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

Learn how Binance Coin (BNB) coin works, as well as where to trade it.

Promoted

eToro Cryptocurrency Trading

eToro Cryptocurrency Trading logo
  • Buy Bitcoin and 18 other cryptocurrencies
  • Copy top-performing traders
  • Disclaimer: Virtual currencies are highly volatile. Your capital is at risk
Go to site

Binance Coin (BNB) is the native token of the Binance exchange and Binance Smart Chain (BSC) blockchain. Thanks to the success of both these platforms, BNB has risen to become one of the most valuable cryptocurrencies on the market – here’s our guide on how to buy Binance Coin.

Warning: Binance offers cryptocurrency derivatives, which the regulator banned from sale to UK consumers in January 2021

1. Compare crypto exchanges

You can buy Binance Coin (BNB) from a wide range of cryptocurrency exchanges. Compare exchanges on features such as fees, payment methods and currencies.

2. Create an account

To create an account on an exchange you’ll need to verify your email address and identity. Have some photo ID and your phone ready.

3. Make a deposit

Once verified, you can deposit GBP using the payment method that best suits you – bank transfer, PayID, POLi and credit cards are all widely accepted.

4. Buy Binance Coin (BNB)

You can now buy BNB. On user-friendly exchanges this is as simple as entering the amount you want and clicking “buy.” If you like you can now withdraw your BNB to a crypto wallet.

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)

Sign up for one of the following exchanges to buy BNB, then deposit funds to start trading.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
eToro Cryptocurrency Trading
Credit card, Debit card, Neteller, PayPal, Wire transfer, Online banking
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

27
cryptocurrencies

Cryptocurrency warning: Cryptoasset investing is unregulated in the UK. There’s no consumer protection. Your capital is at risk.
Copy the trades of leading cryptocurrency investors on this unique social investment platform.
BC Bitcoin Cryptocurrency Broker
Credit card, Debit card, Faster Payments (FPS), BACS, Instant SEPA
GBP, EUR

122
cryptocurrencies

BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Neteller, Skrill
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.
loading

Compare up to 4 providers

How to buy Binance Coin (BNB)

Step 1. Register for an account with an exchange that allows you to buy BNB

The first thing you’ll need to do is search for an exchange that lists BNB or choose from our list above. Once you’ve found a suitable exchange, sign up using an email address and complete registration.

On some platforms, this is all you need to do before you can start trading. However, many exchanges require additional information, including your full name, contact details and a valid form of photo ID, to satisfy KYC (know your customer) laws. You’ll need to provide those before you can buy any Binance Coin, and it’s also a good idea to enable two-factor authentication on your account for extra security.

Step 2. Deposit funds into your account

BNB is widely available on UK exchanges, which means you can deposit GBP to buy your BNB. Look for an exchange in the table above that offers your preferred payment method such as bank transfer, credit card, PayID or Osko.

Alternatively, you could deposit cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH) to trade for Binance Coin.

Step 3. Buy BNB

Go to the markets section on your chosen exchange, then search for the currency pairing you want, for example, GBP/BNB.

Before finalising your purchase, make sure you review the full details and total cost of the transaction.

How to sell Binance Coin (BNB)

If you want to sell your BNB, go to your exchange wallet and look for the option to “Sell BNB”. Alternatively, you might need to go to the Markets tab and sell it for another currency such as GBP or BTC by placing a trade, and setting the price you want to sell it for. However, remember that as exchanges don’t list every potential currency pairing, you might not be able to trade your BNB for the currency you want straight away.

What is Binance coin?

BNB on Binance exchange

On the Binance exchange, BNB provides users with discounts on trading fees, serves as a trading pair for coins and is used on the Binance Decentralised Exchange (DEX). Fees paid in BNB are then periodically “burnt”, which means they are permanently removed from circulation, which in turn decreases the supply theoretically increasing value. Binance will continue to burn coins until the supply is reduced from 200 million to 100 million, at the time of writing there are 170 million BNB remaining in circulation.

An image showing the stats of the 14th BNB burn

Binance completed its 14th quarterly burn at the end of 2020.

BNB is also used on the exchange to participate in launchpad events, which are similar to Initial Coin Offerings (ICO).

BNB on Binance Smart Chain (BSC)

On the Binance Smart Chain (a smart contract platform developed by Binance based on Ethereum’s codebase) BNB is used to pay gas fees and has a central role in many DeFi applications (dapps). In this way, it is very similar to the role of ETH on Ethereum.

For instance, users can deposit BNB to provide liquidity on the PancakeSwap DEX or be traded for BEP-20 tokens (The BSC version of ERC-20 tokens).

What to consider when buying Binance Coin (BNB)

  • Utility: If you’re a frequent user of of Binance then you may want to pick up some BNB to get discounts on your trading fees, as well as participate in Launchpad events or even stake BNB to earn interest.
  • Burn: BNB is a deflationary asset which means the supply will reduce over time. Deflationary assets are expected to rise in value as a result – but only if the demand is there.
  • DeFi: Binance Smart Chain (BSC) has become one of the most popular blockchains for DeFi thanks to its extremely low-fees, and compatibility with Ethereum smart contracts and dapps. If you plan to use BSC you will need some BNB to pay for gas fees as well as participate in the various DeFi services available.
  • Binance offers cryptocurrency derivatives, which the regulator banned from sale to UK consumers in January 2021.
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.

More guides on Finder

  • Ethereum (ETH) price prediction 2021

    What affects the value of Ethereum (ETH) and how might the price of ETH fluctuate in the year ahead? Find out in this comprehensive guide.

  • Axie Infinity guide: How to play and earn

    Axie Infinity is an RPG game that is currently dominating the NFT sector. Discover what Axies are, what makes them unique and how you can earn money simply by playing.

  • Crypto exchange Binance banned by the UK watchdog

    The UK financial watchdog has banned the UK arm of the world’s biggest crypto exchange, Binance, saying it must not carry out any regulated activities in the UK.

  • What is Compound Finance?

    We explore how to use Compound Finance for lending and borrowing.

  • NAGA review

    Find out what we thought of NAGA, a trading platform that lets you t trade more than 500 financial instruments and copy other people’s trades.

  • Mortgage for a pub

    Everything you need to know about taking out a mortgage to buy or refinance a pub. Find out where to get one, how to get the best deal and the factors lenders consider.

  • Mortgage for a hotel

    In-depth guide to taking out a commercial mortgage to buy or refinance a hotel. Find out how to get the best rates, factors lenders consider and what you need to apply.

  • How much deposit do I need for a commercial mortgage?

    Find out how much deposit you need if you’re taking out a commercial mortgage, including the factors lenders take into account, and how to get the best deal for you.

  • How to invest in cryptocurrency

    Learn how to get started investing in cryptocurrency, the methods available to you, and what to keep in mind before making your first purchase.

  • Metamask wallet review and guide

    All you need to know about Metamask – the browser extension digital wallet and a user-friendly bridge to the world of Ethereum decentralised applications.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site