To start, let us look at what we know about the Binance Coin.
Binance Coin, otherwise known as BNB is a crypto coin that has seen a quick growth over its existence. After Binance made an ICO gather funds for the cryptocurrency exchange, the BNB token emerged and used to cost 0.1 USD per 1 BNB.
Later on, the coin became one of the most successful ICOs. The coin is interesting to buy these days because it is accepted as a payment currency for trading on the Binance platform, might offer discounts on fees, and it is suitable for different investor kinds:
- founding teams
- individual investors,
- ICO investors
Binance Coin is a popular asset to speculate on as well.
This short article will let you see how to trade BTC to BNB and buy Binance Coin for fiat currency.
Where Can You Store Binance Coin: Software, Hardware, and Web Wallets
Before ever trying to exchange any of your fiat money for cryptocurrency, you need to decide where you will store it. There are different wallets: software, hardware, and web wallets.
Ledger is highly recommended among hardware wallets, while the choice of software wallets is wider – Coinomi and Exodus are popular options. Still, for storing the BNB coin, Binance web wallet will be perfect.
How to Purchase BNB Coin When You Already Have a Crypto Wallet
The most widespread way to buy any popular crypto coins is to find an instant exchange service. For example, you can buy one quite fast with https://letsexchange.io/. The main plus is that you get more comfortable conditions and total security of financial operations with such fast exchanges.
It also should be mentioned that LetsExchange offers brilliant integration of multiple exchanges so that you can choose the best rates and save money.
To purchase BNB with this tool, go through the following steps:
- Choose how many Binance coins you want to buy in the exchange widget.
- State the crypto wallet address to receive the coins.
- Pick the ‘fixed’ or ‘floating rate.’
- Check and approve the exchange info and press ‘Accept.’
- Copy the address in ‘Deposit address’ or scan the QR code. Send the specified amount to the deposit address.
- Wait for BNB coins to arrive in the wallet. To ease it, choose to be notified by e-mail when the transaction is through.
Other fast exchanges work similarly, so there won’t be difficulties swapping or buying Binance Coin. Just make sure that your country’s government doesn’t tax this transaction.
Whether or not you find BNB a profitable investment, there might be situations when Binance Coin is the right decision. So, let’s sum it all up. To buy BNB, you need to take 3 steps:
Step 1. Create a reliable wallet to store BNB.
Step 2. Connect the exchange to the chosen payment way.
Step 3. Use the exchange service to buy the coin.
Instant exchanges allow sending the coins to the crypto wallet right away, making them another benefit. In other cases, you will additionally need to send the cryptocurrency you bought from the exchange to your wallet.