How To Buy BNB Chain (BNB)
BNB is the official token of the Binance exchange and the Binance Smart Chain.
Step 1: Choose An Exchange Or Wallet
BNB is supported by several exchanges and wallets. For this example we will be using Trust Wallet.
Step 2: Download Or Install Trust Wallet
Use the Trust Wallet website to download or install the Trust Wallet application. Once the wallet is installed, follow the prompts to create your account and wallet address.
Step 3: Select The BNB Token Inside Trust Wallet
Once your account is created, you will be taken to the main Trust Wallet page where you can browse various cryptocurrencies. Select the BNB token here.
Step 4: Complete Your Purchase
Once you select the BNB token, select “Buy BNB” to enter the amount of BNB that you would like to purchase. Your purchase will be routed through a third party provider who may require you to complete an identity verification. Once your verification is done, your purchase will complete and your BNB will be available in your wallet.
Where To Buy BNB
BNB is one of the most popular cryptocurrencies to date, however it is not as widely available as many other cryptocurrencies. BNB can currently be purchased through crypto exchanges and wallets. We've listed a few options below.
Crypto Exchanges
4.6
Pros
- Wide range of features like crypto trading, stock trading and staking all on one platform
- Offers 8% cashback with Crypto.com's debit cards
- Available in the U.S.
Cons
- High withdrawal fees
- Have to hold $CRO for high rewards
- Sports betting on the NFL and NBA 🏈
- Crypto baskets to easily diversify your portfolio 🧺
- Stock trading straight from Crypto.com account 💲
Available globally, Crypto.com is a crypto exchange that also offers a range of products including (but not limited to)crypto debit cards, stock trading, and staking.
4.5
Pros
- Wide range of features like trading, staking, NFT marketplaces on one platform
- Lower trading fees than most exchanges
Cons
- Not available in the US
- OKX Wallet: Offers a non-custodial wallet that supports Ethereum, Solana and BNB Chain.
- OKX Earn: Fixed-term savings accounts to earn passive income on crypto holdings.
- Integrated TradingView:Professional-grade charting tools within the platform.
Available worldwide (except for the U.S.), OKX bridges the gap between centralized exchanges and the DeFi world with its multi-chain Web3 wallet.
4.3
Pros
- Earn up to 12% APY on crypto and fiat savings
- Offers credit card that gives you cashback in $BTC
Cons
- Not available in the US or Canada
- High interest rates often require staking $NEXO tokens
- Nexo Credit Card:Rewards of up to 2% in $NEXO or 0.5% in $BTC
- High-Yield Savings Accounts:Daily interest payouts with no lock-in period.
Nexo is a top choice for borrowing and lending, offering high-yield savings and instant crypto-backed loans with the convenience of its Nexo Card.
Crypto Wallets
BNB Overview
| BNB | Binance Smart Chain Ethereum ERC-20 | Changpeng “CZ” Zhao | Changpeng “CZ” Zhao Yi He Jimmy Su Patrick Hillmann | 2017 | Vertex Ventures Iron Key Black Hole Funcity Limitless Crypto Investments Fundamental Labs |
Why Does Anyone Buy BNB?
BNB is considered a blue-chip cryptocurrency among the ranks of Bitcoin, Ethereum, and Cardano. In addition to its status as a reliable store of value, BNB offers several benefits.
- It’s backed by the biggest exchange in the world: Binance
- Is the third most popular non-stablecoin cryptocurrency
- Helps power the Binance blockchain: you need to use BNB to pay gas when using the Binance blockchain, similarly to using ETH to pay gas on Ethereum.
- Provides trading fee discounts for the Binance exchange
Is BNB Being Used?
Daily trading volume for BNB: $500 million (as of 01/2023)
BNB is used to power the Binance ecosystem and the Binance Smart Chain. The token is also available as an ERC20 token on the Ethereum network. You can also use BNB to:
- Get discounted trading fees on the Binance exchange
- Pay for goods and services
- Take out loans through services like Nexo
- Settle transaction fees on the Binance Smart Chain
- Play games like Decentraland and Axie Infinity
Key Events For BNB
- December 2022: Binance Fails To List BNB On Major US Crypto Exchanges
- December 2022: BNB Chain surpasses Ethereum in unique addresses registered
- October 7th, 2022: $570 million worth of BNB token stolen by hackers
- August 2022: BNB Chain Partners Platzi, the Largest Online Learning Community in Latin America
Discover Similar Tokens
- Binance USD (BUSD): Binance USD is the stablecoin issued by Binance — the same company responsible for issuing the BNB token.
- Cronos (CRO): The CRO token is the exchange token of Crypto.com. Holding CRO provides benefits for traders on the exchange including cashback, staking rewards, and more.
- KuCoin (KCS): KuCoin is the exchange token of the KuCoin crypto exchange. Just like BNB does for Binance, KuCoin provides fee discounts and other benefits on their exchange.
- Polygon (MATIC): Polygon is a “Layer 2” blockchain that helps scale the Ethereum network; their MATIC token is used to settle transaction fees on their blockchain, similarly to how BNB is used for the Binance blockchain.
Frequently Asked Questions
The all-time highest price of BNB was $686.31. The all-time high occurred on May 10th, 2021, as a part of the broader crypto bull run during that time.
eToro allow you to purchase BNB using a debit card (not a credit card). You can also use a credit card to purchase BNB through wallets such as Trust Wallet.
You can purchase BNB in the US through exchanges such as eToro and Crypto.com. Wallet providers like Trust Wallet also support BNB purchases from US residents.
No, PayPal does not support BNB. PayPal currently only supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
While cryptocurrencies as a whole are volatile assets, BNB is considered a blue-chip cryptocurrency and is well-regarded in the crypto community. However, there is no way to know if BNB will be a good investment longterm.
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