Upon an ICO’s end, new coins will be instantly listed on Binance to speed up the linking between the platform and ICOs. Moreover, Uplive, a mobile livestreaming platform, supports BNB to buy virtual gifts. Traders can choose to trade on the global Binance platform or the US trading platform, Binance.us, and a variety of other currency exchange platforms. Since being established in 2017 in China, Binance has quickly become one of the world’s leading cryptocurrency trading platforms, with a market cap of over $90 million. Dollar Cost Averaging is a strategy that is famous in the investment- and crypto-world. It’s a tactic where you purchase systematic a certain amount of a certain coin / investment you believe in.

• Make sure to be aware of fraudulent platforms and take the time to choose a legitimate exchange.
• As the native token for the Binance Smart Chain, BNB is also used for every transaction on the Binance Smart Chain.
• As always, though, be sure to research and abide by any applicable jurisdictional laws.

Withdraw your BNB to ANY Binance Coin address at ANY time, hassle-free. Binance Coin is a powerful speculative investment tool, so many customers buy and hold in the hopes of gaining massive profits. https://bnbcoin.hashnode.dev/buy-bnb-bnb-with-credit-or-debit-card In-depth information and Binance Coin price updates are always easy to find at Kriptomat. Make sure friends, family members, and colleagues use your referral link when they create Kriptomat accounts.

What is Binance Coin (BNB)?

Click the crypto icon in the tab to open a selection window. It’s vital to distinguish between the two tokens since they’re often confused. Whenever you transfer BNB into or out of the Binance Exchange, you will be prompted to select between the two versions. They are almost identical tokens, so knowing how to tell them apart is essential to avoiding costly mistakes.

You can either click on the button within the center of the page then choose an asset you want to buy. Or, you can scroll down and select the asset you want to buy by tapping it to open more information about it then click to buy on the next screen. The benefits of buying BNB through Trust Wallet are that it’s fast and more convenient. Typically, if you buy crypto from an exchange, you will need to move it to a wallet, but if you buy BNB on Trust Wallet, you do not have to send it anywhere else. The transaction will process immediately and the BNB tokens will be deposited into your wallet.

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MoonPay follows strict security measuresto ensure you have a safe Binance Coin purchase. Binance will continue this process every quarter until it destroys 100 million Binance Coins—approximately 50% of the supply. This strategy is designed to make the supply of BNB more exclusive and valuable. Each week, you’ll get a crash course on the biggest issues to make your next financial decision the right one.

Make sure to store both of these privately and securely. If Binance’s BNB holdings were to be hacked, it would likely negatively impact the price of the crypto. Similarly, BNB is used for proof-of-stake consensus on the BNB Chain, which means that the blockchain is effectively centralized.

As of September 2018 there are 95 million BNB in circulation. At the same time, the coin’s market capitalization stands at USD 915 million, with the historically highest value being just above USD 2 billion dollars. While Binance coin is closely related to the exchange it runs on, it is being traded on competing exchanges such as CoinSwitch, Lbank, and others. Most commonly, you would use a debit card to convert money from your bank account into BNB. Binance reduces trading fees by 25% for users who trade with BNB; however, this will not be the case for all platforms.

Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy, or “burn,” Binance coins held in its treasury. Using BNB on the Binance platform also gives you a discount on the trading fees. Binance plans on maintaining the token’s value by using about 20% of the company’s quarterly profit to buy back BNB tokens until only about 100 BNB remains in the market. And afterward, destroy the 100 million tokens they have bought. You can get additional utility with some of the available options listed above, such as stalking with Trust Wallet or Ledger wallets. Trust Wallet probably has the most amount of features adopted from Binance exchange, making it a solid choice for holding your BNB outside the parent trading platform.