in Binance (BNB)
Cryptocurrency exchange tokens have been very cleverly designed to offer maximum utility. That’s certainly the case with Binance’s BNB coin, prompting us to provide a full review of how to buy BNB and where to buy BNB coin.
What is BNB and why buy BNB coins?
The BNB token is the native digital currency of the Binance platform. Much of its utility is based on use of the Binance exchange. For example, if you pay fees in BNB coin, then Binance gives you a 25% discount on all spot and margin trading fees.
A similar incentive is offered when trading futures on Binance, with a 10% discount on fees for BNB holders. Token holders can earn yield on the coin by staking it through the BNB vault.
Binance also facilitates BNB holders when it comes to crypto loans. By holding the token, you can participate in any projects Binance launch via an Initial Exchange Offering (IEO).
That’s a whole lot of utility for anyone using the Binance platform. The strong tokenomics in the coin are driven further due to token burning. Binance has committed to taking 20% of profits generated each quarter and burning the equivalent amount of BNB coins. It’s a deflationary mechanism that curbs overall token supply, making the coin more scarce. As you would expect, that process has a positive effect on token price.
You can find more in-depth info in our BNB coin explained article.
Buy BNB with credit card
Credit and debit cards can be used to buy BNB coin on Exodus. When paying with a card, you can buy BNB coin within 49 US states and the vast majority of countries worldwide.
When using either the Exodus mobile or desktop application, all you need to do is click on the ‘Buy Crypto’ icon. That will lead to an option you can select to allow the transaction to be processed by either Ramp Network or MoonPay, Exodus’ payment partners. MoonPay is the relevant option when it comes to Maestro-based card payments while Ramp Network handles both Mastercard and Visa payments.
Buy BNB with PayPal
Nobody wants the hassle of KYCing and verifying an account. So if you have a PayPal account that you opened and verified back in the day, you’re probably thinking this makes for the point of least resistance in buying BNB. If only life was so simple!
In order to buy BNB coin with PayPal, you’ll need to open an eToro account. Once you have opened the account, to deposit funds with PayPal, select PayPal as your preferred deposit method.
Be aware that non-USD deposits via PayPal incur fees of 0.5%. PayPal also charges its own fees on top of that.
How to buy BNB coin via bank transfer
Exodus applications also provide one of the quickest ways to buy BNB via bank transfer. Once again, purchase via bank transfer is made possible due to partnerships with Ramp Network and MoonPay. If your bank account is denominated in USD, EUR or GBP, then the likelihood is that in most jurisdictions, you will be able to pay via bank transfer..
Just like with the option above that sets out how to buy BNB coin with a credit card, the bank transfer option appears once you click on the ‘Buy Crypto’ icon within the application.
Buy BNB coin via a token swap
If you’re not down with any of the previous options, then surely this one will work for you! Exodus’ token swap feature has to be the slickest way in which you add BNB coin to your portfolio.
If you already hold any of Exodus’ 230+ supported tokens, you can swap them out on the Exodus platform to BNB coin instantly. Additionally, you’re free to use Exodus' built-in exchange app, or link your Exodus wallet with the FTX exchange.
If you found your way to this article still wondering should I buy BNB coin?, then unfortunately that’s not something Exodus can help with. That said, the resources highlighted above should help you in your journey.
And of course if you do decide that BNB coin belongs in your digital asset portfolio, all the info you’ll need is right here when it comes to how to buy BNB coin. As for where to buy BNB, I’m sure you’ll agree there’s little need to look any further than Exodus!
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.