How to trade your crypto on Binance in a few easy steps 2023

How to buy on binance exchange

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How to buy on binance exchange

To buy BNB, you can choose to place an order by opening the “Order” menu. Or, you can trade at the current price by selecting the “Trade” menu. By default, the trading window will show you the “Trade” option; you just have to enter the amount to buy.

Can I directly buy BNB?

You may choose your payment method from a variety of payment services (MoneyPay, BinanceConnect, Mercury, Simplex, or Transak). It launched in 2017 as a mobile app wallet for Ethereum-based tokens. Now, Trust Wallet can be used to buy, store and trade on multiple blockchains on desktop browsers and mobile devices. EToro offers a range of features and services, allowing you to buy BNB coins in just a few simple steps. The platform’s user-friendly interface offers a seamless trading experience and allows you to buy BNB for as low as $10.

How to buy on binance exchange

From the homepage of the website (or your dashboard, if you’re logged in), navigate to the upper part of the window, and hover over the “Trade” button. Most significantly, in the US eToro is registered with FinCEN and a member of FINRA and SIPC. This regulation ensures your Binance Coin and other investments are safe.

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After choosing BNB to Buy, Select Apple Pay or Google Pay as the payment mBNBod. The following steps will guide you through how to buy Binance using Apple Pay & Google Pay. To buy BNB on Binance using a Credit or Debit card, navigate to the Buy crypto via card page using the top page navigation menu.

In the US, tax obligations also apply to mining, professional BNB trading and in a range of other scenarios, so make sure you’re fully aware of what you need to report to the IRS. FinCEN-registered exchanges contribute to a more secure financial system in the US and provide you with better consumer protections compared to exchanges based in other countries. 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. Some platforms only offer 1 way to buy BNB, while others provide several choices.

FAQ – How to buy Binance Coin on CoinCasso?

As a native token, BNB is used in both Binance Chain and acts as a community utility token for maintaining dApps on Binance Smart Chain. Initially, Binance Coin had a total supply of 200 million tokens but the current total supply is lower and decreasing due to periodical burning events. Enter a Recipient after that, as it will be the individual getting the Ethereum amount. You must have an Ethereum address on your Binance account since you send the amount to Binance.

  • When you first join Binance and start using it, you will have to buy your first bitcoin or BNB.
  • Binance Coin initially ran on the Ethereum blockchain with the ERC 20 standard.
  • The setup process is simple, provide the card details, then click on the [Next] button to add the payment card to your Binance account.
  • They are almost identical tokens, so knowing how to tell them apart is essential to avoiding costly mistakes.
  • Or, you can trade at the current price by selecting the “Trade” menu.

Despite recent price fluctuations, some investors believe Binance Coin has plenty of growth potential. If you want to invest in Binance Coin, here’s what you need to know.

For holding BNB, you will receive an extra 10% discount on Binance trading fees (make sure to enable this option if you like). If you are trading for high volumes on Binance, you should consider holding BNB. As of writing these lines, Binance Coin is the eighth largest cryptocurrency by market cap, with a market share of almost $3 billion.

The instinctual interface makes it simple to monitor and grow your investment portfolio. You can even take out a loan using your crypto as collateral. On other assets, you can earn up to 17% annual interest, which is paid out daily. If you want your BNB to grow after you’ve purchased it, instead of sitting idle in a wallet, Nexo is a great platform for this. Nexo is a solid option for buying and storing Binance Coin as you can earn up to 8% annual interest on your BNB investment.

Step 3 – Buy BNB.

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. There are two available options to proceed from the main screen. You can either click on the [Buy] button within the center of the page then choose an asset you want to buy. Or, you can scroll down and select the asset you want to buy by tapping it to open more information about it then click to buy on the next screen. Your newly-linked card will be listed by default on the payment page and preselected. Click on the [Continue] button to proceed to the confirmation page.

  • You can specify the amount you want to buy in either USD or BNB.
  • Binance Coin is the cryptocurrency coin that powers the Binance ecosystem.
  • Yet, it is good to point out that eToro too, has certain restrictions to US users.
  • Binance Coin (BNB) is used to facilitate crypto trading on the Binance exchange.
  • BNB is one of the most traded currencies on Binance and is the payment method of the exchange.

Once your funds arrived, or if you have a positive balance of any base-asset like Bitcoin, Ethereum, or USDT, you can start your cryptocurrencies shopping. Trading against FIAT hadn’t been easier, as Binance offers plenty of trading pairs against the US-pegged stablecoins USDT, USDC, BUSD, TUSD, PAX, and more. Binance also offers to trade against some local FIAT coins such as the Russian Ruble and the Turkish Lira. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Step 5 – Confirm the transaction.

You will see a  “Limit Sell Order Created” pop-up immediately. The first result is the BNB marketplace, highlighted with a blue background. Here’s everything you need to know about how and where to buy BNB. No, you don’t need to have a verified account to purchase Binance Coin with Tether.

MetaMask is a browser plugin and can be used with Chrome, Firefox, or a Chromium-based browser like Brave. The platform was initially launched as a non-custodial Ethereum wallet but now supports major blockchains compatible with the Ethereum Virtual Machine (EVM). These include Ethereum, Avalanche, BNB Smart Chain, and Polygon.

The second button will not be shown if you already have some BNB in your wallet. Before we continue, it’s worth noting that Trust Wallet lists both versions of BNB here with different titles to differentiate them. The token named BNB is the BEP-2 version on the Binance Chain (BC) network while the other one named Smart Chain is the BEP-20 token on the BSC network. Click the crypto icon in the [Receive] tab to open a selection window. The higher the number of BNB transactions, the more valuable the coin will become.

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Binance’s competitors, such as Coinbase, Bitfinex, Kraken, and Huobi, do not yet offer BNB trading. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. No matter which method it is that you choose, you’ll still end up purchasing the cryptos with your credit or debit card. Note, however, that if you choose the Simplex route, you’ll have to pass the verification on that platform, as well.

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Trust Wallet probably has the most amount of features adopted from Binance exchange, making it a solid choice for holding your BNB outside the parent trading platform. Follow these simple steps to buy some Binance Coin tokens on Trust Wallet using a credit or debit card. However, you will be required to sign up for a third-party service through which the credit card payment will be processed. Therefore, even though you do not have to sign up for an exchange account such as Binance, KuCoin, or, you will still have to reveal your identity to a third party. Binance originally launched BNB on its exchange as a way to offer users discounts on trading fees when paying with these coins.

You have a wide range of options and you probably want to know which way to buy Binance Coin cryptocurrency is the best. After buying BNB on Binance, you may want to withdraw it to a hard or soft wallet you control. To do this, click the “Withdraw” button on the top right-hand corner of the page.

As of June 2023, Binance does not allow U.S. dollar deposits by global users. Deposits using 27 other fiat currencies, including the euro, are permitted. BNB us a hybrid consensus mechanism known as proof-of-stake authority (PoSA). Holders must stake a minimum of 10,000 BNB to be selected as validators.

You’ll need to create a Binance-Coin wallet (an account) and get it approved before being able to buy. Binance Coin (BNB) is the native cryptocurrency of cryptocurrency exchange behemoth, Binance, which currently runs on its Binance Chain blockchain. Issued during Binance’s July 2017 ICO for BNB, the coin serves multiple utility purposes on the Binance exchange and was initially established with a total supply of 200 million. A Binance-Coin wallet helps you protect your private key, not storing your Binance-Coin.