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How to buy, sell and trade Binance Coin (BNB)

Where, why and how to buy, sell and trade Binance Coin (BNB).

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Binance Coin (BNB) is the native token of the Binance exchange. It was used to fund the creation of the exchange itself through an ICO and offers users a potentially useful range of features.

  • Offers discounts when used to pay Binance fees
  • Can be traded on Binance for other coins
  • Will eventually become a native coin of the decentralized Binance exchange

Binance in the USA

From 12 September 2019, users in the United States can no longer trade cryptocurrencies on the main Binance exchange, although withdrawals and wallet access will remain unaffected.

As of 24 September 2019, US residents can now trade USD on Binance.US, the American arm of Binance.
Read the full Binance.US review here.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy, sell and trade Binance Coin (BNB)

You can buy BNB on Binance using a wide range of other cryptocurrencies.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
ZenGo Cryptocurrency App
Credit card,Debit card,Bank transfer (SEPA)
USD

48
cryptocurrencies

Take advantage of ZenGo's unique self-custody system to buy, sell and spend and earn cryptocurrency in your own wallet.
Bank transfer (ACH),Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Finder Exclusive: Get up to 10 USDT in trading fee rebates for signing up and making a deposit, and up to 30 USDT in trading fee rebates after buying with fiat. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH),Bank transfer,Cryptocurrency,Debit card,Wire transfer
USD

29
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Paybis Cryptocurrency Exchange
AdvCash,Credit card,Debit card,Neteller,Payeer
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

9
cryptocurrencies

Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Changelly Crypto-to-Crypto Exchange
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
YoBit Cryptocurrency Exchange
AdvCash,Cryptocurrency,Payeer,Perfect Money,Capitalist
USD, RUB

1427
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies

A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
Gate.io Cryptocurrency Exchange
Cryptocurrency
-

36
cryptocurrencies

Bitit Cryptocurrency Marketplace
Cash,Credit card,Debit card,Neosurf,Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
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Compare up to 4 providers

About Binance Coin (BNB)

There’s a total cap of 200 million BNB, but it’s a deflationary currency and will eventually shrink down to a cap of 100 million over the course of five years.

The 200 million was distributed 50/50 between the company and the public ICO.

This deflation is carried out through Binance’s purchase of 20% of the remaining public supply each quarter. The bought-back portion of coins is then burned.

What is BNB used for?

The main purpose of BNB is to give you a discount on fees incurred when that fee is paid with BNB. This might be withdrawal fees, trade fees or anything else.

The discount decreases year on year in line with the 20% bought back each year.

  • Year 1 – 50% fee discount
  • Year 2 – 25% fee discount
  • Year 3 – 12.5% fee discount
  • Year 4 – 6.75% fee discount
  • Year 5 – 0% fee discount

BNB will gradually become less useful over time, most likely to discourage hoarding of BNB by users ahead of the buy-back.

In the future, Binance aims to build a decentralized exchange, and BNB will be used as one of the key base assets on the site as well as the gas that’s spent while executing contracts of the decentralized BNB exchange.

How to sell or trade BNB

  1. Go to the exchange platform where you have BNB. If you have it in a digital wallet, you can choose a compatible exchange platform to use from the list above.
  2. Via the platform, follow the instructions to complete your sale or trade.

Should I buy BNB?

If you’re a frequent Binance user and want to duck large fees – especially if you plan on making very large trades or withdrawals – it might be worth stocking up even at high prices.

But remember that the discounts will decrease over time, and the coin will become almost useless before it’s all bought back.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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