Cryptocurrencies are now widely known around the world and have an important role to play in online transactions. There are a variety of cryptocurrencies on the market, including the Binance Coin. It’s about a electronic money created by Binance. We invite you to take an overview to better understand how to buy this electronic part.
Why invest in Binance Coin?
The Binance Coin has experienced fairly considerable growth since it was put into circulation by Binance, which constitutes the first cryptocurrency exchange in the world. If the Binance Coin has many advantages, the fact remains that it also involves some risks.
What are the advantages of buying Binance Coin?
There are many arguments in favor of this cryptocurrency, starting with:
- A very fast growing. It is obvious that the growth of the Binance Coin is dependent on the Binance platform. Its value will therefore increase as soon as Binance’s fame also increases, which could happen fairly quickly when we keep an eye on the various initiatives of the exchange site;
- Of low transaction costs. Indeed, the exchange of Binance Coin coins on the platform does not generate any costs;
- The flexibility of use. It is also possible to use this coin for the purchase of other cryptocurrencies. This reduces transaction costs, since other cryptocurrencies are much more expensive;
- Access to discounts. It is therefore also possible to take advantage of discounts regarding transaction fees. In addition, Binance is a reliable and easy to use site.
What are the risks of buying Binance Coin?
Buying BNB has more than just benefits. First, it should be noted that the cryptocurrency market is recent, limiting the ability to predict valuation variations. You must therefore take care to seize the most opportune moment to invest, as well as to resell your BNBs. So do not hesitate to think carefully about your investment to avoid any mishap.
There are also operational risks (transfer and conversion). When your data is not well protected, your electronic wallet becomes accessible to anyone.
On which platforms to buy Binance Coin?
To buy Binance Coin, you can go to the Binance, eToro and Coinbase platforms.
How to buy Binance Coin on eToro?
To buy Binance Coin on eToro, you must first access the site. Then, you must register on the site by entering your personal data. After that, you need to link your payment method to your account. You can use a bank card or PayPal account. After this step, you can search for your cryptocurrency and proceed with the purchase.
How to buy Binance Coin on Binance?
To buy Binance Coin on Binance, just follow certain steps. First, you have to access the site and open an online account. After this step, you must verify your identity. For this, certain personal information must be indicated such as:
- Your name and first name (s);
- Your gender;
- Your place of residence, etc.
Then you can make a deposit into your Binance account to purchase the cryptocurrency. Furthermore, if you have already bought Bitcoins, you can simply transfer them to your account and exchange them.
How to buy Binance Coin on Coinbase?
In order to buy Binance Coin on Coinbase, you naturally have to register on the site. To do this, you must click on “Register” and provide your information (surname, first name, email address, etc.).
Make sure your password is not easy to identify. You can then receive a confirmation email to validate your registration. Do not hesitate to associate your number phone to your Coinbase account.
After that, you will be brought to provide certain documents to justify your identity (identity card or driving license). Once this step is completed, you can to make a deposit and buy your cryptocurrency.
For depositing money, you can opt for a bank transfer or a credit card. The deposit being made, you can therefore buy your cryptocurrency.
What are the payment methods to buy Binance Coin?
There are several payment methods to buy Binance Coin. First, you can buy Binance Coin with Bitcoins. If you already have Bitcoins, just have them to transfer to your Binance account and to exchange. If you do not have Bitcoins, you must first invest.
It is also possible to buy Binance Coin with Ethereum. Here too, simply transfer the Ethers to your account and exchange them. Apart from this method, which consists in exchanging cryptocurrencies, it is possible to make the purchase by bank card or by transfer.
The Coin Tribune’s review on the best way to buy Binance Coin
The best way to buy Binance Coin is todirect access to the Binance platform. Indeed, on Binance, it is possible to benefit from certain advantages relating in particular to transaction costs. It is :
- 50% reduction in fees during the first year;
- 25% in the second year;
- 12.5% for the third year;
- 6.75% for the fourth year;
- No more reduction from the fifth year.
In addition, the purchasing process on the platform is done simply and so quick. Simply access the site and create an account which will then be verified by email. You can buy the Binance Coin after making a deposit. In summary, Binance Coin offers many advantages such as reducing transaction costs on the Binance platform. These fees include both exchange fees and money withdrawal fees. However, it should be noted that the cryptocurrency industry is not regulated internationally. There are risks when it comes to buying the Binance Coin, but making sure secure your account, at monitor valuation variations and to control your different transactions, you should not experience any problems.