How to Buy Binance Coin (BNB): Started Guide

Are you looking to invest in the virtual currency of Binance’s crypto platform, the BNB? We will explain everything you need to know to buy and trade Binance Coin in a quick and easy way. But before that, we thought we’d do a little bit of a refresher on what the ETF is and what it does.
What is the Binance Coin (BNB)?
Before wanting to buy any cryptocurrency, here the Binance Coin, it is always good to take an interest in its usefulness as well as the ecosystem that gravitates around it. After all, it is an investment like any other. If you have strong beliefs about a project and know what you’re going to invest in, you’ll feel more comfortable.
As we suggested in the introduction, Binance Coin (ticker: BNB) is the cryptocurrency that is specific to the Binance crypto platform. It is also the official currency of the blockchain that Binance created: the Smart Chain Binance (BSC). If you are not familiar with this blockchain, know that it is basically a fork of Ethereum, less astronomical fees.
Launched in 2017, the Binance cryptocurrency platform is currently the most widely used worldwide. It is the creation of Changpeng Zhao (CEO) and He Yi. Its rapid evolution in recent years has propelled its virtual currency, the Binance Coin, among the largest market capitalizations in the crypto ecosystem
But what is the purpose of the BNB (Binance Coin) exactly? What is it possible to do with it? Unlike many other cryptocurrencies, the BNB has the advantage of having a lot of use cases.

To prove it, we’ve put together the main things you can do with:
• Take advantage of a discount on Binance trading fees
• Save your ETNs to generate interest
• Participate in new crypto project launches (via Binance Launchpad)
• Access exclusive trading pairs (while reducing fees)
• Get a more or less substantial cashback on your Visa Binance card (you can get up to 8% cashback depending on how many BNB tokens you have)
• Buy NFT on the Binance marketplace
• Pay for your travel on partner sites (while getting an exclusive discount).
As you can see, it’s possible to do a lot with your ETNs on Binance.
How many tokens are currently in circulation? This number is constantly changing. Basically, the maximum number of tokens in circulation was 200 million.
But why is the total number of BNB tokens constantly changing? Because every quarter, Binance buys back a certain number of them before removing them from circulation. This is called a “token burn”. The number of ETF tokens that are withdrawn from circulation at the end of each quarter is determined by the results of Binance. Binance uses 1/5 of its income to buy back Binance Coins and “destroy them”.
Where to buy Binance Coin?
Now that you have more information about the crypto BNB, we’ll be able to explain how to buy and/or trade Binance Coin.
The first question to be asked at this level is which platform should be preferred? If you just want to bet on the evolution of the Binance Coin price, then for us the best solution is to opt for eToro. This platform has the advantage of being simple to use, while offering all the features necessary for trading crypto-assets. If you want a complete overview at this level, you can.
You will see that the interfaces are pleasant and easy to understand. Even if you’ve never bought
a cryptocurrency, you’ll get away with it. It is even possible to download the eToro app on iOS and Android in order to trade the NBB but also many other assets.
If eToro has our favors, it is also because it is one of the only crypto platforms that is regulated in Europe. On the contrary, Binance (which also allows you to buy Binance Coin) is not.
eToro is a company located in Cyprus. It is therefore regulated by the competent authority on the spot, CySEC. This does not stop there since the eToro online broker is registered with the ACPR, an entity of the Bank of France. For you, an investor, this will provide you with better protection and a real legal framework. If you opt for an unregulated platform, you will not be safe from a huge disappointment. Because eToro is regulated in Europe, it will be possible to benefit from the Deposit Guarantee and Resolution Fund. Also known as FGDR, it can be protected up to €100,000 in the event of failure of the banking institution with which eToro works. We are not going to hide it, you will probably never need it because eToro is a reliable broker. Now it’s always good to have extra protection, just in case.
It’s also good to note that you won’t actually be able to buy Binance Coin with eToro. Indeed, the specificity of the platform is that it uses contracts on difference (CFD)

The evolution of the exchange rate of the BNB will be the same as if you owned the cryptocurrency, be reassured. However, this gives you more security (since you won’t have to worry about securing your assets), simplicity, but also the possibility of applying leverage.
In terms of leverage, we would advise you to use it sparingly. If you don’t know what it is, it is a function that allows you to “boost” the revenues generated by a trade (for example, 2) without depositing more funds. Now if the trade goes bad, your losses will also grow twice as fast.
What else should I know about eToro before trading ETNs on its platform? That there are no hidden fees. You will be clearly notified of the fees that will be taken for each transaction performed. Speaking of which, it is worth noting that eToro supports a lot of deposit methods: bank card, wire transfer, PayPal (unlike Binance), Neteller, or Skrill.
In addition to offering more than thirty different cryptocurrencies (it is possible to buy Bitcoin with PayPal if you wish), eToro allows investing in other asset classes: equities, commodities, or ETF.
NBB Trader: Step-by-Step Tutorial
Finally, it’s time to explain how to buy CFD on the Binance Coin via the eToro platform. You will see that the steps to follow are extremely simple. No matter your knowledge and level of experience in the crypto investment field, you’ll get away with it.
1 – Open an eToro account
To start, you will need to create an account on the eToro platform. You can click on the button below to be redirected to its official website. From there you can click on the “Join Now” button or “Buy Cryptocurrencies”
In both cases you will be redirected to the form to open an eToro account. At this point, you will need to enter a username (which will be visible to all other investors on eToro), an email address and a password. You can also create an account using a Facebook or Google account. Finally accept the Terms of Use and click the “Create Account” button.
2 – Verify your account
After opening your eToro account, you will be redirected to the platform’s home panel. In order to determine your investor profile (and customize the assets that need to be showcased for you), eToro will ask you a few questions. Answer them directly or later if you prefer. However, the step that should not be missed is verifying your identity. eToro must verify your identity, it is an obligation that the platform has vis-à-vis regulators, as much as a bank or an online broker. If you do not have your account verified, it will be limited in terms of deposits but also withdrawals. To have your eToro account verified, the process is very simple. Simply send two documents: a proof of address of less than 6 months as well as a copy of your ID.
3 - Deposit Funds
You will soon be able to buy CFD on the Binance Coin (ticker: BNB). But first, you need to have funds available in your eToro account. What are the methods supported by eToro for deposits? The choice is vast: bank card, SEPA transfer, PayPal (yes you will indeed be able to trade BNB with your PayPal funds), Neteller, as well as Skrill To deposit from eToro, it will be enough to select the amount to deposit, the means of payment, and details of the deposit method you have chosen.
The time it takes to get your funds into your eToro account will depend on the method chosen. If you want to invest quickly on the Binance Coin (BNB), it is better to deposit by card or PayPal. Via transfer, it will take a little more time unless your bank offers instant transfer
4 - Buy Binance Coin (BNB)
Here you are at the last step of our tutorial: the passage of a purchase order for the Binance Coin. From the home page of your eToro account, simply go to the “Search” section (1 – in the menu on the left). In the search bar, type “BNB” or “Binance Coin”. You will see the crypto appear on the screen. All you have to do is click on the “Invest” button: A window will appear in the middle of your browser. It is the interface that will allow you to place a purchase order (see screenshot below). At the top right of this interface you will have two choices: the “Invest” option and the “Order” option.
If we can afford advice, opt for the “Order” option (which corresponds to the passage of a limited-price purchase order). Conversely, we would like to clarify that the “Invest” option corresponds to the purchase of ETNs at market price.
Moving from a limit order will allow you to avoid the volatility of the cryptocurrency market. You will indeed be able to set a maximum price not to exceed, something that is not possible to do by placing an order at the market price.
Determine the maximum price at which you want to trade the Binance Coin (“Rate” line), then enter the amount you want to invest in this asset. After all that, all you have to do is click on the “Place an order” button to validate the set. eToro will then send you a message confirming the execution of your purchase order. If you don’t see anything happening, you can check the status of your order from your eToro portfolio.
Do you really want to buy and own Binance Coin (ticker: BNB) to take advantage of the various advantages they offer? This is perfectly understandable. And to carry out this mission, there is no secret: you will have to open an account on Binance. We tell you more afterwards
How to buy BNB on Binance?
As said just above, if you want to enjoy all the advantages offered by the BNB token, you will have to buy Binance Coin live on Binance.
The first thing to do (if you haven’t already) is to open an account on Binance. It won’t take you more than a few minutes. Just like at eToro, note that you will need to verify your identity.
After that, Binance will offer you several possibilities to buy Binance Coin (ticker: BNB). We will cover the two main ones as part of this tutorial:
• Online purchase by credit card
• Trading with pre-deposited funds
If you don’t want to bother, the fastest way to buy ETNs is through the credit card option. You will find it by clicking on “Buy Cryptos” then “Credit/Debit Card” in the main menu of the Binance site
From the interface you can see above, you will be able to select the currency to use as well as the crypto you want to buy (BNB). Once these two variables are chosen, you will only have to fill in the amount to invest.
Note that by buying Binance Coin Live by credit card, the purchase price will be slightly higher than the market price. This is the disadvantage of this method.
To overcome this drawback, you can use the trading interface provided by Binance. It’s a little more complicated to buy and trade Binance Coin via this one but at least you can get the purchase price you want.
To access the Binance trading interface, hover your mouse over the “Trader” menu (1) and then click “Markets” (2).
Binance will take you to the set of trading pairs it supports. Search for “ETF” and then select the trading pair that may be right for you. If you have deposited euros in your Binance account, you should logically opt for the BNB/EUR pair. Finally, click “Trader” to the right of the corresponding line.
After that you will have access to the interface below. From there you will be able to view the price of the ETF, the orders, and especially place a purchase or sale order concerning the asset.
We offer the same advice as in our tutorial for trading ETNs on eToro: opt for a limited-price order.
Select the price not to exceed, the amount in euros or Binance Coin that you want to obtain, and then click the “Buy ETF” button.
And now you know how to trade the crypto specific to the Binance platform. To resell your ETNs, all you have to do is enter the desired amount in the column corresponding to the sale (above the red “Sell ETF” button). It’s as simple as that.
It is also good to note that since Binance, with your Binance Coin, you will be able to participate in the launch of new cryptocurrencies (via the function of Launchpad) or even staker them in order to generate significant interests... and earn even more BNB tokens.