How to buy BNB – Binance Coin cryptocurrency

Dean Dec25 May, 2023

Step-by-step buying guide 2023.


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This article will show you exactly what you need to do to buy Binance Coin (BNB) cryptocurrency.

You have different options to choose from:

You can buy Binance BNB coin on an exchange or trade BNB on a brokerage platform.

Find out which option is better for you:

Content

BNB coin icon

Introduction

This is the story behind the Binance coin (BNB)

bnb from the stock exchange or through a broker

Part 1

From a broker or from an exchange?

how to buy bnb cfd

Part 2

Buy BNB CFD with broker

how to buy bnb cryptocurrencies

Part 3

Buy Binance coins with exchange

technology bnb

Part 4

Is BNB a good investment?

bnb price history

Part 5

BNB Coin: price history

Introduction

Understanding how to invest in Binance coin (BNB)


Binance Coin (BNB) is the proprietary cryptocurrency of the globally-renowned Binance exchange. Binance launched this coin through an initial coin offering (ICO) in July 2017, minting 200 million units of this ERC-20 token. Binance Coin serves multiple critical functions within the platform’s ecosystem.

Firstly, it acts as an added revenue stream for the platform, which aids the exchange’s development. Secondly, it presents token holders with numerous advantages when using the exchange. BNB can be utilized to lessen transaction fees. For instance, in the first year, Binance offers token holders a 50% discount on transaction fees.

Let’s delve into how one can acquire BNB.

If you’re interested in investing in the most recognized cryptocurrency – Bitcoin, you may want to read our guide on How to buy Bitcoin.

Part 1

Should I buy BNB from a broker or on an exchange?






Regardless of your choice, both options offer a chance to profit from the anticipated cryptocurrency surge.

The licensed brokers we list are under EU financial supervision and provide additional protections such as a deposit guarantee up to €20,000 for all investors.

Choose your preferred option…

Part 2

Trading BNB CFDs


Interested in trading BNB with a CFD broker?

We’ve compiled a list of the most prominent CFD brokers to help you choose the right one for you.

Winner
eToro-Icon
Hybrid

ecoinomy rating:

9.5/10

Max leverage 2:1 CFD
Deposit fees FREE; minimum deposit USD 50
Trading fees Spread 1%
Licences FCA 7973792 + AFSL #491139 + CySEC 109/10,
Cryptocurrencies 79+ BTC-Coin-IconETH-Coin-IconMIOTA-IconBCH-IconRipple-IconDASH-IconADA-Coin-IconEOS-IconLTC-IconNEO-IconXLM-IconZEC-IconEthereum-Classic-IconBNB-Icon
Payment methods PayPal, debit and credit cards, Skrill, Neteller, SEPA, UnionPay, Yandex, WebMoney
Number of users 25.000.000+

Security


Fees


Ease of use


Customer service


Visit site »

78% of private CFD accounts lose money.


Libertex logo
Broker

ecoinomy rating:

9.2/10

Maximum leverage 2:1
Minimum deposit 100 EUR
Trading fees from 0,0003%
Licence CySEC 164/12
Cryptocurrencies BTCETHBCHXRPLTCETCADAXLMEOSNEOTRXQTUMXEMSTEEMDashIOTAZCashBinance CoinTezosMoneroChainlinkCosmosPolkadotVechainUniswap
Payment methods SEPA, PayPal, Skrill, Neteller, Visa, Mastercard
Number of users 2.200.000+

Security


Fees


Ease of use


Customer service


Visit site »
85.9% of retail investor accounts lose money when trading CFDs with this provider.

Logo del broker Avatrade cfd
Broker

ecoinomy rating:

8.7/10

Max leverage 2:1
Min deposit 100 EUR/USD/GBP
Transaction fees 0,2 – 2%
Licences Central Bank of Ireland
Cryptocurrencies BTCETHBCHXRPLTCXLMEOSNEODashIOTAChainlinkUniswap
Payment methods PayPal, SEPA, VISA, MasterCard
Number of users 300.000+

Security


Fees


Ease of use


Customer service


Visit site »


skilling logo
Broker

ecoinomy rating:

9.1/10

Maximum leverage 20:1
Minimum deposit 100 EUR
Trading fees 1%
License CYSEC, FSA
Cryptocurrencies 51+ BTC-Coin-IconETH-Coin-IconMIOTA-IconBCH-IconRipple-IconDASH-IconEOS-IconLTC-IconNEO-IconXLM-IconZEC-IconEthereum-Classic-IconTezosMoneroCosmosVechainUniswap
Payment methods SEPA, VISA, MasterCard, Trustly, Skrill, Neteller, Klarna, Swish
Number of users unknown

Security


Fees


Ease of use


Customer service


Visit site »

We recommend eToro, the world’s leading cryptocurrency CFD broker, which is among the few brokers currently offering Cardano. Besides CFDs on Bitcoin, Binance Coin, and other major cryptocurrencies, you can also trade commodities, gold, and more.

eToro, operational since 2007, offers cryptocurrency trading 24/7 and is well-known for its ‘Social Trading’ feature. Users and successful traders can share their trading strategies, which others can then copy.

Additionally, eToro supports several deposit methods, including bank transfer, credit card, PayPal, and Skrill, making trading BNB on eToro a convenient option.

Step 2

Setting Up an eToro Account


You will go through the registration process in a few minutes.

You can choose between two types of account:

  • A Demo account
  • A Real account

A demo account lets you trade with virtual funds, providing an ideal way to gain initial experience on the platform without risking your own money.

To effectively invest in BNB, however, you’ll need to open a real money account.

As eToro is a broker regulated by the EU, you’re required to verify your details to unlock all platform features.

Once done, you’ll receive an email enabling you to confirm your account opening with a single click.


Step 3

Making a deposit on eToro


Under the “Trade” menu, you’ll find all deposit methods supported by eToro, including bank transfer, credit card, and PayPal.

Transactions via PayPal and credit card usually process quickly, while bank transfers might take several days.

Input your desired deposit amount (minimum of EUR 50) along with the required payment method details, then confirm your deposit. You can check your account balance and transaction history at any time.


Step 4

Purchasing BNB CFDs


One of the benefits of investing in cryptocurrency CFDs is the ability to directly invest in cryptocurrencies without complex workarounds. In contrast, buying cryptocurrency coins on exchanges often requires converting euros into bitcoins and then bitcoins into the desired cryptocurrency.

This is due to exchanges typically lacking suitable trading pairs between euros and various cryptocurrencies.

So next click “BUY” (or “SELL”) and input the number of BNB units you want to trade.

Furthermore, eToro allows the use of a cryptocurrency wallet.

Cryptocurrency wallets are considered by some experts to be the best way to diversify different cryptocurrencies.

 

eToro-social-trading

This entire process from the screenshot above is known as Copy trading—a very intriguing subject.

We advise checking the user whose portfolio you plan to copy beforehand.

Part 3

Acquiring Physical BNB Cryptocurrencies


Those who actively trade Binance coins and wish to utilize them can do so directly on the native Binance exchange. The coin has many potential uses and with a vast selection of supported trading pairs, there is a suitable trading option for every user. Active users of the Binance cryptocurrency exchange can easily enjoy the straightforward and speedy trading with BNB.

Binance cryptocurrency can be bought directly using euros, given that a deposit has been made beforehand. Storage operates the same as for all other cryptocurrencies, in Binance’s inbuilt spot wallet. Registration with Binance is straightforward, free, and easy to complete. Besides physically owning a token, Binance also allows futures contract trading.

Register now on Binance and buy BNB.

Part 4

The Investment Potential of BNB

Many other cryptocurrencies aim to be universally accepted as payment methods with diverse uses. Therefore, the intended function and use of Binance Coin seem somewhat restricted at first glance. It can practically only be used on a major exchange’s platform and doesn’t have uses beyond this. However, many experts believe that BNB is a promising investment for the future. But why is this so?

Shortly after its establishment in 2017, Binance quickly rose to become one of the world’s largest cryptocurrency exchanges. The platform, founded by Changpeng Zhao and relocated to Malta due to Chinese regulations, offers essential exchange functions and is active in various sectors. Due to its deep integration with the Binance ecosystem, it is an excellent choice as a transfer currency for many portfolio products. BNB’s primary advantage is its fast transaction processing, thanks to the highly efficient Binance Smart Chain.

Shortly after its establishment in 2017, Binance quickly rose to become one of the world’s largest cryptocurrency exchanges. The platform, founded by Changpeng Zhao and relocated to Malta due to Chinese regulations, offers essential exchange functions and is active in various sectors. Due to its deep integration with the Binance ecosystem, it is an excellent choice as a transfer currency for many portfolio products. BNB’s primary advantage is its fast transaction processing, thanks to the highly efficient Binance Smart Chain.


Part 5

BNB: This could change the price in the future


As previously mentioned, some benefits of BNB are finite and won’t be available forever. However, many experts predict a promising future for Binance Coin. Analysts project prices to be in the $252 to $890 range by 2025. Binance plans to tightly integrate BNB into its platform in the coming years, securing the coin’s future use. Another significant factor is the regular coin burns, which lead to automatic price increases.

Currently, BNB can be traded for over 400 other cryptocurrencies, making the token a popular trading option. Additionally, the Binance Launchpad crowdfunding platform has seen strong growth recently. This is one of BNB’s most crucial areas of application. Here, investors can use BNB to directly invest in start-ups and share in their success. If Binance manages to create additional use cases in the future, there’s nothing standing in the way of Binance Coin’s continued success. Investors buying Binance Coin today can benefit from both the success of the exchange and the future of the BNB token.

Part 6

Summary: Should I buy Binance Coin (BNB)


Binance Coin is the native cryptocurrency of the prominent cryptocurrency exchange, Binance. Since its inception in 2017, the coin has been a critical part of the Binance ecosystem. In the initial years, the exchange provided BNB holders with a discount on all fees. Binance has fully integrated its token into its own ecosystem. Initially developed as an ERC-20 token, BNB was moved to Binance’s smart chain and transitioned to the BEP-20 format.

BNB has many applications but is of no use outside the Binance platform. Therefore, the token’s longevity and success are closely tied to the exchange’s development. However, Binance is among the largest and most popular exchanges in the cryptocurrency world. Moreover, regular token burns will destroy half of BNB’s supply, leading to artificial scarcity. Many experts believe a significant price increase is likely, both in the short and long term.

Author: Dean Dec

Dean is a passionate advocate for the financial freedom and independence offered by Bitcoin and the cryptocurrency space. Enthusiastic about the cutting-edge technology and the dynamic community behind it, Dean enjoys sharing valuable insights and empowering others to embrace the transformative potential of digital currencies.