Updated on January 23, 2023 8:07 AM
Binance is one of the world's most popular cryptocurrency exchanges, processing 1.4 million transactions each second. The native coin of the exchange, Binance Coin (BNB), is now the fifth-largest cryptocurrency by market capitalization. Although the price has recently fluctuated, some investors still think Binance Coin has a lot of room to develop.
Binance has introduced two parallel blockchains called Binance Chain and Binance Smart Chain (BSC), a decentralized cryptocurrency exchange, and a peer-to-peer cryptocurrency trading platform. Based on trade volume, Binance claims that its cryptocurrency exchange is the biggest in the world.
The virtual token that drives the Binance ecosystem is called Binance Coin. BNB was introduced in 2017 with a 100 million token initial coin offering (ICO) at a price of 15 cents per token, originally on the Ethereum network.
The demand for BNB has been gradually increasing since the Binance Smart Chain (BSC) was introduced in September 2020. On the BSC, the second largest DeFi platform at the moment after Ethereum, BNB serves as "gas" for transactions and DeFi apps.
BNB, which is listed as the fourth most valuable cryptocurrency with a market valuation of more than $4.0 trillion, has a 24-hour trading volume of over $56.4 billion. There are 200.00 million BNB tokens in total supply. You will discover how to buy BNB Coin in today's post using a simple procedure.
The best trading sites for purchasing Binance's native coin are listed below.
You may buy BNB coins on eToro using a number of tools and services in just a few easy steps. A frictionless trading experience is provided by the platform's user-friendly interface, and BNB may be purchased for as little as $10.
It is therefore a suitable option for novices. Many additional cryptocurrencies are available on eToro. It is the perfect platform for ordinary investors who wish to diversify their portfolios because it also provides stocks, FX, and ETFs.
Users on the platform can imitate professional trades using the CopyTrader tool. eToro provides a storage wallet, staking services, and a trading platform. eToro is registered with FINCEN and is a FINRA/SIPC member in the United States. The UK platform is governed by the FCA. This rule safeguards your investments in BNB coin and other securities.
Chrome, Firefox, or Chromium-based browsers like Brave may all use the MetaMask browser plugin. The technology, which was first introduced as a non-custodial Ethereum wallet, is now interoperable with the most significant blockchains.
These include Polygon, BNB Smart Chain, Avalanche, and Ethereum. Any decentralized finance applications that are compatible with the supported blockchains can be connected to MetaMask. On decentralized markets, MetaMask users may trade cryptocurrencies and tokens.
BNB may be directly purchased with a credit card using payment systems like MoonPay or Transak while using MetaMask. The web wallet has drawn criticism for choosing to gather users' IP and wallet information, though.
MetaMask is not the greatest choice if you're searching for a completely decentralized and anonymous platform to purchase BNB.
A non-custodial software cryptocurrency wallet is Trust Wallet. It made its debut in 2017 as a mobile app wallet for tokens based on Ethereum. Now, Trust Wallet may be used on desktop browsers and mobile devices to purchase, store, and trade on several blockchains. The wallet is NFT-compatible as well.
The most distinctive aspect of Trust Wallet is the mobile DApp browser. This browser enables seamless mobile access to decentralized applications, the DeFi protocol, and NFT markets across more than 60 blockchains.
Trust Wallet can be a decent option for you if you're seeking a mobile BNB wallet. You may also use your credit card to immediately buy BNB using Trust Wallet. From a selection of payment options, you may select your preferred payment method.
If you choose to invest in Binance Coin, start by taking the following steps:
You need an account with a cryptocurrency exchange—a website that enables crypto trades—in order to purchase cryptocurrency. Find a cryptocurrency exchange that does BNB trading by doing some research since not all do.
There are several exchanges, ranging from those with basic trading facilities for newcomers to more sophisticated ones for seasoned investors searching for more complicated choices like margin trading or futures.
Using a debit card or an electronic bank transfer, you may fill your account once you've selected an exchange. Enter the trading interface for the exchange once your account has been funded. Type BNB as the ticker symbol for Binance Coin and the investment amount. At the time of the transaction, you may often pick between market and limit orders on exchanges.
You are in charge of protecting your investment, whether you're purchasing BNB or another cryptocurrency coin. There are several kinds of storage:
The digital token that drives the BNB Chain ecosystem is called BNB. One of the most widely used utility tokens in the world, BNB may be used in a variety of applications and use cases in addition to being traded like any other cryptocurrency. If you wish to invest in a major cryptocurrency other than Bitcoin or Ethereum, Binance coin (BNB) could be a great option.
The two-chain system's innovation and usage of the quicker proof-of-stake consensus process enable the shorter duration. In terms of transactions, there is virtually no comparison between Bitcoin and Binance Coin because BNB has far cheaper trading costs than the Bitcoin network.
BNB has an exceptional chance of setting new price value ATHs. The value of BNB is anticipated to rise. Many experts and business professionals believe that BNB might reach its greatest price of $10,304.85 by 2030.