Naturally, this requires a lot of market analysis, and you’ll have to constantly be on the look-out for some price fluctuations, crypto news, major changes, and so on. Still, it can prove to be quite profitable – that’s why it’s an important factor to keep in mind when trying to learn how to buy how many stocks should you own on Binance. With the “Market” option, you’ll be able to purchase BTC at the exact price that it holds at that point in time.
One at the top and one towards the lower section of the screen. The second button will not be shown if you already have some BNB in your wallet. Click the crypto icon in the [Receive] tab to open a selection window.
The Trading Method
However, you will be required to sign up for a third-party service through which the credit card payment will be processed. Therefore, even though you do not have to sign up for an exchange account such as Binance, KuCoin, or FTX.com, you will still have to reveal your identity to a third party. Your newly-linked card will be listed by default on the payment page and preselected. Click on the [Continue] button to proceed to the confirmation page. The confirmation page also highlights the cost of the transaction.
Normally, we would recommend storing all your long-term digital asset investments in a hardware wallet such as Trezor or Ledger for increased safety. The first one is to control prices after the token sale period. Due to a large number of sell orders, the market becomes saturated, leading to a massive fall in price. They are different versions of the same token, serving the same purpose. It is, however, important to differentiate between each to avoid losing your tokens between transfers.
Follow these simple steps to buy some Binance Coin tokens on Trust Wallet using a credit or debit card. If you’re looking at how to buy on Binance, you’ve probably already decided that this particular cryptocurrency exchange platform is the best option for you. If, however, you’re still not 100% certain, let’s quickly run down through some of the most prominent features of the platform. Binance is one of the most popular crypto exchange platforms on the market. As you probably already know, it offers users a wide variety of benefits, and is considered to be at the top, as far as reputability and trustworthiness are concerned. Today, in this tutorial, we’ll talk about how to buy on Binance, on top of some other things.
How To Deposit Crypto On Binance
The next best way to buy BNB is to use the official Binance cryptocurrency exchange. You want to click on the last one labeled ‘Buy.’ This will open up a new dialog screen to choose the asset you want to buy. In our case, we are buying BNB, so go ahead and select BNB from the dropdown list. We’ve mentioned before that Binance created BNB to incentivize participation in its ICO by allowing token holders to claim discounts following the platform’s launch.
On top of that, it may also prove to be a great alternative for those traders who are trying to get the most BTC (or some other crypto coin, such as ETH, EOS, or else) for their money. The rest of the methods are actually quite self-explanatory, and will follow a similar pattern to that when you’d purchase cryptos on the platform via a credit or debit card. No matter which method it is that you choose, you’ll still end up purchasing the cryptos with your credit or debit card. Note, however, that if you choose the Simplex route, you’ll have to pass the verification on that platform, as well.
Current Crypto Prices
- If you do not currently use Trust Wallet, however, you will need to download the app and create a new wallet before you can use it.
- On this screen, there are two [Buy] buttons you can use to purchase BNB.
- Few other coins have seen such return on investment (ROI) multiples over their lifetime.
- The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
Once you select the corresponding assets, fill in the amount you want to transact. You can specify the amount you want to buy in either USD or BNB. From the Binance home page, hover over the [Buy Crypto] link on the top navigation bar, then select the [Credit/Debit Card] option from the drop-down list. Admittedly, the screen interface that you’ll be redirected to might appear a bit intimidating at first.
However, over the last 60 days, BNB has been resilient compared to many of its competitors – protecting its market capitalization rank behind Bitcoin, Ethereum, USDC and Tether. You can trade BNB on Binance’s exchange or stake it on the BSC network to earn interest. Binance also has its own decentralized exchange, the Binance DEX where you can trade for a network fee.
The token was launched in July 2017 to be used as a tool for crowdfunding in the Binance ICO. As a utility token, it would enable its holders to claim trading fee reductions on the exchange once the platform launched. Binance raised about $15 million from the ICO, and over 100 million tokens of BNB were distributed to the public.
After you have filled out this dialog box, click ´Continue´ to proceed to the payment step. These are just some of the few ways you can make use of your BNB tokens. More uses are discovered and added regularly, and this makes BNB even more valuable. Therefore, the founding team got an 80M token reserve, 20% (16M) of which was to be released immediately after the ICO, and the remaining amount to be released in equal batches of 16M for four years. Despite recent price fluctuations, some investors believe Binance Coin has plenty of growth potential.
However, depending on how you want to use the Binance Coins, you may find that keeping them on the Binance exchange is the best option. If you have to use an external wallet, Trust Wallet is a solid alternative operated and maintained by Binance. Tap on the orange ‘Add new card’ button to fill in your card details. By clicking on the ‘Credit/Debit card’ link from the previous step, you will land on the page below on which you will provide your order or transaction details. The second reason is incentivizing the founding team to keep working within the company or on the project.
There are several ways to buy BNB, but most of these are unofficial and sometimes risky. Not just that but methods such as using third-party brokers that accept credit and debit cards can be extremely pricey. We are not discouraging or generalizing when we say unofficial sources of BNB are bad places to get the tokens, but we encourage you to research before choosing which platform to use.
How to Buy on Binance: A Comprehensive Guide
You can get additional utility with some of the available options listed above, such as stalking with Trust Wallet or Ledger wallets. Trust Wallet probably has the most amount of features adopted from Binance exchange, making it a solid choice for holding your BNB outside the parent trading platform. For most cryptocurrencies, you will be better off holding the assets in an external wallet where you are guaranteed better safety.