How to buy Wrapped BNB (WBNB) in the UK

Where to buy Wrapped BNB in the UK

It looks like WBNB may not be available to purchase on an exchange in the UK.

You can still purchase WBNB by using a decentralised exchange (DEX) instead. decentralised exchanges are web applications that run on blockchains like Binance Smart Chain (BSC) and allow users to trade any asset directly with one another.

How to purchase WBNB using a decentralised exchange.

1. Find WBNB on a decentralised exchange and make sure Wrapped BNB can be traded for BNB which is the native asset of Binance. The most popular DEX on Binance Smart Chain is PancakeSwap.
2. Buy BNB to trade for WBNB using an exchange like GlobalBlock. You will need to purchase enough BNB to swap for WBNB as well as BNB to pay for transaction fees (known as gas) on the BSC network, which usually costs less than a dollar.
3. Transfer the BNB into a a web 3.0 wallet like MetaMask to connect to the DEX.
4. Trade BNB for WBNB on PancakeSwap, following the instructions on screen. Make sure to leave enough BNB in your wallet to pay for gas.
5. Wait for the transaction to finalise and the WBNB tokens will arrive in your wallet.
6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the UK.

Best Wrapped BNB wallets to store your WBNB

You can keep your WBNB on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your WBNB below.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is Wrapped BNB a good investment?

Before buying a wrapped token such as wBNB, it’s important to consider its use cases and the risks involved. Here's what to consider before purchasing wBNB:

• Price: wBNB is designed to track the price of BNB tokens at a rate of 1:1. It’s important to remember that wBNB will be subject to the same level of price volatility as the Binance Coin.
• wBNB vs BNB: There are pros and cons to buying wrapped tokens. A user may get more use out of a wrapped token, but it could come at the cost of losing the security of the original.
• BNB tokenomics: As the price of wBNB is dependent on the price of the underlying asset, it's important to understand the tokenomics of BNB. Binance implements a deflationary quarterly burn of BNB coins to permanently reduce supply and increase value. The amount of BNB burned is based on Binance’s overall quarterly trading volume. Starting with an initial circulating supply of 200 million tokens, quarterly burns are set to continue until the total reduces to 100 million. To date, 30 million tokens have been destroyed.

Additional information about Wrapped BNB can be found using our WBNB analysis tools.

Today's Wrapped BNB price versus ATH

Compare today's price of Wrapped BNB ($327.62 USD) against its all-time-high price of $687.22 USD on 10 May 2021. The closer the bar is to 100%, the closer WBNB is to reaching its ATH again.

How to trade, convert or sell Wrapped BNB

You can convert or sell your WBNB with the same exchange you bought it through:

1. Sign in to the exchange you have WBNB on.
2. If you store your Wrapped BNB in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of WBNB you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Wrapped BNB.
6. Complete your transaction and move your WBNB to a wallet for storage.

Get started with crypto

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* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.