Where to Buy Binance Coin
More than 100+ brokers and exchanges support Binance Coin, making it a popular digital currency.
To find the best place to buy BNB today, read the following reviews.
1. eToro – Overall Best Place to Buy Binance Coin for 2022
eToro is a popular online broker and trading platform that is home to thousands of assets across stocks, ETFs, forex, hard metals, energies, and of course – cryptocurrencies like Binance Coin. eToro has something for everyone and is a great place to invest no matter your experience level. Opening an account with eToro only takes a few minutes and your funds will be safe. This means that eToro is a reliable and trustworthy platform. eToro is authorized and licensed by several tier-one regulators, so it is a reliable and trustworthy platform.
This exchange charges some of the lowest Fees for GBP deposits in the cryptocurrency market. The deposit fee covers all methods of depositing and withdrawing money, such as PayPal, Skrill, debit/credit cards, bank transfers, and more. Other than the latter, all other payments types are processed immediately. Binance Coin can be purchased through eToro by paying only the spread.
With this cryptocurrency service, orders start at just 0.75%. 50. With both deposits and cryptocurrency investments, you can start with as little as $10, which is about £7.50. This means that by investing a small amount of money, you could own a variety of different digital tokens. Investors can buy and sell stocks and ETFs with no commission fee. The eToro website allows you to copy experienced traders.
It’s important to note that eToro offers support for 50 cryptocurrencies and is always expanding its offerings by adding new cryptocurrencies. This allows users to trade cryptocurrencies with low fees and a secure platform. This system includes Solana, Dogecoin, Shiba Inu, Polkadot, XRP, Axie Infinity, and more.
For example, if you choose to copy a top-rated crypto trader who uses eToro. This means your share of the £1,500 capital is £150 If you invest £1,000 with a chosen trader, they will risk 15% of their £1,500 capital on a Binance Coin buy order, meaning your share of the capital would be £150. In exchange for completing the task, you will be given £150 worth of Binance Coin. eToro also offers dozens of Smart Portfolios, which are managed on your behalf. There are a few popular strategies that people use which are crypto, energy, growth stocks, and dividend shares.
2. Crypto.com – User-Friendly App to Buy Binance Coin
Crypto.com is a mobile app that allows you to easily buy BNB and other cryptos. This crypto exchange is one of the fastest growing and best in the world, and allows you to buy other 150 different cryptocurrencies at competitive fees of just 0.4% per trade.
This crypto exchange has some features that help it stand out from other exchanges. For example, you can reduce fees by 10% if you pay them in the platform’s native token, CRO. CRO tokens are available for purchase on a number of exchanges, and they can be used to pay for goods and services on the platform. Get a Crypto.com VISA card to get cash back in CRO.
We also like that you can complete ‘Missions’ on the Crypto.com app and get rewarded in Diamonds. These Diamonds can be exchanged for Mystery Boxes containing various amounts of CRO. The service offers loans without a credit check when crypto deposits are made.
3. Binance – Buy BNB Directly From Binance
Binance Coin is a cryptocurrency that is backed by the Binance exchange. This platform is popular and allows you to buy Binance Coin with no problems. If you want to invest using your debit or credit card, you may have to pay fees of up to 10%. Binance can no longer accept card payments because it is not legally allowed to.
If you’re familiar with Binance, you know that it’s a leading crypto exchange that also provides access to its NFT marketplace. If you want to buy NFTs, you’ll need to buy Ethereum first. Binance allows you to do this easily. To buy ETH tokens on the crypto exchange, go to the Express P2P section and enter how many you want to buy. Then click on ‘Buy’. Don’t worry, your crypto is in good hands. Binance P2P will take care of it while it waits to be matched with another user.
Instead of processing payments itself, the exchange has partnered with several third parties. Previously, Binance allowed free fund transfer from a bank account via Faster Payments. However, this is also since been suspended. The other option available to you is to deposit cryptocurrency into your Binance account. Paying with cryptocurrency instead of a debit or credit card will save you money, since you only have to pay the blockchain fee.
What is Binance Coin?
Binance Coin is a digital asset that is used to transact on the Binance Exchange. The coin is used to pay for transaction fees and can also be used to receive discounts on those fees. The Binance token was launched in 2017 to allow users of Binance to benefit from reduced trading commissions. By holding a minimum amount of Binance Coin, you were offered a 50% reduction in commissions.
This has been reduced to 25% In other words, Binance Coin can now be used for a lot more than just trading on the Binance exchange. You can do everything from buying goods with the Binance Pay platform to booking flights on Travala and providing liquidity to earning interest from staking rewards.
The BNB token is most commonly used as the primary currency for both the Binance Chain and the Binance Smart Chain. Thousands of cryptocurrencies and billions of dollars in trading volume are now supported by these two independent blockchain networks. Binance Coin gives the token real-world value by allowing transaction fees to be paid with the coin.
Is Binance Coin a Good Investment?
Do some research to figure out if Binance Coin is a good investment for you.
We discuss some of the main reasons to buy Binance Coin and some of the risks to consider.
Top-Performing Cryptocurrency
Binance Coin is one of the best-performing assets in the world. If you had purchased a Binance Coin when it first became available on public exchanges in 2017, you would have only paid $0.11 for it.
If someone had invested $1,000 into Binance back in 2017, they would have received over 9,000 BNB. Binance Coin has experienced significant growth since it was first created, reaching a high of $690 per token in 2021. Between its launch in 2017 and peak in 2021, Binance coin increased by over 620,000%.
If you had invested $1,000 in the example above, you would have received 9,000 tokens. These tokens would have been worth over $6 million. Not bad for just under four years of trading. Binance Coin has done better than many other cryptocurrencies that have a lot of money invested in them over the last year.
This is an example of how much value Binance Coin has increased by in the past year. While Ethereum has seen significant growth over the past month, Bitcoin has only seen a small increase. In the past year, Cardano has grown by 84%.
Binance Smart Chain
This Binance-backed network allows for the creation and execution of smart contracts, and also supports a variety of decentralized applications. Binance created its own blockchain network, Binance Smart Chain, which supports smart contracts and decentralized applications. This network is the most popular place for new cryptocurrency tokens to enter the market.
- As noted earlier, the Binance Smart Chain facilitates billions of dollars worth of trading volume each and every day, across thousands of tokens.
- Crucially, when users buy or sell crypto assets via the Binance Smart Chain, transaction fees are charged in BNB.
- And as such, this creates ongoing demand for the token, as people must buy Binance Coin in order to access the chain.
The continuing demand and high volume on the Binance Smart Chain is great news for investors in BNB.
Burning Program
Another reason to consider buying Binance Coin is that the exchange has an ongoing burning program, which it started in 2017.
- In a nutshell, when you burn a number of cryptocurrency tokens, this means that the digital assets are sent to a dead wallet that cannot be retrieved.
- Therefore, the respective tokens are no longer in circulation, and thus – the overall supply of the cryptocurrency is reduced.
- This is not too dissimilar to a share buyback program executed by traditional companies.
So far, Binance has destroyed over 100 million BNB tokens. At today’s value, this represents more than $420 million.
Binance Ecosystem
However, there are a few more unique benefits to using Binance Coin. The following are a few more benefits to using Binance Coin: -Binance Coin can be used to pay for goods and services. -Binance Coin’s Smart Chain network can be used to reduce exchange commissions. -Binance Coin can also be used to pay for goods and services.
The Binance ecosystem is much larger than any other cryptocurrency space and is constantly innovating into new areas.
For example, you can now deposit digital tokens with Binance and receive interest on them. With the Binance debit card, you can spend your cryptocurrency online, in stores, and at ATMs.
BNB sits at the heart of the Binance ecosystem, which gives it real-world value.
Compare the best cryptocurrency exchanges for trading bitcoin and other assets
Coinbase (jump to Coinbase details »)
This exchange is notable for the sheer range of cryptocurrencies it offers. In addition to the most popular coins like bitcoin, ethereum, and litecoin, Coinbase also supports a number of lesser-known altcoins like dogecoin and ripple. The exchange offers multiple investment options for individual and institutional clients. The app has staking rewards, mobile apps for iOS and Android, and an option to earn crypto assets by watching educational videos.
Coinbase also offers Coinbase Pro for advanced traders and Coinbase Prime for institutions and high-net-worth clients. Coinbase Pro users have access to features like secure bots for trading, charting tools, and real-time order books.
In addition to the Prime cryptocurrency trading platform, institutional clients can utilize commerce services, cold storage (offline storage for crypto assets), and an Asset Hub that allows issuers to list and grow their products on the platform.
Additionally, Coinbase has started testing its NFT trading platform. It’s offering no transaction fees for creators and collectors who use the platform for a limited time. NFT platforms typically charge a 2.5% fee per transaction. Coinbase’s fees are much lower than this, making it a very competitive option (you can read more about its NFT platform here).
Read our Coinbase review to learn more.
If you margintrade on a regular basis, Coinbase might not be the best platform for you. This exchange does not allow you to borrow money to trade cryptocurrency assets, nor does it offer futures contracts.
Abra (jump to Abra details »)
Why it stands out: Abra is a global crypto exchange serving individual and institutional traders in more than 150 countries. The Abra exchange is notable for its lack of trading fees, its wide selection of cryptocurrencies, and its diverse range of features.
This platform provides several services including trading for 80 cryptocurrencies, interest accounts that offer up to 10% return on eligible assets, crypto-backed loans, over-the-counter (OTC) trading, and multiple educational guides for beginners. Its over-the-counter services also give institutional clients access to interest-earning accounts, loans, and one-on-one account support.
In addition to earning 3% cash back on CPRX token trades, Abra also offers 0% interest loans.
Abra is available on iOS and Android phones.
Read our Abra review for more info.
Visa and Mastercard charge higher fees for transactions.
Kraken (jump to Kraken details »)
This is notable because it offers a wider selection of cryptocurrencies than most of its competitors, which is especially appealing to investors who want to diversify their portfolios. This is because Kraken is available in nearly 50 countries, whereas Binance.US is only available in 42 states. The exchange currently supports traders in nearly 200 countries.
Kraken also offers margin trading and futures trading. You can trade crypto assets with up to five times your account balance by borrowing from margin accounts. Futures contracts for cryptocurrencies including bitcoin, ethereum, litecoin, bitcoin cash, and ripple are available for trading.
The exchange also offers its own futures trading platforms. Institutional clients can get help from experts, have consultations, and get account management support.
All clients can use Kraken’s staking rewards, iOS and Android mobile apps, and educational resources.
Check out our Kraken review to learn more.
If you are a US trader, you cannot currently use Kraken’s futures mobile platform. The exchange’s consultation and account management services are only available to institutional and high-net-worth clients.
CEX.IO (jump to CEX.IO details »)
What makes it stand out is that it is based in London and supports traders in more than 99% of countries worldwide, including 48 US states, according to its website. The exchange also allows you to trade bitcoin and more than 100 other digital assets.
CEX.IO offers instant credit and debit card purchase features, mobile app support, staking rewards, and crypto-backed loans to all users. CEX.IO’s advanced features like spot trading and margin trading might be more appealing to experienced traders. Organizations can take advantage of the aggregator and payment management services.
It’s also important to point out CEX.IO’s fee schedule. The higher your trading volume, the lower the fees you’ll pay. The exchange’s maker/taker schedule is based on your 30-day trading volume, so the higher your trading volume, the lower the fees you’ll pay. According to CEX.IO, maker orders cannot be executed immediately because there are no other orders to match them. However, taker orders are executed immediately.
The fees for making a trade on this platform range from 0.00-0.15%, and the fees for taking a trade span from 0.01-0.25%. The CEX.IO app provides a seamless mobile experience. The CEX.IO app is also available on iOS and Android devices for a seamless mobile experience.
You’ll find more details in our review of CEX.IO.
Transactions using debit or credit cards can be expensive at CEX.IO. If you want to make a deposit using a Visa or Mastercard, you will have to pay a 2.99% fee. This fee is only 1.49% for GBP deposits made with cards issued in the UK. For US residents, there is a service charge of up to 3% and an additional fee of $1.20 for using a Visa card. There is also a commission of up to $3.80. Mastercard users can expect a service charge of up to 1.8% plus an additional $1.20. There’s also a commission up to 1.2% plus $3.80.
Gemini (jump to Gemini details »)
What makes Gemini different is their range of crypto trading services for both individuals and institutions. Traders can use multiple platforms to their advantage, including the Gemini web exchange, Gemini iOS and Android mobile apps, Gemini Active Trader platform, Gemini Fund Solutions, and institutional trading tools.
Aside from Gemini Wallet, Earn, and Clearing, the exchange also offers brokerage services for off-exchange crypto trades between parties (Gemini Custody), as well as Gemini Pay and Gemini Dollar (a digital asset backed by US dollars).
Gemini offers two storage and custody options for your crypto assets: Gemini Wallet for online storage, and Gemini Custody for offline storage. Gemini also offers $200 million in cold storage insurance coverage.
You can choose to receive interest on your crypto balance with Gemini Earn, or use your assets for purchases at over 30,000 retail facilities across the US with Gemini Pay.
Easy to Buy and Sell
There are over 17,000 cryptocurrencies listed on CoinMarketCap, many of which have small market capitalizations. To enter and exit the market is not always easy.
This could be because there are very few exchanges that list the token, or because there simply isn’t enough demand in the market to provide sufficient levels of liquidity. This can be problematic when you try to sell your investment.
Binance Coin is one of the largest cryptocurrencies in terms of valuation. At the time of writing, the project is valued at nearly $70 billion and is traded on over 100 exchanges.
This text is saying that Binance Coin can be bought easily and cheaply. It’s important to be able to convert your investment back to cash if needed, and Binance Coin makes this easy to do.
Native coins of FTX exchange, such as FTT, have the same utility as other similarly strong performing assets. See our guide to buying FTX token.
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