How to Buy Binance Coin (BNB): A Simple Getting Started Guide

Binance Coin (BNB) is a popular cryptocurrency that has been on the rise lately. It is therefore no coincidence that many people want to obtain this crypto which is one of the most capitalized on the market. However, it might not be easy for everyone and that’s why we decided to put together this short guide.

Within this publication, you will find a user guide that will allow you to buy Binance Coin safely on a platform that we particularly appreciate. We will also explain to you in broad terms what the project is about and what are the advantages offered to BNB holders.

On which platform to buy Binance Coin (BNB)?

Before telling you how to buy Binance Coin, we have to be completely frank with you. The best exchange to get BNB is of course still Binancesince it is the platform on which you will be able to enjoy all the advantages linked to this token.

However, it is not an easy site to pick up and if you want to invest in BNB but do not necessarily want to use this platform, then there is no need to buy them on Binance.

Now that we have clarified that, let us introduce you to the online broker eToro.

It is a platform that is extremely clear and easy to learn when starting out. The interface is really well designed, whether on mobile or PC. Therefore, whether you use your smartphone or your computer, it will not be complicated to buy BNB on eToro.

Buy BNB on eToro

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

© 01net.com

Another very important point to highlight is the PSAN (Digital Asset Services Provider) accreditation that eToro has. It is an authorization issued by the French stock market policeman, the AMF, which allows the operator to offer its services in a 100% legal way in France. This is therefore an excellent point in terms of security. And this is one of the reasons that makes eToro the best crypto exchange platform of 2022.

But eToro also has other strengths, perhaps the most important of which is its social trading section. Like a social network, you can view the activities carried out by other users in the field of online trading.

You can trade with them or simply copy them automatically thanks to the “copy trading” feature on the platform.

Another very interesting aspect is also the choice of cryptocurrencies that is available on eToro. If you are going to diversify in order to reduce the risk of your crypto portfolio, then you will have many digital assets at your disposal. And if you want to diversify your investments even more, you can even invest in traditional markets or commodities.

Buy BNB tokens: tutorial in 4 steps

As we said in the first part of the article, if you want to take advantage of the advantages of obtaining BNB tokens at all costs, it is better to buy the cryptocurrency directly from the Binance exchange.

Now if your goal is simply to expose yourself to the evolution of this asset, then it is better to go through eToro. Especially if you are just starting out. In the following tutorial, we will show you how to buy Binance Coins from eToro. You will see that the process will be relatively simple.

Also, it is worth noting that the listed steps can be reproduced in order to trade cryptos like Bitcoin, Ethereum, Cardano, Solana, Avalanche, etc.

1) Opening an account on the platform

Because eToro is regulated in France, it is mandatory for people who want to use the platform’s services to register on the site and provide some information about yourself to the broker.

To open an account on eToro, you can either use a Facebook or Google account, or use the classic registration procedure by choosing a username and password. Then, you will have to consult your mailbox to click on a confirmation link to validate the creation of your account.

Open an account with eToro

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

2) Verify your identity

When your account is opened, you will need to verify your identity with customer support. Without this, you will only be able to deposit money within a certain limit (see screenshot below). For your account to be validated, you must provide documents that attest to your address and your identity.

eToro account verification
Verifying your account, a mandatory step on eToro © 01net

Proof of address must be a bill dated within 6 months that clearly shows your name and address. It must be an official document such as a water, telephone or gas bill. To prove your identity, all you have to do is send a photo of your identity card, your driving license or your passport.

3) Deposit funds

Now that eToro has approved your account, it’s time to deposit money on the site. For this, the platform offers you a whole bunch of different options. Here is a brief summary of the most common:

  • Bank transfer. The money may only arrive in your account after a few days, so do not choose this option if you want to buy BNB as soon as possible;
  • Electronic wallet. Whether you use Skrill, Neteller or PayPal, the money will be credited to your account as soon as your deposit is confirmed;
  • Bank card. Again, whether with Visa or MasterCard, you will have your money immediately in your account.

It should be noted that eToro does not charge any commission on your deposits. This is a great thing because then you can invest 100% of the money deposited on the site, which unfortunately is not the case on many other platforms.

4) Buy Binance Coin crypto (ticker: BNB)

That’s it, after successfully completing the first 3 steps, you finally arrive at the stage where it is possible to buy Binance Coin.

Buy Binance Coin here

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

To do this, you must use the search function present on the site and either insert the name of the crypto or its symbol (BNB).

Next, a window will appear where you will have two options for investing in BNB:

  • Invest. If you choose this method, you immediately buy Binance Coin at the market price. The advantage is that you will get your BNB without waiting;
  • Order. In this specific case, you can set a lower than market price to get Binance Coin, but you will have to wait. The advantage is to be able to obtain BNB at a better price than the market price.
Buy BNB Binance Coin eToro
Placing an order to buy BNB © eToro

After choosing the option you are interested in, fill in the amount you want to invest or the number of BNB tokens you want to buy. Finally, press the corresponding button to confirm your purchase.

Binance Coin: Brief Explanation of the Project

BNB is a utility token that is tied to theBinance cryptocurrency exchange. By purchasing tokens, you are able to enjoy many benefits on the site. Here are the main ones:

  • Pay reduced transaction fees. If you use BNB to pay transaction fees, you will have a 25% discount for them;
  • Climbing in VIP statuses. The more BNB tokens you have, the higher your VIP status, which translates into lower transaction fees;
  • Get extra bonuses when referring your friends. If you invite friends to the site, then you will be able to get more money if you have the required number of BNB;
  • Using the Binance Smart Chain. To carry out transactions directly on the Binance blockchain, you must pay with the native token of the project, the BNB.

Of course, you are not at all required to buy Binance Coin in order to profit from it on the platform.

Indeed, you can absolutely buy BNB for speculative purposes or to diversify your crypto investment portfolio. It should not be forgotten that the Binance Coin is in the top 5 of the most capitalized digital assets and that it is a top-notch crypto that must be seriously considered in order to have it in your portfolio.

Of course, the share of BNB you want to obtain will depend on your personal preferences, but it is worth trying to have a minimum in your portfolio to diversify and above all, to have in your possession a solid asset.

It should also be noted that every 3 months, Binance buys BNB at the market price with 25% of the profits made by the platform. Then, these BNB tokens are burned (we also speak of burn), that is to say, they disappear from circulation permanently.

Over time, there will therefore be fewer and fewer BNBs in circulation, which will therefore limit the supply, for an ever-increasing demand. This will result in higher prices as long as Binance remains one of the leading platforms for buying or selling crypto-assets.

In Summary: How to Buy Binance Coin (BNB)

As you have seen, even if the BNB is the utility token of the Binance platform, it is still interesting to invest in it without using this exchange.

Indeed, it is an extremely capitalized crypto, which has an excellent reputation and whose total number of tokens will reduce over time, thus increasing its value due to its rarity.

As a beginner, we do not recommend that you use Binance to buy BNB because the platform is quite complex to learn and you risk making mistakes that could cost you a lot of money.

Instead, we advise you to use a site like eToro which is really easy to use as it is well structured and visually pleasing. In addition, it is a platform that is 100% legal in France, which is a guarantee of security and reliability.

To buy Binance Coin on eToro, you must first register on the site, have your account verified, and then deposit money. To get started without further delay, we invite you to click on the button below:

Visit eToro

At eToro, 78% of retail investor accounts lose money trading CFDs. You need to know if you understand how CFDs work and if you can afford to lose your money. On eToro, cryptocurrency trading is done in CFDs.

eToro


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How to Buy Binance Coin (BNB): A Simple Getting Started Guide


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