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    Where & How To Buy Binance Coin (BNB) In 2022

    Updated: Nov 22nd, 2022
    Kevin Groves
    Kevin Groves
    Where & How To Buy Binance Coin (BNB) In 2022

    Binance Coin (BNB) is the native cryptocurrency powering the Binance exchange. The cryptocurrency is the fourth largest by market cap at the time of writing. For investors that are curious about how to buy Binance Coin, this guide provides a full tutorial on how to purchase BNB tokens. We also explore the top places to buy Binance Coin based on important factors such as ease of use, trading fees, security and more.

    How To Buy BNB Coin - Quick Guide

    The easiest and safest way to purchase Binance coin is using a centralized crypto exchange and by following these steps:

    1. Compare and select a crypto exchange. Find and compare cryptocurrency exchanges that are available within the specific country and support the fiat currency that is to be converted into BNB tokens.
    2. Register an account. Create an account with a crypto exchange using a valid email address or mobile number.
    3. Complete ID verification. Before making a deposit in fiat currency, exchanges have a mandatory Know Your Customer (KYC) process that will need to be completed.
    4. Deposit funds to a wallet. Choose a payment option such a bank transfer, wire transfer, debit card, credit card and PayPal if buying with fiat currency. Or deposit crypto (e.g. USDC, USDT or BUSD) which can be converted into BNB tokens.
    5. Buy BNB. Browse the supported assets and choose BNB. Use the funded account to choose an amount to spend. Finalize the transaction by clicking on 'Buy'. The amount of Binance coin will be determined at the selected price and transferred to the user's BNB wallet.

    Where to Buy BNB?

    Wondering what the top platforms to buy Binance Coin are? Not all trading platforms support BNB tokens such as Coinbase. This section reviews some of the top cryptocurrency exchanges that allow investors to buy BNB:

    Exchange PooCrypto AssetsTrading FeesRatingPromotionWebsiteReview
    600+
    0.1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.8/5
    StarStarStarStarEmpty Star
    Up to $100 welcome bonus
    Visit BinanceBinance Review
    195
    0.16% / 0.26%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.7/5
    StarStarStarStarEmpty Star
    None available at this time
    Visit KrakenKraken Review
    70+
    1%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.6/5
    StarStarStarStarEmpty Star
    None available at this time
    Visit eToro

    eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."

    eToro Review
    300+
    0.25%
    RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
    4.1/5
    StarStarStarStarEmpty Star
    None available at this time
    Visit BittrexBittrex Review

    Best Places To Buy BNB: 2022 Reviews

    1. Binance/Binance.US - Overall Best Place to Buy BNB

    Binance is our top pick for where investors can buy Binance Coin (BNB). Binance has shot through the digital asset trading rank and is currently the world’s top Bitcoin exchange by trading volume. The platform launched BNB in an initial coin offering in 2017, and the token has remained native to the Binance smart chain ever since.

    Crypto investors can buy BNB using fiat currency as Binance is one of the best fiat to crypto exchanges around. The exchange offers payment methods, including bank transfers, debit cards and e-wallet solutions. The minimum deposit to buy BNB is $10. Moreover, existing crypto holders can fund an account with Bitcoin or other altcoins absolutely free. Binance also doubles as a safe P2P crypto exchange in the market that opens the doors to more payment methods to acquire BNB tokens.

    Buying BNB on BinanceBuying BNB on Binance

    The platform charges a fee of 0.1% or less per trade (based on the maker/taker model), for transactions made without BNB coins. For frequent traders, there is the option for a 25% discount by staking BNB tokens or increased trading volume which is great value-for-money and one of the cheapest ways to buy BNB. There is even a Binance referral code to obtain a $50 welcome bonus for creating a new account.

    Due to some regulatory constraints, Binance is not available in the US. Investors in the US will have to use Binance.US, a separate platform exclusive to the US market. Overall, Binance is an excellent choice for buying BNB. But if you’re a US resident, the options to purchase other coins are relatively limited when compared to the international Binance website. For more information, read our detailed Binance review.

    2. FTX/FTX.US - Best Alternative to Binance for Buying BNB

    FTX was founded in 2019 and has over 300 cryptocurrencies available to trade on its platform. However, the options for US residents are quite limited, where users only have upwards of 20 options further to our FTX review. Traders can buy BNB immediately once their account is funded. The exchange offers numerous trading pairs, including the BNB/USD trading pairs. Although, BNB isn't included in the 'Convert' feature, so users will need to use the trading platform (as shown below).

    BNB/USD pair on FTX ExchangeBNB/USD pair on FTX Exchange

    The exchange follows a maker and taker fee structure similar to Binance, but the fees are comparatively lesser. Additionally, FTX token holders receive a discount on these fees which ranges from 3-60% depending on the amount of FTX holdings. Users may also incur an extra fee when withdrawing their crypto.

    There are no minimum deposit amounts that lowers the barrier of entry for beginners. Supported payment methods include bank wire transfer, automated clearing house (ACH), credit or debit cards, SEN, Signet, and crypto deposit. FTX offers free withdrawals. However, withdrawals below $5000 are charged a $25 withdrawal fee which is quite expensive.

    It is important to note that FTX.US does not offer the coin. Therefore, users in the US cannot use FTX to purchase BNB or trade the BNB/USD. In short, FTX is a solid choice to invest in Binance Coin with plenty of options thereafter to trade BNB with leverage given its status as one of the top cryptocurrency margin exchanges.

    3. eToro - Best Social Trading Platform to Buy BNB

    eToro was originally a multi-asset brokerage provider but has since pivoted into the crypto space. Apart from BNB and a host of other cryptocurrencies, eToro has thousands of other assets to trade including stocks, ETFs and hard metals. The crypto trading platform is well known for its many social trading features, including CopyTrading, Social News Feed and the Popular Investor's Program.

    Opening an account on eToro takes no more than a minute, and users can make a crypto order with deposits of as little as $10. Apart from not being the best at customer service, eToro checks out everywhere else when it comes to investing in Binance Coin.

    Buying BNB on etoroBuying BNB on etoro

    eToro is one of the premium options to obtain BNB for a variety of 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 a bit higher than other options on this list, but its ease of use and social network may offset this limitation for newbies.

    4. Crypto.com

    Crypto.com is a well-known crypto app that supports multiple digital assets and several blockchain-based products, including of course the BNB token. The platform is primarily known for its relatively cheap fees of 0.4% per transaction, for transaction volumes of less than $25,000. Users can also avail of a discount on trading fees when they hold the CRO tokens.

    Buying BNB on the Cryptocom appBuying BNB on the Cryptocom app

    Buying BNB is very easy with the user-friendly UI Crypto.com is popularly known to have. Along with BNB, there are 150 other cryptocurrencies available to buy on the platform. Like the other exchanges, Crypto.com supports bank transfer, wire transfers, credit/debit card, SEPA, Transfer, Wise, PayPal & others.

    Along with being a crypto exchange, Crypto.com also has an NFT marketplace. Users also have the option to stake their crypto and earn interest of up to 14.5% on the platform. More specifically, Crypto.com has the option to stake BNB tokens to earn passive rewards. Like Binance, this feature makes Crypto.com a top choice for getting started with BNB tokens with the added bonus of earning yield through its Earn products.

    Overall, the Crypto.com platform is a good choice to buy BNB with competitive fees and a premier crypto app that is available on Android and iOS. Although 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.

    Is BNB a Good Investment?

    Binance Coin recorded an estimated 500% increase between late December 2020 to April 2021 as it shot to $650 in value. Aside from the potential profit investors can make from holding the asset, here are a few other reasons to buy the asset.

    • High Trading Volume. At the present time, the BNB coin is worth well over $48 billion in market valuation, which points to high trading volume. Over $1.5 billion worth of BNB is traded daily. Given that Binance holds the top spot in crypto trading, investors can be guaranteed that their trades will be executed rapidly due to the deep liquidity of the coin.
    • Access Portal to Binance Ecosystem. Initially launched as an ERC-20 token on the Ethereum network, the digital asset has since migrated to the fast-rising Binance Smart Chain (BSC) network. To use dApps built atop the Binance Smart Chain, users would need BNB to initiate transactions. Also, in the utilitarian initiative of the Binance ecosystem, BNB is accepted as a payment method for travel, ticket sales and several others.
    • Discount up to 25%. Aside from its multiple use cases, the digital asset is a discount token. Holders of Binance Coin stand a chance of enjoying reduced charges for trading on the Binance exchange. Users interested in saving in fees and hitting on their financial targets faster can easily acquire BNB tokens and get a 25% write-off in fees.

    How To Buy Binance Coin - Full Tutorial

    1. Find and compare a crypto exchange

    The first step to buying BNB is to decide on what type of cryptocurrency services to use. There are several options which include fiat-to-crypto exchanges, trading platforms, decentralized exchanges and brokerages to choose from. Other important considerations to finding the right exchange are the deposit, trading and withdrawal fees, account and wallet security and customer support.

    For the purpose of this how-to guide, we will demonstrate buying BNB using the Binance exchange. This is not a specific endorsement of Binance but is one of the best options for its low fees, excellent liquidity and the ability to earn staking rewards on BNB.

    2. Create an Account

    Visit the Binance website and tap on the ‘Register Now’ button. Then select ‘Create an Individual Account’ and fill in an email address, mobile number, and a strong password. Then verify your email address and mobile number to proceed.

    Creating an account with BinanceCreating an account with Binance

    3. Complete ID verification

    Tap the profile icon and select the email address icon to unlock the ‘Verify’ settings. Upload a copy of a recent driver’s license and complete the face verification exercise. The overall approval should be received within 15 minutes, otherwise, read this guide on how long Binance account verification takes.

    Binance verification processBinance verification process

    3. Deposit funds

    Select the ‘Wallet’ icon and locate the ‘Deposit’ button. Select ‘Cash’ option to proceed to the next stage. Select a preferred fiat currency and the accompanying payment channel. Once the account is funded with USD, the investor can swap it directly for Tether (USDT). USDT is the best and cheapest trading pair to use on Binance which can be converted into BNB.

    Depositing USD to BinanceDepositing USD to Binance

    4. Buy BNB

    The final step is to buy BNB. Type ‘BNB’ into the search bar and select the BNB/USDT trading pair. The next step is to tap on ‘Buy’ to open up the Spot trading section. Fill in the quantity and buy Binance Coin. For safekeeping, the BNB tokens can be withdrawn from Binance to an external wallet.

    Frequently Asked Questions

    Investors can easily purchase BNB on either a decentralized exchange (DEX) like PanakeSwap or using a centralized and secure platform like the Binance exchange. Newbie users are advised to stick to a centralized platform like Binance. Once an account is created and funded, they can buy Binance Coin.

    Investors can easily buy Binance Coin on FTX, Coinbase, eToro, Kraken, and several others. The digital asset is not exclusive to the Binance exchange, but investors should check their preferred option to know the crypto pairs they support before funding the account.

    No, you can't buy BNB on the Coinbase wallet at the time of writing. The self-custody wallet only offers the trading of 1x Short BNB token, a position on the BNB price and not the digital asset itself.

    Binance Coin is a highly liquid asset traded alongside several crypto pairs on several exchanges. The top exchanges to sell BNB are Binance, FTX, Coinbase, eToro, and Kraken.

    Conclusion

    Binance Coin has been one of the breakout coins in the past year. Given BNB's strong market presence, the digital asset is one to look out for in the coming years. For newcomers, in this guide, we have explored how to buy Binance Coin. Our top-rated pick is to obtain BNB on the Binance exchange due to its lower fees, high liquidity, and strong crypto reputation. It's also a great place to sell BNB to cash when the time is right due to its low fees and deep liquidity on its BTC/USD and BTC/USDT trading pairs.

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    Kevin GrovesKevin GrovesKevin Groves

    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. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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