In page navigation
- 1. How & where to buy Binance coin (BNB) online
- 2. How to buy Binance coin instantly in 3 simple steps
- 3. Where to buy BNB easily
- 4. Best exchanges to buy Binance coin (BNB), reviewed
- 5. How to trade BNB
- 6. What is the best way to pay for Binance coin (BNB)?
- 7. How do I store Binance coin (BNB)?
- 8. Is Binance coin (BNB) a good investment?
- 9. Is now a good time to buy Binance coin?
- 10. FAQs
How & where to buy Binance coin (BNB) online
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
Binance coin tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Binance coin this way. Follow our quick step guide below.
How to buy Binance coin instantly in 3 simple steps
Copy link to sectionTo buy Binance coin you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.
Step 1. Sign up to eToro
Copy link to sectioneToro is the simplest crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification.
77% of retail CFD accounts lose money.
Step 2. Make a deposit
Copy link to sectionAdd funds via a card payment, bank transfer or an alternative payment method. You can start with as little as £10.
Step 3. Buy Binance coin token
Copy link to sectionType BNB into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.
Now you own Binance coin tokens! It’s as simple as that.
Where to buy BNB easily
Copy link to sectionThe overall best exchange to buy Binance coin token for beginners is eToro .
Here are the top five places to buy Binance coin, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
77% of retail CFD accounts lose money.
Read more about how we rate, rank and review platforms.
Best exchanges to buy Binance coin (BNB), reviewed
Copy link to section1. eToro. Best for beginners, copy-trading & demo-account
1500
No. assets
$10
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. KuCoin. Best social trading altcoin exchange
1
No. assets
...
Minimum deposit
Crypto
Platform type
Pros & Cons
Overview
We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.
KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
How to trade BNB
Copy link to sectionYou can trade BNB on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how BNB crypto trading works:
- Monitor the price: Let’s say the price of BNB/USDT is $1. You read the price charts and decide that now is a good time to start purchasing BNB.
- Open a trade: You trade one USDT for one BNB ($1 for 1 BNB).
- Continue to monitor the price: The next day, one BNB token is now worth $2, a 100% increase.
- Close your trade: You trade your BNB token back to USDT for $2.
In this example, you buy and sell Binance coin, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.
77% of retail CFD accounts lose money.
What is the best way to pay for Binance coin (BNB)?
Copy link to sectionThe simplest way to buy Binance coin cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for BNB.
- Buy Binance coin with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
- Buy Binance coin with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
- Buy Binance coin with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
- Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.
How do I store Binance coin (BNB)?
Copy link to sectionMost people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Binance coin then you should move it to a crypto wallet.
A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Binance coin wallets to use are MetaMask and the Ledger Nano S.
Is Binance coin (BNB) a good investment?
Copy link to sectionWhether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Binance coin and its token to help you decide whether to invest in BNB.
- Binance coin is one of the world’s largest cryptocurrencies. Binance coin is ranked in the top five largest cryptos in the world. With a market cap of approximately $50 billion, it’s just behind Bitcoin, Ethereum, and Tether. It also has an average daily trading volume in the billions of dollars, meaning liquidity issues are almost non-existent, unlike many smaller coins.
- BNB has lots of uses within the Binance ecosystem. BNB was created to reduce trading fees on the Binance exchange. While that is still the case, its utility has expanded and can be used across the whole Binance ecosystem. It is integral to many functions of the Binance smart chain and wallets.
- As time goes on, fewer BNB tokens will be available. Binance uses a process known as burning, which permanently destroys some of its coins. Every quarter it uses 20% of its profits to repurchase BNB tokens and destroys them. This makes it a deflationary coin, as, in the future, fewer coins will be available, which will increase its scarcity and, ultimately, value.
- BNB coins have real world use. You can use Binance coins to purchase real world products or services. It is possible to use BNB to make credit card payments, pay for travel arrangements, donate to charity, and many more. In addition, BNB can be used to secure decentralised loans and other defi services.
- You can use BNB for discounted fees on the Binance platform. You can use BNB to benefit from trading fee discounts when using the Binance exchange. However, this is only for the first five years of using the platform, as the discount is reduced every year.
Use this quick summary of pros and cons to compare Binance coin with other, similar projects.
Pros
Copy link to section- It can be used to access cheaper fees on Binance
- Frequent coin ‘burns’ to reduce supply may increase value
- BNB has real world utility
- One of the largest cryptos by market cap
Cons
Copy link to sectionUltimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.
How has Binance coin (BNB) performed this year?
Copy link to sectionThe current Binance coin price today is $286.72, which is 59% below its all time high of $704.60, which it reached in May 2022. BNB is down 42% this year, with a 52 week high of $506 and a 52 week low of $183.4.
Is now a good time to buy Binance coin?
Copy link to sectionThe answer depends on the current price and your own investment goals. Put simply, buying Binance coin, selling Binance coin, and trading BNB are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.
- If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Binance coin.
- As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of BNB, then a good time to purchase Binance coin is on any major dip.
In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Binance coin and selling it the next day probably isn’t why you’re here either.
Regardless, closely following BNB price news & analysis will help you decide when to pull the trigger:
Binance coin (BNB) signals buy opportunity against USDT
Cardano nears a depression phase as ADA price hits 2023 lows
BNB price is at risk as Binance Chain DeFi TVL hits 2021 lows
FAQs
Copy link to sectionMore altcoins to buy
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >