Buying Binance Coin

Buying Binance Coin BNB from scratch

What is Binance Coin and how does it work?

What will arise from combining a cryptocurrency exchange with a cryptocurrency project?

This is the case with Binance Coin cryptocurrency. It’s a currency that was once based on the Ethereum blockchain network as ERC20 tokens. Created in parallel with the Binance exchange platform, this cryptocurrency offers remarkable benefits. Binance Coin provides the ability to incur lower transaction fees when trading cryptocurrencies on this platform. This definitely puts it at the forefront of projects with real-world applications today! Customers receive a 50% discount in the first year of using the Binance Coin cryptocurrency. Unlike with other cryptocurrencies, most investors using Binance Coin are primarily concerned with trading as cheaply as possible. With 50% cost savings, it makes sense to put money stored directly in Binance Coin.

buying binance coin

Where and how to buy Binance Coin?

Buying Binance Coin (BNB) used to be possible only on one of the world’s largest cryptocurrency exchanges, Bianance. BNB is a project created by this exchange itself, therefore it is still the main and most important place to buy it. However, one of the largest brokerage platforms in the world has also recently introduced this cryptocurrency to trading. 

To buy Binance Coin on Binance exchange, first you need to register a free account on this platform and be verified by sending documents confirming your identity. These are basically similar requirements as on any other cryptocurrency exchange. If you have already purchased Ethereum or Bitcoin, you can exchange it directly to Binance Coin. The platform also allows you to buy Binance Coin (BNB) for traditional (FIAT) currencies and even through credit cards. To make trading encrypted electronic currencies easier, a mobile application has also been created.

Binance Coin

Additional information about the Binance Coin cryptocurrency

The rise of the Binance Coin cryptocurrency.

Binance Coin (BNB) was created together with the Binance cryptocurrency exchange in 2017 as part of a social investment offer, i.e. a fundraiser. The cryptocurrency was created when Binance, the then startup, launched its first coin offering (ICO). The main purpose of Binance Coin is to take advantage of the commission reduction for operations performed on the platform. Since its inception Binance Coin has continuously attracted investors, what contributes to its growth. Today, Binance Coin is a very popular and very profitable cryptocurrency. Right now in 2021, Binance Coin is ranked on the top of best cryptocurriencies rankings.

Why was Binance Coin created?

Binance Coin is a cryptocurrency originally created to help investors trade with other cryptocurrencies on Binance. By reducing transaction fees, BNB makes purchasing other interesting cryptocurrencies or tokens even more accessible. You can buy Binance Coin to have a stock of currency to help cover some of the transaction costs. Of course, Binance Coin cryptocurrency can also be treated as an investment or speculation, as its value continues to rise for quite some time. In addition, this cryptocurrency has many other uses. Whether it is for making fees for transactions made on Binance, selling digital assets (tokens) or simply for fast or medium-term speculation, BNB is a very useful cryptocurrency.

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Summary

In conclusion, if you are interested in the most interesting cryptocurrencies, then you should consider buying Binance Coin. It is an exceptional and unique project that has been in real use for over 3 years. Its maximum quantity has been set at 176 million, and there are currently around 144 million in circulation. 

In fact, from the very beginning – with some fluctuations and declines, what is common on this market – the value of this cryptocurrency has been increasing. 

Below we present you a historical chart of the Binance Coin price and you can judge for yourself whether it is worth to be interested in buying it today, or maybe it is better to wait a bit? You have to make your own decisions, keeping in mind that investing in cryptocurrencies is very risky and can lead you to losing all or part of your wealth. This article is only a subjective opinion of the author and should not be treated by anyone as investment advice!