Binance Coin or 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 where and how to buy Binance Coin via a regulated trading platform.
The best way to buy Binance coin is through a regulated trading platform like eToro. By doing so, investors will be able to invest in BNB coins with kust $10.
- 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.
Virtual currencies are highly volatile. Your capital is at risk.
Where to Buy Binance Coin Today
If you’re wondering where to buy Binance Coin, this popular digital currency is supported by more than 90 exchanges and brokers.
Read the following reviews to determine the best place to buy BNB today.
1. eToro – Overall Best Place to Buy Binance Coin
The number one platform to consider buying BNB is eToro. The site 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.
On cryptocurrency purchases, this starts at just 0.75% per order. When it comes to account minimums, both deposits and cryptocurrency investments can be made from just $10.. This means that with a small capital outlay, you could diversify across lots of different tokens. This low minimum also extends to stocks and ETFs – both of which can be purchased and sold at 0% commission. Another popular aspect of the eToro website is that it allows you to ‘copy’ experienced traders.
It’s worth mentioning that eToro currently supports 50 cryptocurrencies and is constantly adding new cryptos to its portfolio. This means you can buy Ethereum, Dogecoin, Shiba Inu, Polkadot, XRP, and more with low spreads via a secure trading ecosystem.
For instance, let’s suppose that you elect to copy a top-rated crypto trader that uses eToro. After investing $100, your chosen trader risks 14% of their capital on a Binance Coin buy order. In turn, you will automatically find $15 worth of Binance Coin in your own portfolio. Dozens of Smart Portfolios are also offered by eToro, which are managed on your behalf. Some of the most popular pre-made strategies here include crypto, energy, growth stocks, and dividend shares.
Virtual currencies are highly volatile. Your capital is at risk.
2. Crypto.com – Best Platform to Buy Binance Coin for Beginners
Crypto.com is a great way to buy Binance coin and other top altcoins. The platform is one of the fastest growing and best crypto exchanges in the world, and allows you to buy 150 different cryptocurrencies at competitive fees of just 0.4% per trade.
This crypto exchange has some unique features that help it stand out from the crowd. For example, you can reduce fees by 10% if you pay them in the platform’s native token, CRO. You can even get a Crypto.com VISA card and receive cash back in the form of CRO.
We also like that you can complete ‘Missions’ on the Crypto.com app and get rewarded in Diamonds, which can be exchanged for Mystery Boxes containing various amounts of CRO. It even offers a loan system where you can get a credit check-free loan when you make crypto deposits.
Virtual currencies are highly volatile. Your capital is at risk.
3. Binance – Best Place to buy BNB from the Original Exchange
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.
Moreover, if you have the means to deposit crypto and swap it for Binance Coin, you will only be charged 0.10%. This fee can be reduced even further if you trade larger amounts. Payment issues aside, Binance is also a good option if you are looking to trade a wide range of digital tokens. On this platform, you will find more than 1,000 markets – which includes both crypto-crosses and fiat-to-crypto pairs. Binance also offers a mobile trading app and a decentralized crypto wallet.
For a more thorough analysis of all the key metrics associated with this leading cryptocurrency exchange, check out our Binance review today.
Virtual currencies are highly volatile. Your capital is at risk.
Is Binance Coin a Good Investment?
Binance Coin is a good buy and it is considered one of the most upside potential cryptocurrency , as it has a low price at the moment and its value is expected to increase according to crypto experts. 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.
Best Ways of Buying Binance Coin
The best way to buy Binance Coin in terms of payment methods is through a credit card or PayPal.
Buy Binance Coin With Credit Card or Debit Card
Most people will look to buy Binance Coin with a debit or credit card. The reason for this is that when using the right broker – your purchase will be processed instantly.
With that said, cryptocurrency brokers are known to charge high fees on debit/credit card payments. with the industry average standing at 3-5%. For example, Huobi charges between 2-3% depending on the card issuer, and at Binance, this can cost up to 10%.
Buy Binance Coin With Paypal
Some online brokers also allow you to use e-wallets like Paypal. If you’re looking to buy Binance Coin with Paypal in a low-cost way, eToro will charge you just 0.5%.
The broker will process your payment instantly and there is no requirement to enter your Visa/MasterCard details into the platform – as this will already be stored within your Paypal account.
When learning how to buy Binance Coin, not only do you need to understand the investment process itself- but how you intend on storing your BNB tokens. In this sense, you’ve got a couple of options.
First and foremost, if you decide to invest in Binance Coin through an online broker like eToro, you can actually leave your tokens in the provider’s in-house wallet.
This means that eToro – which is regulated by the FCA, will be responsible for ensuring that your digital assets are kept safe. And moreover, when you eventually decide that you want to sell your Binance Coin tokens, you can do this instantly via your portfolio.
The other option is to buy Binance Coin at a cryptocurrency exchange, and then withdraw the tokens to a private wallet after completing the purchase.
Although this will give you more control over your BNB tokens, you need to have a firm grasp of how wallet security works. As such, if you’re a beginner, it’s best to just let a regulated broker like eToro store your tokens for you.
Virtual currencies are highly volatile. Your capital is at risk.
How to Buy Binance Coin Online – Tutorial
If you are ready to learn how to invest in Binance Coin right now – the step-by-step walkthrough will show you how to complete the process with eToro.
As we covered in our review earlier, eToro enables you to purchase BNB from just $10 and at highly competitive fees.
Step 1: Open an eToro Crypto Account
Visit the eToro website to begin the account registration process. From start to finish, this rarely takes more than a few minutes. You will need to enter some basic information about yourself – such as your name, home address, and national insurance number.
Virtual currencies are highly volatile. Your capital is at risk.
Step 2: Verify your Trading Account
As you are using an FCA-regulated trading platform, eToro will ask you to verify your identity. You can do this instantly by uploading a copy of your passport. Full driver’s license is also supported.
If you want to skip this step to a later date, you can do so on the proviso you are not buying more than $2,000 worth of Binance Coin.
Step 3: Deposit Funds
You can deposit any amount into your newly created eToro account from $10 or upwards. Supported payment methods available on eToro include everything from a bank transfer and Skrill to Visa and MasterCard.
Step 4: Search for Binance Coin
Type in ‘BNB’ into the search bar at the top of the page. Then, click on ‘Trade’ to proceed to the final step.
Step 5: Buy Binance Coin
You will now see an order box – which eToro requires you to fill out so that it knows how much you wish to invest.
Once again, this can be any amount from $10 upwards. Click on the ‘Open Trade’ button to confirm.
Virtual currencies are highly volatile. Your capital is at risk.
Where to Buy Binance Coin – Conclusion
This beginner’s guide has explained the simple process of where and how to buy BNB.
We’ve presented a number of online brokers that you can use to complete your BNB investment in a safe and low-cost way, albeit, eToro stands out as the best option in the market.
At eToro, you can open an account and buy Binance Coin in less than five minutes with a debit/credit card or e-wallet, and only pay the spread. Furthermore, and most importantly – eToro is regulated by the FCA.
Virtual currencies are highly volatile. Your capital is at risk.
FAQs on Buying BNB
Where is the best place to buy Binance Coin?
The best place to buy Binance coin is eToro – which is fully regulated and is now used by over 25 million investors, Binance is the best place to buy BNB coins. Simply deposit some funds and you can buy BNB at the click of a button.
Is Binance Coin a good investment?
Binance Coin is one of the best-performing digital currencies in recent years. If you had invested just $10,000 when the token was first launched in 2017, you would now be a multimillionaire. However, there is no guarantee that the value of BNB will continue to rise, so make sure you do your own research.
Virtual currencies are highly volatile. Your capital is at risk.
