4/20/2023 0 Comments Buy binance coin![]() ![]() As a direct consequence of this, its price is now largely determined by the level of success achieved by the underlying blockchains. Similar to how Ether is the native asset of Ethereum’s blockchain, BNB is now the native asset of two blockchains that are interlinked and must be spent in order to complete any transaction on either of these blockchains. Examples of such applications include smart contracts (BSC).Īs a result of the launch of their very own blockchains, Binance Chain in 2019 and Binance Smart Chain in 2020, BNB now has a third use case that is fundamentally distinct from the previous two: it can be used as a gas token. The token can be used by traders to pay fees on the platform, and developers can use it to power applications on the Binance Smart Chain. In addition, the company offers you a discount on the fees associated with currency transfers and exchanges if you pay for them in BNB rather than in other currencies, which acts as an incentive for you to hold BNB. On the Binance exchange, you are able to trade BNB for any other token that is currently available. If you believe that the company has the potential to expand even further, this will be reflected in the price of the BNB, which will give you the opportunity to sell it at a much higher price in the future compared to when you originally purchased it.Īside from that, BNB functions exactly the same way as any other cryptocurrency running on any other blockchain. Follow the on-screen instructions to verify the payment.īinance Coin (BNB) is the first and foremost representation of your stake in the Binance platform itself. You will then be redirected to your bank’s OTP Transaction Page. You can click “Refresh” to see the latest market price. After 1 minute, the price and the amount of crypto you will get will be recalculated. Step 4: Check the payment details and confirm your order within 1 minute. ![]() Then enter your credit card details and your billing address. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide. Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. When you have selected the amount you wish to spend then press “Continue”. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. ![]() Step 2: Here you can choose to buy crypto with different fiat currencies. Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection. Note: Make sure to always double-check your transaction details, such as the amount of Binance Coin (BNB) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. The exchange will then calculate the equivalent amount of Binance Coin (BNB) based on the current market rate. Look for the section that will allow you to buy Binance Coin (BNB), and enter the amount of the cryptocurrency that you want to spend for Binance Coin (BNB) or the amount of fiat currency that you want to spend towards buying Binance Coin (BNB). All you have to do is find a navigation bar or a search bar, and search for Binance Coin (BNB) or Binance Coin (BNB) trading pairs. This process is similar across almost every cryptocurrency exchange. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs. Note: Some payment methods will have higher fees than others, such as credit card payments. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers. Many cryptocurrency exchanges will allow you to purchase Binance Coin (BNB) with fiat currencies, such as EUR, USD, AUD and others. This is most commonly the case with licensed and regulated exchanges. Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address. ![]()
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