where to buy binance coin in us?
Biance Coin – now more commonly referred to as BNB, is one of the largest digital currencies in this space by market capitalization. Backed by the Binance exchange, BNB has since become a popular choice for crypto asset investors.
In this beginner’s guide, we’ll walk you through the process of how to buy Binance Coin via a regulated trading platform.
How to Buy Binance Coin – Quick Steps
The fastest and most secure way to buy Binance Coin is to use an SEC-regulated trading platform like eToro. In doing so, you’ll be able to invest in BNB from just $10 (about £7) on a spread-only basis:
✅ Step 1: Open an Account – Visit eToro.com and enter your personal information and contact details to create a free account. Choose a username and password
? Step 2: Deposit Funds – You will now be asked to deposit an amount of $10 or over. Choose from Visa, MasterCard, online banking, or Paypal. Other payment methods are accepted.
? Step 3: Search for Binance Coin – In the search bar, enter ‘BNB’ and click on ‘Trade’ when you see Binance Coin appear.
? Step 4: Buy Binance Coin – In the ‘Amount’ field you will need to specify how much you want to invest in Binance Coin, from $10. Confirm your order by clicking on ‘Open Trade’ to buy Binance Coin on a spread-only basis.
Scroll down to read our comprehensive and detailed walkthrough on how to buy Binance Coin.
Where to Buy Binance Coin
If you’re wondering where to buy Binance Coin, this popular digital currency is supported by more than 100+ brokers and exchanges.
1. eToro – Overall Best Place to Buy Binance Coin for 2022
eToro is a popular online broker and trading platform that is home to thousands of assets across stocks, ETFs, forex, hard metals, energies, and of course – cryptocurrencies like Binance Coin. Opening an account takes minutes at eToro and you do not need to worry about the safety of your funds. After all, eToro is authorized and licensed by several tier-one regulators – including the FCA.
In terms of fees, GBP deposits are charged at just 0.5% – which is one of the lowest pricing structures in the crypto market. This low deposit fee covers all supported deposit and withdrawal methods – such as PayPal, Skrill, debit/credit cards, bank transfers, and more. Apart from the latter, all other payment types are processed instantly. In placing an order to buy cryptocurrencies like Binance Coin, eToro only charges the spread.
2. Crypto.com – User-Friendly App to Buy Binance Coin
crypto.com logoCrypto.com is a great way to buy BNB and other cryptos on your mobile, due to its super user-friendly app for iOS and Android. This is one of the fastest growing and best crypto exchanges in the world, and allows you to buy other 150 different cryptocurrencies at competitive fees of just 0.4% per trade.
3. Binance – Buy BNB Directly From Binance
Binance Coin is backed by the cryptocurrency of the same name. And as such, it goes without saying that this popular platform allows you to buy Binance Coin with ease. With that said, if you’re looking to invest with your debit or credit card, you might be required to pay fees of up to 10%. This is because Binance no longer has the legal remit to directly accept card payments.
If you’ve had any experience with Binance, you’ll know that this leading crypto exchange also provides access to its proprietary NFT marketplace. However, if you want to buy NFTs (non-fungible tokens) you’ll need to first buy Ethereum – which Binance allows you to do with ease. Simply head over to the Express P2P section of the crypto exchange, choose how many ETH tokens you want to buy and click on ‘Buy’. Once you place your P2P order, the corresponding crypto will be escrowed via Binance P2P.
Instead, the exchange has since partnered with several third parties that process payments on Binance’s behalf. Previously, Binance also allowed you to transfer funds from a bank account via Faster Payments, which was free. However, this is also since been suspended. The other option you have is to deposit crypto into Binance. This will actually work out much cheaper than using a debit or credit card, as you only need to cover the blockchain fee.
What is Binance Coin?
What is Binance Coin?As the name suggests, Binance Coin is the native crypto asset backed by the Binance Exchange. Launched in 2017, the main purpose of the token was to allow users of Binance to benefit from reduced trading commissions. Back then, by holding a minimum allocation of Binance Coin, a commission reduction of 50% was offered.
This has since been reduced to a reduction of 25%. With that said, the use case of Binance Coin has since been extended to a variety of other products and services. This includes everything from buying goods via the Binance Pay platform and booking flights on Travala to being able to provide liquidity and even earn interest via staking rewards.
However, perhaps the most dominant use case for BNB is that the token is the primary currency of both the Binance Chain and the Binance Smart Chain. These two independent blockchain networks now support thousands of cryptocurrencies and billions of dollars in trading volume every day. And as such, transaction fees are paid via Binance Coin – which gives the token real-world value.
Is Binance Coin a Good Investment?
If you’re still not whether Binance Coin is the right crypto for your investment portfolio – take a step back and do some independent research.
To point you in the right direction, below we discuss some of the main reasons why you might decide to buy Binance Coin – alongside some potential risks to consider.
The first thing to note about Binance Coin is that this digital currency is one of the best-performing assets – not only in the crypto space, but globally. When the token first launched on public exchanges in 2017, you could have bought a single Binance Coin from just $0.11.
This means that an investment of $1,000 back in 2017 would have resulted in a total allocation of over 9,000 BNB. Since then, Binance Coin has hit highs of $690 per token, which it achieved in 2021. To put this growth into perspective, this means that between its launch in 2017 and its 2021 peak, Binance Coin increased by over 620,000%.