relative blockchain.
How much do I need to start buying Binance coins today?
One of the most important rules each investor should follow is to never invest beyond their means. This is doubly true in crypto, as the market can be very volatile and it is not uncommon for digital assets to go on massive price swings. The crypto exchange will determine the minimum needed to buy Binance coin or any other crypto. You, on the other hand, get to set the maximum investment amount. We advise that this decision be informed by such factors as your risk tolerance, trading skills, investing strategy, and investing skills. Follow the step-by-step guide for buying cryptos on eToro that we have outlined above.
In some cases, limit orders can lead to missed investment opportunities, especially if the limit is poorly defined by the investor. The private keys for the BNB coins you just purchased will be deposited into the exchange-provided wallet. Note, however, that this eToro wallet cannot receive or send crypto funds out of the eToro brokerage. To move the funds to a third-party wallet or exchange, you first need to set up the eToro wallet app – eToro Money.
Step 5 – Confirm the transaction.
Use our table to look for a platform that offers credit card deposits to get started. Some popular platforms for buying Binance Coin include KuCoin, Binance, CoinEx, Kraken, OKX, Bybit, Gate, and MEXC. It’s important to do research and compare fees, security features, and supported currencies before choosing an exchange, as there are considerable differences between each one.
How to Buy Binance Coin (BNB) – Step-by-Step Guide
Our analysts have, however, vetted tens of reputable platforms and settled on the following as the best cryptocurreny trading platforms for BNB investing. Bitcoin is a decentralized digital currency designed to function as a store of value and a medium of exchange, operating on its blockchain. BNB, on the other hand, is a utility token created by the Binance exchange to offer benefits such as reduced trading fees and access to various features within the Binance ecosystem. EToro is a popular trading platform that allows users to buy and sell various cryptocurrencies such as BNB, BTC and ETH. With over 30,000,000 users worldwide, eToro is a popular option for investing in BNB and other cryptoassets. On the other hand, DEXs are decentralised alternatives — they allow investors to buy, sell or swap a range of cryptocurrencies, including BNB, between users directly.
Decentralised exchanges are usually slightly less beginner-friendly than centralised exchanges, and it is rarely possible to swap fiat currency for BNB. Wajeeh Khan is a financial researcher and writer with 7 years of experience. Since 2016, Khan has worked with notable online platforms within financial journalism, including Invezz, Trading-Education, Dog of Wall Street, and News Break. All in all, he has written, editted, and published deposit money stake casino over 7,000 articles, guides, and market insight. But in only two years, it had already become another niche that he started actively researching.
- The best indicator for this is the fact that it has been overthrown as the fourth most valuable crypto asset by Solana.
- In November 2023, the crypto sector was shaken up by some major news — Changpeng Zhao (CZ) stepped down from his CEO role at Binance.
- In order to increase withdrawal limits and unlock additional functionality like crypto loans and staking options, certain exchanges require users to complete KYC as well.
- Steven’s passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field.
- He’s also completed a bunch of courses on digital journalism and financial markets at large.
- Start by downloading eToro money from the App Store or Play Store.
Keep your MetaMask and any other wallet software updated to protect against vulnerabilities. Software updates often include security patches and enhancements that safeguard your wallet from potential threats. Regular updates ensure that you benefit from the latest security features and improvements.
- However, the customer service support on the platform can be poor and users have experienced slow and unsatisfied responses as discovered in our full review on Crypto.com Exchange.
- We offer localized payment options that cater to regions all over the world.
- BNB, previously known as Binance Coin, is the native cryptocurrency of the Binance platform, one of the world’s largest cryptocurrency exchanges.
- On the other hand, DEXs are decentralised alternatives — they allow investors to buy, sell or swap a range of cryptocurrencies, including BNB, between users directly.
- Like all other coins, and in obedience to a crashing market, BNB price corrected downwards and dipped below $5 in December 2022.
- By May, however, the altcoin had rallied by more than 2000% to set the current ATH of $690.
Make sure you select the payment method that best fits your requirements, and double-check the preview on YouHodler before finalizing your purchase. If you want to buy Binance Coin, you can do so via a one-time purchase, or through a recurring buy order. Recurring crypto purchases allow you to gain BNB price exposure over time, helping to limit the risk of volatility through dollar-cost averaging principles. Buy Binance Coin (BNB) in 100+ countries using the local currency of your bank account. We offer localized payment options that cater to regions all over the world.
To buy BNB on Binance, create a Binance account, then navigate to the platform’s instant buy or spot market section to make your purchase or convert another crypto to BNB. Remember that owning and using Binance Coin is not without its risks. Carefully consider investing in BNB as part of a wider strategy, and talk to a financial advisor if you have any questions.