How To Buy Binance Coin

This information is general in nature and is for educational purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

The easiest and safest way to purchase Binance coins is using a centralized crypto exchange. Here's a quick guide on how to buy BNB:

1. Compare and select a crypto exchange.
2. Register an account.
3. Complete ID verification.
4. Deposit funds to a wallet.
5. Buy BNB.

How To Buy Binance Coin – Full Tutorial

1. Find and compare a crypto exchange

The first step to buying BNB is deciding what type of cryptocurrency services to use. There are several options, including fiat-to-crypto exchanges, trading platforms, decentralized exchanges, and brokerages. Other important considerations when finding the right exchange are the deposit, trading, and withdrawal fees, account and wallet security, and customer support.

For the purpose of this how-to guide, we will demonstrate buying BNB using the Binance exchange. This is not a specific endorsement of Binance but is one of the best options for its low fees, excellent liquidity, and the ability to earn staking rewards on BNB.

2. Create an Account

Visit the Binance website and tap on the ‘Register Now’ button. Then select ‘Create an Individual Account’ and fill in an email address, mobile number, and a strong password. Then verify your email address and mobile number to proceed.

3. Complete ID verification

Tap the profile icon and select the email address icon to unlock the ‘Verify’ settings. Upload a copy of a recent driver’s license and complete the face verification exercise. The overall approval should be received within 15 minutes, otherwise, read this guide on how long Binance account verification takes.

3. Deposit funds

Select the ‘Wallet’ icon and locate the ‘Deposit’ button. Select ‘Cash’ option to proceed to the next stage. Select a preferred fiat currency and the accompanying payment channel. Once the account is funded with USD, the investor can swap it directly for Tether (USDT). USDT is the best and cheapest trading pair to use on Binance which can be converted into BNB.

4. Buy BNB

The final step is to buy BNB. Type ‘BNB’ into the search bar and select the BNB/USDT trading pair. The next step is to tap on ‘Buy’ to open up the Spot trading section. Fill in the quantity and buy Binance Coin. For safekeeping, the BNB tokens can be withdrawn from Binance to an external wallet.

Where to Buy BNB

Wondering what the top platforms to buy Binance Coin are? Not all trading platforms support BNB tokens such as Coinbase. This section reviews some of the top cryptocurrency exchanges that allow investors to buy BNB:

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
Kraken	222	0.16% (maker) and 0.26% (taker)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	None available at this time	Visit Kraken	Kraken Review
eToro	79	1%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.7 / 5	None available at this time	Visit eToro Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.	eToro Review
Crypto.com	288	0.075%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.2 / 5	None available at this time	Visit Crypto.com	Crypto.com Revie…

1. Binance/Binance.US

Binance is our top pick for where investors can buy Binance Coin (BNB). Binance has shot through the digital asset trading rank and is currently the world’s top Bitcoin exchange by trading volume, according to CoinMarketCap. The platform launched BNB in an initial coin offering in 2017, and the token has remained native to the Binance smart chain ever since.

You can buy BNB using fiat currency as Binance is one of the best fiat to crypto exchanges around. The exchange offers payment methods, including bank transfers, debit cards and e-wallet solutions. The minimum deposit to buy BNB is $10. Moreover, existing crypto holders can fund an account with Bitcoin or other altcoins for free. Binance also doubles as a safe P2P crypto exchange in the market that opens the doors to more payment methods to acquire BNB tokens.

For more information, read our detailed Binance review.

2. eToro

eToro was originally a multi-asset brokerage provider but has since pivoted into the crypto space. Apart from BNB and a host of other cryptocurrencies, eToro has thousands of other assets to trade including stocks, ETFs and hard metals. The crypto trading platform is well known for its many social trading features, including CopyTrading, Social News Feed and the Popular Investor's Program.

Opening an account on eToro takes no more than a minute, and users can make a crypto order with deposits of as little as $10. Apart from not being the best at customer service, eToro checks out everywhere else when it comes to investing in Binance Coin.

eToro is one of the premium options for obtaining BNB for various investors due to the zero deposits on all payment methods. This includes buying BNB with debit/credit cards, PayPal, Skrill and bank transfers. As for transaction costs, the trading fee is set at 1% and a withdrawal fee of $5. The fees are higher than other options on this list, but its ease of use and social network may offset this con.

3. Crypto.com

Crypto.com is a well-known crypto app that supports multiple digital assets and several blockchain-based products, including of course the BNB token. The platform is primarily known for its fees of 0.4% per transaction, for transaction volumes of less than $25,000. Users can also avail of a discount on trading fees when they hold the CRO tokens.

Buying BNB is straightforward with the user-friendly UI Crypto.com is popularly known to have. Along with BNB, there are 150 other cryptocurrencies available to buy on the platform. Like the other exchanges, Crypto.com supports bank transfers, wire transfers, credit/debit cards, SEPA, Transfer, Wise, PayPal & others.

Along with being a crypto exchange, Crypto.com also has an NFT marketplace. Users also have the option to stake their crypto and earn interest of up to 14.5% on the platform. More specifically, Crypto.com has the option to stake BNB tokens to earn passive rewards. Like Binance, this feature makes Crypto.com a top choice for getting started with BNB tokens with the added bonus of earning yield through its Earn products.

However, the customer service support on the platform can be poor and users have experienced slow and unsatisfied responses as discovered in our full review on Crypto.com Exchange.

Frequently Asked Questions