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How to buy Binance Coin (BNB)

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

Andrew Munro
Andrew Munro

Updated

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 decentralised Binance exchange
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 Binance Coin (BNB)

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

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Binance Cryptocurrency Exchange
Binance Cryptocurrency Exchange
Cryptocurrency
USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more

182
cryptocurrencies
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Go to site
View details
eToro Cryptocurrency Trading & CFDs
eToro Cryptocurrency Trading & CFDs
Credit card
Debit card
Neteller
PayPal
Wire transfer
Online banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

17
cryptocurrencies
Disclaimer: Volatile investment product. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform.
Go to site
View details
BC Bitcoin Cryptocurrency Broker
BC Bitcoin Cryptocurrency Broker
Bank transfer
Credit card
Debit card
Bank transfer (SEPA)
Wire transfer
GBP, EUR

97
cryptocurrencies
BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
Go to site
View details
Paybis Cryptocurrency Exchange
Paybis Cryptocurrency Exchange
AdvCash
Credit card
Debit card
Neteller
Payeer
USD, EUR, GBP, CAD, JPY

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.
Go to site
View details
CoinSwitch Cryptocurrency Exchange
CoinSwitch Cryptocurrency Exchange
Credit card
Cryptocurrency
USD

387
cryptocurrencies
CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Go to site
View details
KuCoin Cryptocurrency Exchange
KuCoin Cryptocurrency Exchange
Credit card
Cryptocurrency
Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 20+ more

206
cryptocurrencies
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Go to site
View details
Changelly Crypto-to-Crypto Exchange
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.
Go to site
View details
YoBit Cryptocurrency 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.
Go to site
View details
Bitit Cryptocurrency Marketplace
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.
View details
Gate.io Cryptocurrency Exchange
Gate.io Cryptocurrency Exchange
Cryptocurrency
-

36
cryptocurrencies
View details
IDEX Cryptocurrency Exchange
IDEX Cryptocurrency Exchange
Cryptocurrency
-

257
cryptocurrencies
A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.
View details
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
AdvCash
Cryptocurrency
Payeer
Perfect Money
USD

512
cryptocurrencies
A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
View details
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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 decentralised 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 decentralised BNB exchange.

Things to consider before buying 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 – you may decide it’s worth stocking up even at high prices, but remember that the discounts will decrease over time.

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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