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How To Buy Binance (BNB)

A complete guide on how to Buy Binance (BNB) on different exchanges and brokers. Also Learn how to buy Binance (BNB) using different methods like credit cards, and debit cards.

Author: Usman Ahmed Last updated: 20/10/2021

Introduction

Binance is one of the most successful cryptocurrencies of all time. Launched barely four years ago, the coin has gone on to report one of the highest returns on investment and assumed a near-permanent position among the 5 largest cryptocurrencies in the world by market cap. It has also gone on to become a widely used cryptocurrency not only within the Binance ecosystem but is also gaining acceptance as a medium of exchange, and a store of value – especially for speculative investors.

Its token prices have been rising steadily, making BB coins a must-have for most crypto traders/investors. But how do you buy Binance Coin? What are the best exchanges to buy Binance coins globally and in what ways can you invest or use the purchased Binance coins?

These are some of the most common questions that virtually every new crypto investor struggles with at the beginning of the crypto investment journey. But we will be answering them in detail in this ‘How to Buy Binance Coin guide,’ telling you everything else you need to know before buying BNB coins and providing you with a step-by-step guide on how to buy Binance coins from top-rated and most reputable crypto trading platforms.

Top Three Platforms Where You Can Buy Binance (BNB)

  • Min Deposit: $200
  • Number of Coins: 20+
  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
BankCard CashGiro PayMastercardNetellerPayPalSkrillUnionPayVisaWire CardYandex
Visit eToro

Capital At Risk

  • Min Deposit: 20 $£€
  • Number of Coins: 12+
  • Regulated by FCA & CySEC
  • Place Buy & Sell CFDs Orders
  • Low Minimum Deposit
MastercardNetellerPayPalSkrillUnionPayVisaWire Card
Visit Capital.com

78.77% of retail cfd accounts lose money

  • Min Deposit: 1 $£€
  • Number of Coins: 1500+
  • High Number of Coins
  • Accepts Fiat Deposits
  • Trade on Spot and Futures
Card CashMastercardSkrillWire Card
Visit Binance

Capital At Risk

A Three-step Guide on How to Buy Binance (BNB) Instantly

Step 1: Open an account.

First of all, you need to create an account with an exchange listing Binance Coin. Although there are several options available to buy Binance Coin, we will be going over what we consider the best in this article.

Before you sign up for an exchange, do some due diligence to ensure that your selected crypto exchange is safe and reputable. We will also be telling you what to look for when searching for the best place to buy Binance Coin below.

Step 2: Fund your account.

Your account should have enough funds available to buy Binance Coins. Therefore, deposit some cash into it. Your prospective broker or exchange will offer you multiple deposit and withdrawal options, which include debit/credit cards, e-wallets (Skrill, Neteller, Paypal), bank transfers, wire transfers, and WebMoney, etc.

Step 3: Buy Binance Coin (BNB) with or without leverage.

Once you are done depositing funds in your account, you can start buying BNB. However, you may need to first decide whether you wish to acquire actual BNB tokens or trade BNB CFDs. Depending upon your preference, you can select different platforms. For example, eToro allows traders to either buy actual coins or trade CFDs. Similarly, Capital.com supports CFDs trading only.

Note: When you buy actual coins, the transaction does not involve leverage. When you buy BNB CFDs on the other hand, you will have access to leverage (borrowed funds), which means that you can open relatively big BNB trades with significantly low deposits. 

What is Binance (BNB)?

Binance Coin is a blockchain-based cryptocurrency issued for the first time in 2017 by the Binance Exchange. Initially, it was launched as a utility token to receive discounts on purchases. Later on, the usage of the Binance coin embraced various applications, including payments for online services, entertainment, and financial transactions.

A brief overview of Binance (BNB)

Binance Coin was launched through Initial Coin Offering (ICO) in 2017.  The launch introduced 200 Million BNB tokens to the market, but only 50% of this was sold to the public, with the rest being allocated to the development team and angel investors. Each BNB token was sold for $0.15 and this helped the exchange raise $15 million. Binance exchange allocated the funds raised through ICOs for different purposes, including network up-gradation, brand marketing, and reserves.

Today, Binance Exchange uses one-fifth of its profits to buy back Binance Coins and burn them completely four times a year (every quarter). The crypto exchange has been consistent in burning its repurchased tokens since the launch of the BNB. Recently, Binance burned USD 595,314,380 worth of coins on April 15, 2021. So far, Binance has bought back and burned more than 16% of Binance coins seeing that their total supply has shrunk to 168 Million BJB tokens – according to data from CoinMarketCap.

How does Binance (BNB) work?

The Binance coin is meant to facilitate transactions within the Binance ecosystem. It, therefore, can be used as a utility token and for participating in ICO’s launched through the Binance platform. Over time Binance has been accepted as a medium of exchange and can be used to pay for such services as travel accommodations on sites, such as Trip.io, Travala.com, and TravelbyBit, etc. Investors can also use BNB to buy lottery tickets, virtual gifts, or card packs.

More recently, BNB partnered with Asia’s premier video streaming platform – Uplive, which helped accelerate its acceptance and adoption in the region.

The Binance network

The Binance ecosystem is made up of the Binance Exchange, Binance Chain (BC), Binance Smart Chain (BSC), and cryptocurrency wallet (Trust Wallet). While the BC enables the exchange of digital assets, the BSC supports decentralized applications (DApps). On the other hand, the Trust Wallet allows investors to send, receive, and store their digital assets in a  safe and ultra-secure environment.

How is Binance (BNB) Different from or Similar to Bitcoins?

Binance coin and Bitcoin are similar in the sense that they are both cryptocurrency technologies. BNB is the native digital currency for the Binance exchange and Bitcoin is the native digital currency for the Bitcoin blockchain. But that is far as their similarities go because the two cryptocurrencies are inherently different when it comes to their architecture and purpose. Here are two key differences between the two cryptocurrencies.

Purpose

Bitcoin is designed to serve as a  digital store of value and a medium of exchange. It is on a mission to eventually replace the inflation-prone fiat currency as the preferred currency. Binance coin, on the other hand, is a token for the Binance exchange and ecosystem. It is aimed at facilitating transactions within the Binance network.

Coin supply

Bitcoin has a hard-capped maximum supply of 21 million coins which are constantly mined by its pool of transaction validators across the world. The mining reward is halved every four years, and the last Bitcoin is expected to be mined in 2140. At the moment, there are 18.7 million Bitcoins.

On the other hand, there currently are about 168million Binance coins today. They started at 200 Million in 2017 but Binance has committed to cutting down on this supply by using a share of the exchange profits to buy and burn BNB tokens.

Historical Price of Binance (BNB)

When the Binance exchange launched, about 200 million BNB coins were created to facilitate transactions with the network. But only 100 Million were sold to the public in an ICO that lasted 20 days earned the exchange $150 million – giving each BNB coin a listing value of $0.15. According to CoinMarketCap, however, the exchange-linked coin ended its first full day of trading – 26th July 2017 – valued at $0.105. And in the 96 hours that followed, BNB coin price tanked and hit its current all-time low of $0.096 on 1st August 2017. The fact that both the coin and exchange were relatively new ensured that it missed out on the crypto market rally sweeping the markets at the time.

The coin, however, received a warm reception from the market and its prices started rising steadily to hit $1 in late September before crossing the $10 mark on 8th January 2018. However, this price would trip and fall, forcing BNB to trade below $10 for the rest of 2018.

Throughout 2019 and 2020, the Binance coin attempted several price jumps – reaching $37 in April 2019 but falling and trading $30 for the rest of the year and the better part of 2020. But as lead coins – Bitcoin and Ethereum – started rallying in the last quarter of 2020 Binance took off and embarked on a wild rally.

It crossed into 2021 trading at $37 but rallied fast to end January 2021 trading at $44. The first 19 days of February 2021 proved to be most impactful for the Binance coin as it grew its price by more than 7X to reach $332 and ready the coin for the run to the peak. But before the race to the top, it consolidated and had its prices drop to $230 by 25th March. The consolidation would however be followed by a spirited rally that saw the coin set its current all-time high price of $690 on 10th May 2021.

As of this writing, the BNB coin has shed more than 54% of this value and is currently trading at  $310. It ranks 4th in CoinMarketCap’s list of top cryptocurrencies and has a live market cap of $53 Billion and a circulating supply of 168 million BNB tokens.

What Factors Influence Binance (BNB) Prices?

Ways to Invest in Binance Coin (BNB)

There are several ways in which you can invest in Binance coin (BNB). Given below are four of the most popular.

1) Buy and Hold.

Buying cryptocurrencies cheap and holding them to sell at higher prices is one of the most popular forms of crypto investments. While BNB tokens fall amongst the top favorite digital coins, experts anticipate the crypto price to increase in the future. Therefore, buying the coins now and holding on to them for the long term could set you up for exponential profits when coin prices eventually rise.

2) Buy BNB CFDs.

Opening a CFD contract is yet another effective method of investing in BNB coins. Trading BNB CFDs means buying coins with leverage. You don’t have to buy the actual coins. Instead, you can open a speculative position with a fractional amount. And since CFDs trading involves the use of leverage, you can make excessive profits with limited capital investment.

3) Binance (BNB) day trading

You can also day trade your Binance Coins. Day trading is a short-term trading strategy that involves opening and closing multiple BNB trades on the same day. It is one of the most effective strategies for investors looking to generate quick returns.

Note, however, that the risk involved in day trading is slightly higher than other trading strategies. Before you consider day trading Bitcoins, ensure that you are well versed with the crypto markets, have ready access to advanced trading tools, and have sufficient trading capital.

How To Buy Binance (BNB)?

Given below are some most popular methods to buy Binance coins. However, you can select the one that suits you more.

How to Buy Binance (BNB) With Credit/Debit Card:

Buying Binance Coin with a debit or credit card is probably one of the most convenient methods. Besides being globally accepted, purchases made via debit/credit cards are instantaneous and less expensive. Further, most crypto exchanges, such as eToro, support card payments and don’t charge any fee on deposits.

How to Buy Binance (BNB) With Paypal

Buying BNB coins on eToro using PayPal is also quite hassle-free. Note, however, that PayPal is only available in select countries across the world. Therefore, it is worth checking if eToro supports PayPal payments in your country. If both eToro and PayPal are supported in your country of residence, you may use the platform to deposit as little as $200 and a maximum of $10,000 in your eToro trading account.

Buy Binance (BNB) With E-Wallets (Skrill, Neteller)

Payment through e-wallets (Skrill and Neteller) is yet another cost-effective method to buy BNB coins on eToro. But like PayPal, the availability of these e-wallets depends on your country of residence.

The minimum and maximum deposit limits to your eToro account using eWallets (Skrill, Neteller) are $200 and $10,000 respectively.  Your deposits in any other currency – other than the USD – will be subjected to a 2% currency conversion fee.

How to Buy Binance (BNB) With Bank Wire

Bank Wire is also one of the supported payment methods on eToro. One of the benefits of using a bank to deposit funds into eToro is that there is no maximum deposit limit and the minimum limit is $500. Most eToro platform users, however, don’t prefer bank wire deposits and withdrawals because it may take up to 7 business days for the deposit/withdrawal to be processed.

How to Buy Binance (BNB) Anonymously (Without ID Verification):

You can buy BNB coins on eToro without verification. Since eToro allows you a grace period of 14 days, during which time you can deposit funds into the user account even though your identity isn’t verified yet. But the option is however only available to residents of a few countries and the maximum you can deposit into an unverified trading account is $2250.

What are the Pros and Cons of Buying Binance (BNB)?

Pros

Cons

 

What do You Need Before You Can Buy Binance (BNB)?

Here are the three must-haves that every cryptocurrency trader/investor needs before they can start buying Binance coins.

A trader account

You must have an account opened with a broker or a crypto exchange before you could start buying Binance Coin (BNB). Hereinbelow, we will introduce you to some of the best places to buy BNB globally.

Investment Capital

You can’t start buying BNB coins before depositing funds in your approved crypto trading account. Therefore, add some money into your trading account. Most platforms let you buy Binance Coins worth as little as $1, but the minimum initial deposit may be higher. On eToro, for instance, the minimum deposit is $200 (and $50 for eToro.US users).

Crypto wallet

A crypto wallet is another prerequisite that you must have in hand well before you start buying BNB tokens. You need it to store and hold your purchased BNB coins. Thankfully, though, almost all crypto exchanges provide their platform users with in-exchange wallets where the purchased coins are delivered.

Where Can You Buy Binance (BNB) Today?

There are typically two platforms to consider while buying Binance Coin (BNB), namely crypto brokers and crypto exchanges. Typically brokerages let you buy BNB derivatives like CFDs and futures contracts. You can’t buy actual coins from most crypto brokerages. Exchanges, on the other hand, allow you to buy actual coins. They give you the private keys that serve as proof of ownership of the purchased BNB tokens.

What to Look for in a Binance Coin (BNB) Trading Platform?

Finding the best trading platform to buy Binance Coin could be a difficult task to do, especially when you have multiple options available. However, with some guidance, things become more manageable. Listed here are some of the factors that you should consider before opening an account with any BNB broker or exchange.

Reputation

Before registering with a crypto brokerage or exchange, check that they are of good repute. In such a case you will want to first ensure that they have a highly responsive support team, the exchange is reliable. Check online reviews and see other users’ experiences with the platform before registering an account.

Supported payment methods and fees

Carefully review the supported deposit/withdrawal options and their associated cost, check the deposit/trade minimums, and if they charge deposit or withdrawal fees. You may also want to know the lead time each payment method takes to process your transactions.

User-Friendly trading interface

Besides other factors, a platform should have an easy-to-use trading interface. Despite having rich features and trading tools, a platform with a complex interface will only confuse you instead of adding any benefit to your trading experience.

Security

Before registering a trader account with a crypto trading platform, ensure that it has put in place adequate measures to keep your deposits, crypto assets, and sensitive personal information safe and secure.

Trading fees

You will also have to check the total trading fees charged by a BNB coin trading platform before creating a trader account. Confirm if they are transparent with the fees or if they maintain hidden fees or charges.

After looking at the different ways to buy Binance coins, learning where to buy them, and orienting ourselves with the best ways to invest in BNB, it is now time to look at the best places to buy the digital asset. Here below, we discuss the 5 best places to buy Binance coins in 2021 and provide you with a step-by-step guide on how to purchase your first coin.

1. eToro – Best for Social Trading

Number of Coins: 20+
Margin Trading: YES
Minimum Deposit: $200
Visit eToro

Capital At Risk

eToro is an online social trading platform best known for its exceptional copy trading services. The company started its operation in 2007 and is headquartered in Tel Aviv, ‎Israel‎. The crypto brokerage is highly regulated, making it one of the safest online trading platforms. It also provides users with a free multi-crypto digital wallet where they can store their BNB coins.

It stands out from the competition because it is one of the few brokerages that let you buy BNB coins and buy BNB CFDs. The company then maintains a highly transparent fee model for both the actual token and derivative trades. You will for instance pay a 2.45% spread on trading Binance coins on the platform. Plus it lets you view all the fees affecting your trade before you hit the buy button.

While the signing-up process is fast, multiple payment options make it even more convenient for clients to get started with the broker immediately. At present, the broker accepts payments through debit/credit cards, Skrill, PayPal, Neteller, wire transfers, bank transfers, WebMoney, and some other local payment methods. The minimum amount you need to open an account with eToro is $200, $500 for bank wire, and $50 for eToro.US users.

Pros and Cons of Buying Binance Coin (BNB) On eToro

Pros

Cons

Step-By-Step Process of Buying Binance Coin (BNB) On eToro

  1. Visit eToro’s official website and click on the ‘Join Now’ button to start the sign-up process.
  2. Enter username, email ID, and choose a password. Accept the terms and conditions and click on create an account. Alternatively, you can also use your existing Google or Facebook ID to sign-up with eToro.
  3. On the dashboard, click on the deposit button and enter the amount you wish to add to your eToro account. Select your preferred payment method from the available options, such as debit/credit card, Skrill, Neteller, Paypal, wire transfers, Webmoney, etc.
  4. Enter your payment details. For example, if you choose to pay via card, you need to enter your full name, card expiry date, and three-digit security code available on the back of your card. Authenticate your payment details to complete the transaction.
  5. On the navigation panel, click on the watchlist and search for Binance Coin using the designated field. Select the Binance Coin, enter the desired amount, and click buy to finish the purchase. Your Binance Coins will reach your account instantly.

Note: The purchased Binance coins will be delivered to your eToro exchange account wallet. To move them to a third-party wallet or another crypto exchange, you will need to move them to the free eToro mobile wallet app first. 

2. Capital.com – Best for CFD Trading

Number of Coins: 12+
Margin Trading: YES
Minimum Deposit: 20 $£€
Visit Capital.com

78.77% of retail cfd accounts lose money

Capital.com is one of the leading brokers that offer the best pricing for trading CFDs. Based in the UK, the company has been serving clients all around the world since 2016. However, due to the ban on crypto CFDs, the broker does not accept clients from the US or the UK. Besides providing cost-effective CFDs trading, the company also takes pride in offering rich research and educational resources.

Since traders can’t buy actual coins on Capital.com, you will not need a digital wallet when trading BNB CFDs on the platform. The brokerage does not charge trade commissions and it also maintains a highly transparent fee model with some of the most competitive crypto trading spreads. For instance, the spreads for trading Binance Coin CFDs on Capitla.com start from 13 pips.

Additionally, the brokerage maintains a hassle-free sign-up process along with multiple deposit options, making it a preferred choice for both newbies and veterans crypto traders. The best part is that the company doesn’t charge an inactivity fee. There are no charges on deposits and withdrawals either. The minimum initial deposit on Capital.com is $20 and supported payment options include credit/debit card, Skrill, Neteller, Giropay, QIWI, Webmoney, Trustly, and the traditional wire transfer.

Pros and Cons Of Buying Binance (BNB) On Capital.Com

Pros

Cons

Step-By-Step Process of Buying Binance (BNB) On Capital.Com

  1. Create an account with the broker by clicking the “Trade Now” button available on the broker’s homepage.
  2. Enter your email address and password and click continue to move to the next page.
  3. Verify your email ID by clicking the link received in your email from Capital.com.
  4. Access the dashboard and click on the fund account button. A popup window will appear asking you to select your preferred payment method from the drop-down list. Available options include but are not limited to a debit card, credit card, Bank Wire Transfer, Sofort, iDeal, 2c2p, Trustly, and ApplePay, etc.
  5. Enter your desired deposit amount and authenticate the payment details to finish the transaction.
  6. Search for the Binancoin using the search area available on the top of the watchlist in the trade markets window.
  7. Indicate your trading preferences, enter your desired amount of Binance Coin and press the buy button to open the position.

Note: Capital.com only offers crypto CFDs and not the actual coins. Hence, all the crypto assets bought at capital.com are non-transferable. 

3. Binance – Best for Low Fees

Number of Coins: 1500+
Margin Trading: YES
Minimum Deposit: 1 $£€
Visit Binance

Capital At Risk

Binance is arguably the world’s largest cryptocurrency exchange based on the volume of trade and registered users. It started in late September 2017 and the Binance Coin serves as the native token for the Binance exchange. This then makes the Binance exchange, arguably the best place to buy Binance Coin tokens – especially considering that you will be presented with a 25% discount on fees when you for the transaction in BB coins.

Binance comprises three platforms, including Classic and P2P exchange. Binance Classic serves to be the most straightforward trading interface to allow traders to buy and sell crypto assets.

Last but not least, the Binance P2P exchange allows customers to communicate with each other directly on a secure platform that allows them to customize the terms and conditions for their BNB trades.

On Binance you can buy Binance Coins with a credit/debit card or through integrated third-party exchanges like Banxa and Simplex. You could also choose to deposit another cryptocurrency to your Binance account and later convert it to BNB using the crypto conversion feature.

Pros and Cons Of Buying Binance Coin (BNB) On Binance

Pros

Cons

Step By Step Process of Buying Binance Coin (BNB) on Binance

  1. Visit the official website of the crypto exchange and click the “Register” button. Enter your details on the registration page and move to the next step.
  2. After verifying your email ID and phone number, you also need to complete the KYC process to confirm your identity.
  3. Click on the buy crypto button and add funds to your account. You can buy a Binance Coin against a supported cryptocurrency at Binance. Alternatively, select your preferred payment methods such as debit/credit card or third-party payment protocol (Simplex, Banxa, Paxos).
  4. Specify the amount of Binance Coin you wish to buy. Enter the payment details and authenticate them to complete the transaction. Binance transfers BNB tokens to Binance wallet instantly.

Other Ways of Getting Binance Coin (BNB)

Since you know how to buy Binance Coin on some top-rated exchanges, let us now go through a few alternative ways through which you can actually acquire Binance Coins.

Gift or tip

Cryptocurrencies have become widely popular amongst the masses. One of the common ways to get cryptocurrencies is to buy them. However, due to Binance’s increased popularity, it is increasingly being offered as a gift or tip among friends and acquaintances.

Through Binance Coin faucets

Faucets are websites that offer free BNB coins when you contribute to different tasks hosted therein. Here, you are rewarded with coins when you complete a specific task. For example, you might need to play a game, watch a video, or bring a referral.

Binance Coin staking

Different DeFi protocols on the Binance network allow you to stake your Binance assets. You will then be rewarded with interest after the staking period. This appeals to long-term Binance Coin investors as it allows them to earn doubly from their Binance holdings- first from Binance coin value appreciation and secondly, from the staking reward.

How Can I Use Binance Coin (BNB)?

After buying BNB coins, you may wish to know how to use them best. Listed below are a few ideas that are worth considering.

HODL (Buy & Hold)

HODLing your BNB tokens anticipating an increase in their prices can be a good idea. By doing so, you can sell your BNB coins at higher prices. However, cryptocurrencies are highly volatile; there is an equal chance for cryptocurrencies to lose their value in no time. Therefore, it is always suggested not to invest money you can’t afford to lose.

Trade the Altcoin

You can also day trade your BNB coins on the listed brokerage firms and exchanges. Day trading is one of the most effective methods to make quick profits. However, day trading is a comparatively riskier form of investment. It might not suit beginners. Not to mention, you can seek professional help and let someone experienced manage your account. You can also consider subscribing to a copy trading platform.

Pay for goods and services

Cryptocurrencies have been used as a supported payment method worldwide. Binance has recently launched Binance Pay, making it possible for you to spend your BNB coins in paying for different services and products at thousands of retail merchant outlets globally.

Last but not least, you can donate some of your BNB coins to a non-governmental organization championing different charitable courses. Today, most charitable organizations are crypto-friendly and will gladly accept BNB coin donations.

What do Reddit & Quora Users Say About Investing in Binance Coin (BNB)?

Reddit & Quora are the two most popular platforms to read customers’ experiences in almost every niche. We also tried to find people’s views on investment in BNB coins. Given below is a quick summary of our findings.

Quora

The Quora community seems to be in full support of investment in BNB coins. According to most members on Quora, the Binance coin holds massive potential to witness a surge in its price due to various reasons. First of all, the exchange’s practice of burning BNB coins at regular intervals will keep the coin circulation limited. Hence, there will always be an increased demand for the coin, which will help the coin’s price rise. Secondly, the coin is issued by the world’s most popular and largest cryptocurrency exchange.

Some other crypto enthusiasts seem to be supporting Binance Coin as they believe that ongoing developments of the Binance exchange suggest that the company envisions making the BNB coin as a primary infrastructure provider for the whole blockchain ecosystem. Lastly, the company launches new products and services consistently, which becomes one reason why a vast community of crypto traders feels inclined towards investing in the BNB coin.

Reddit

All matters Binance coin are discussed within the highly informative and vibrant Binance Subreddit. Here the community of Binancians (Binance coin investors/traders on Reddit) discusses news and events surrounding both the Binance exchange, coin, and the larger Binance ecosystem.

The subreddit moderators regularly update the followers with news and announcements about the Binance coin. The community, on the other hand, discusses the impact any of these will have on the prices and future of the coin. Here, you will also find highly informative reviews, guides, and opinions about the coin and the  Binance network.

At the moment, for instance, the hottest discussions within the channel revolve around Binance relations to regulations, the impact that hard stand against binance by different financial regulators will have on the network and the coin fees, and the sustainability of the ecosystem.

There also is a lot of commentaries and discussions about Binance Coin’s future prices, debates on whether it will ever rise and break above the current all-time high, and if it will eventually overtake Ethereum and Bitcoin as the lead blockchain network and cryptocurrency.

Bottom Line

Binance has had an inspiring past seeing that it was launched 4 years ago and it now has a near-permanent position among the top 5 largest cryptocurrency projects of all time. From a listing price of $0.15, the Binance exchange linked token reports more than 270,000%  return on investment. Given such an attractive past price performance as well as its promising future, it has become such a valuable asset among both professional and novice crypto investors.

In this guide, we have provided you with a step-by-step guide on how to start investing in the Binance coin. We started by looking at how the coin works and price history, we looked at different ways of investing in Binance coin, highlighted the different ways to invest in the exchange-linked coin, and then provided you with a step by step guide on how to buy Binance globally on what we consider to be the best places to buy BNB tokens.

Go over this guide again, identify the trading platform that best suits you, register an account, deposit some cash and start your Binance Coin trading journey.

Frequently Asked Questions (FAQs)

The straightforward answer is Yes. However, since the cryptocurrency market is highly volatile, the prices can go up or down within no time. Therefore, you should research well before investing in it. Ultimately, it depends upon how much you intend to invest and how much risk you can tolerate.

Binance Coin is a multi-purpose coin that you can use to pay credit card bills, buy virtual gifts, pay for travel accommodation, make an investment, or donate to a charity.

Yes, it does. Usually, small fractions that are left from trade transactions are ignored in the crypto space. Binance enables investors to convert their dust into Binance Coin (BNB).

Since the company embraces technological advancement and keeps endeavoring to introduce new products and services, BNB has a higher chance of a surge in the future. Since the inception of the Binance Smart Chain (BSC) enabled DeFI app developers to benefit from lower transactional charges compared to Ethereum blockchain, it can help the price of the BNB to rise. Not to mention the company’s clever approach of buying back BNB and burning them can also become the reason for the coin to spike.

Crypto expert’s long-term forecast at https://coinpriceforecast.com/ suggests that the price of the Binance Coin is likely to hit the $500 milestone by the end of 2021. The price will continue to surge while printing higher highs till the mid of 2023. By that time, it will have surpassed $1000. With a 494% increase in the price, the Binance Coin will reach $1779 by the end of 2025.