To create an account with your chosen crypto platform, you only need an email address or mobile number. This will usually allow you to deposit cryptocurrency, but not USD. If this is your first time buying cryptocurrency look for a platform that accepts US dollars, like Paybis or .
Tools & Features
While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products. Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
Where Can I Buy Binance Coin?
We’ve mentioned before that Binance created BNB to incentivize participation in its ICO by allowing token holders to claim discounts following the platform’s launch. However, there was a big possibility that the value of BNB would fall once the discount period expired after 4 years. To counter this undesirable event, Binance adopted the concept of coin burning within their whitepaper, committing to reduce the total BNB supply by 50% or 100 million tokens. The token was launched in July 2017 to be used as a tool for crowdfunding in the Binance ICO.
The 2 most common ways to buy BNB are on the spot market or with an “instant buy” feature. Most exchanges let you buy as little as $5 worth of BNB, if not less. Just type in how much you want to spend in USD and let the exchange work out the rest. Binance will continue this process every quarter until it destroys 100 million Binance Coins—approximately 50% of the supply.
- Binance Coin holders can use the tokens to receive discounts on Binance crypto exchange transaction fees.
- Binance Coin is one of the most successful utility tokens with a growing use case list.
- Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally.
- Therefore, even though you do not have to sign up for an exchange account such as Binance, KuCoin, or FTX.com, you will still have to reveal your identity to a third party.
In the follow-up screen, click the Add new card button to link your card. Next, select the fiat currency supported by your preferred payment method. Click the fiat symbol within the Spend tab to open up the available options of supported national currencies. The first mechanism consists of burning a portion of the tokens spent on transaction fees on the BNB Chain, and the second is its quarterly BNB burning events. Finder.com is an independent comparison platform and information service that aims to provide you with information to help you make better decisions.
Where could BNB’s price be heading?
BNB went through a significant price increase at the beginning of 2021, which has put it on the map of enterprise best brokers game tips investors. Crypto exchanges founded and based in the US are required to register with the Financial Crimes Enforcement Network (FinCEN), a division of the US Department of the Treasury. This bureau safeguards the US financial system by working to prevent money laundering, terrorist-financing activity and other financial crimes.
In the next screen, Trust Wallet will prompt you to input the amount of BNB tokens you wish to purchase denominated in your preferred fiat currency. The benefits of buying BNB through Trust Wallet are that it’s fast how and where can i buy bitcoin from britain 2020 and more convenient. Typically, if you buy crypto from an exchange, you will need to move it to a wallet, but if you buy BNB on Trust Wallet, you do not have to send it anywhere else. Trust Wallet is a mobile crypto wallet application available for iOS and Android devices. It is the simplest way to buy BNB without creating an account with any centralized exchange.
For most cryptocurrencies, you will be better off holding the assets in an external wallet where you are guaranteed better safety. However, BNB has more utility within the Binance ecosystem, and you may find that holding your tokens in your exchange account is the best option. Barring some extreme external influence, BNB appears to be primed for steady growth through the rest of this market cycle. If you are bullish on the future of Binance as a cryptocurrency exchange and blockchain provider, then BNB may be a good investment for you.
This strategy is designed to make the supply of BNB more exclusive and valuable. Every quarter, Binance uses 20% of how do bitcoin transactions work its profits to buy back and burn Binance Coins, removing them from circulation and permanently destroying them. Tap on the orange ‘Add new card’ button to fill in your card details.
Binance.US users also receive a 25% discount on trading costs when using BNB to pay fees. Your BNB tokens will be deposited to your Binance ‘Fiat & Spot’ wallet as soon as the transaction is processed. Once you have successfully added your card, it will be listed on the payment page as a payment method, and you can select it when purchasing your BNB. You can then click on the ‘Continue’ button after selecting your payment method and make the payment. The tokens will be deposited into your Trust Wallet account as soon as the transaction is processed.