Where & How to Buy Binance Coin (BNB) in 2024 Best Places

After researching numerous cryptocurrency exchanges, we’ve compiled a helpful guide on where and how to buy Binance Coin (BNB).

Start by comparing the exchanges on our list of the best crypto exchanges.

When you decide on the best one, create an account and verify your identity. Deposit funds and look for a BNB trading pair.

Our guide below provides step-by-step instructions and recommendations to streamline your purchasing process.

Key Takeaways

• BNB is the native cryptocurrency of Binance
• Buying BNB on a centralized exchange is the best way to invest
• Crypto wallets, DEXs, and P2P platforms are the top places to buy BNB
• You can also buy BNB with debit/credit cards or PayPal
• BNB has built-in utility right within the Binance ecosystem

How to Buy Binance Coin – Step by Step

The best way to purchase BNB is through a centralized cryptocurrency exchange (CEX). CEXs offer various trading options, support different payment methods, and offer a secure place to buy crypto.

Follow the steps below for detailed guidance on how to buy Binance Coin.

• Step 1: Select a Crypto Exchange
• Step 2: Create an Account
• Step 3: Deposit Funds
• Step 4: Check the Payment Details and Fees
• Step 5: Make Your Purchase
• Step 6: Store and Secure BNB

Step 1: Select a Crypto Exchange

When selecting a crypto exchange, compare factors such as security, user experience, fees, and support assets.

The safest crypto exchanges use SSL, enforce ID verification, and follow Anti-Money Laundering procedures.

With safe exchanges, you’ll have the option to set two-factor authentication and you’ll pass several steps before each login.

When it comes to user experience, you can pick between a simple exchange and a feature-rich platform.

Check out our Coinbase or Kraken reviews for an example of intuitive exchanges, and read our KuCoin review to see why users think KuCoin is a bit more complex.

In general, complex exchanges offer a variety of trading tools, web3 features, lending tools, or staking options.

In comparison, intuitive exchanges offer simplified features like an instant buy option, geared toward novice investors.

Crypto exchanges also have different fees, which further vary for different deposit and withdrawal methods. Most will also charge a small fee for every completed order.

Finally, you might notice that not all exchanges support the same number of cryptos, including BNB. Explore platforms listed in our list to see where this coin is supported.

Step 2: Create an Account

Sign up on your chosen platform by entering the required information.

Then, the system will prompt you to complete the Know Your Customer (KYC) verification process. 

This measure improves trading, security, and compliance. Almost all secure, established exchanges require this procedure from their users.

For this, you’ll need your smartphone, government-issued ID, and alternatively, proof of address (bank statement or a utility bill).

Start by scanning the QR code and follow the instructions on your phone to take a selfie and submit the proper documents.
Verification often lasts several minutes but might last longer, depending on how the exchange checks your info.
Luckily, after you finish the verification, you’ll have all trading options opened and all deposit/withdrawal limits lifted.

Step 3: Deposit Funds

To fund your account, choose a deposit method supported by the crypto exchange you’ll use, like bank transfers or credit cards.

Following this, input the deposit amount, then confirm.

Take note that some methods are immediate, while others may need lengthy confirmation. This mainly depends on the deposit method.

Step 4: Check the Payment Details and Fees

Before you click the confirmation button, check out the fees. The fees are noted next to the payment details and are different for each exchange and payment method.

For example, connecting your credit or debit card to your cryptocurrency account offers benefits such as enabling instant or recurring purchases.

However, keep in mind that credit cards may incur an extra charge.

Typically, transferring funds from your domestic bank accounts is cost-free. Yet, it’s advisable to confirm this with your financial institution.

Finally, BNB can be swapped for other digital assets, with trading pairs differing across exchanges.

With this in mind, you can transfer other crypto to exchange for BNB.

Step 5: Make Your Purchase

There are various options to buy BNB Coin.

You can place a market order to instantly acquire your desired quantity of BNB at the current market price.

Alternatively, you can use a limit order. It will execute only when the price hits your chosen limit.

Finally, you have the instant buy option. It’s a section of the exchange where you can immediately swap your fiat or crypto for BNB.

Once you start the process, you’ll likely have to confirm your order within several minutes so you will buy BNB at the specified price.

After this period, the platform will adjust your order according to the current market rate, and reset the purchase to the beginning.

This feature will immediately deduct your current holdings and get BNB to your wallet on the exchange.

Step 6: Store and Secure BNB

After purchase, save your BNB in your crypto wallet on the platform or move it to a personal wallet.

Ensure that you have taken the required security precautions to safeguard your BNB holdings.

This may involve turning on two-factor authentication (2FA) on your exchange account and being wary of phishing emails and links.

If you’re using a personal wallet, always know where your private keys are written.
Regularly update software on your devices, don’t share information about your investments with others, and diversify your BNB holdings to several wallets.

Where to Buy BNB – Best Places

There are numerous ways to acquire BNB Coin, each catering to specific preferences and needs.

If you’re wondering where to buy BNB besides Binance, you can choose from crypto wallets, ATMs, or peer-to-peer platforms.

Meanwhile, decentralized exchanges prioritize privacy, and centralized crypto exchanges offer ease and variety.

Here’s a list of all the places where you can buy BNB:

• Centralized crypto exchanges
• Crypto wallets
• Peer-to-peer (P2P) platforms
• Cryptocurrency ATMs
• Over-the-counter (OTC) desks
• Cryptocurrency forums and social media groups
• Decentralized exchanges (DEXs)
• Crypto-to-crypto swap services

Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.

1. Centralized Crypto Exchanges – Recommended Method

Centralized cryptocurrency exchanges (CEXs) act as an intermediary between buyers and sellers.

These platforms let you buy and sell digital assets at the current market price (called spot trading).

Crypto exchanges also execute orders when the asset reaches a set price (called limit orders).

CEXs use an order book system, grouping buy and sell orders by their prices. Then, their matching engine matches buyers and sellers based on the best price available for the specified quantity.

As a result, supply and demand set the price of a digital asset. This happens relative to other assets, like fiat currencies or other cryptocurrencies.

2. Crypto Wallets

Crypto wallets serve as secure digital storage for cryptocurrencies, ensuring accessibility while safeguarding your digital coins.

Certain wallets provide the convenience of purchasing BNB directly within the platform.

There are a few types to choose from:

• Hosted (custodial) wallets
• Non-custodial wallets
• Hardware wallets

Hosted wallets are like online bank accounts. These are software wallets, usually connected to an exchange or a mobile app. Some of the examples include Gemini and Bitstamp.

Non-custodial wallets give you full control over your keys for more security. These can be software (Crypto.com) or hardware wallets (Ledger). Some of these also double as the best crypto savings platforms and lending accounts.

Finally, hardware wallets store your crypto offline for extra protection.

They come in the form of a USB which you connect to the Internet only when you’re about to make a transaction.

To buy a Binance Coin, you’ll need a BNB-supporting wallet. Then, fund it with another cryptocurrency.

Next, use its built-in features to exchange for BNB. Afterward, confirm the transaction and secure your BNB by backing up your wallet data and enabling security measures (2FA or strong password).

3. Peer-to-Peer (P2P) Platforms

In a peer-to-peer (P2P) exchange, you can trade directly with others, skipping intermediaries.

What makes P2P exchanges stand out is their lack of a central authority. Instead, you interact directly with other traders with the help of escrow, making the process easy and direct.

You’ll find all sorts of transactions on P2P exchanges. These range from swapping different cryptocurrencies to buying and selling crypto with fiat.

Moreover, P2P platforms are a convenient option for you to start trading cryptocurrencies with your own money. They provide accessibility and flexibility for traders of all skill levels.

4. Cryptocurrency ATMs

A cryptocurrency ATM is an internet-connected kiosk. It lets you buy digital currencies with deposited cash.

Crypto ATMs are different from traditional ATMs in banks, which handle physical withdrawals or deposits.

Instead, crypto ATMs work with blockchain technology by transferring cryptocurrencies to your digital wallet using QR codes.

These crypto kiosks might ask for your phone number to send a text code. Or, they may require you to scan an ID, like a driver’s license.

To buy a Binance Coin at a crypto ATM, find one that supports it. Then, ensure you have a BNB-compatible wallet.

Next, select “buy BNB” and enter the amount and wallet address. Pay with cash or card, confirm the transaction, and wait for your tokens.

In case you live near an ATM that doesn’t support BNB, you can buy another supported currency, and then swap it for BNB on an exchange or a wallet.

5. Over-the-Counter (OTC) Desks

Over-the-counter (OTC) trading desks allow parties to trade privately without disclosing information to the public. 

These desks prearrange prices and pair up buyers and sellers for large-scale transactions.

Trades may involve crypto-to-crypto or fiat-to-crypto transactions.

There are two types:

1. Principal
2. Agency

Principal desks use their funds to acquire desired assets, taking over buyer risk.

For example, when a big crypto investor wants to make a large buy and asks the desk for a quote, the desk reacts based on the market condition.

Then, the desk delivers the asset following the contract. Now it’s up to the buyer to accept.

Meanwhile, agency desks facilitate deals for buyers without using their funds. They do this by acting as middlemen and collecting fees, without taking market risk.

6. Cryptocurrency Forums and Social Media Groups

Cryptocurrency forums and social media groups are online places where people talk about digital money.

These are spots where anyone can join to talk about digital assets such as Binance Coin.

Here, you’ll find all kinds of investors. They share tips, rumors, and dreams about succeeding in the crypto industry.

But, be careful who you trust because it is also full of scammers looking for newbies to trick.

To buy BNB from these unregulated online hubs, join reliable groups and confirm your identity if required. 

Then, find a trusted seller, negotiate terms, conduct the transaction securely, and keep detailed records.

Utilizing escrow services can bolster your security.

Still, remain vigilant – legitimate platforms will never ask for your private keys or personal information. Sharing these can expose you to online threats, loss of funds, or stolen identity.

7. Decentralized Exchanges (DEXs)

Decentralized exchanges (DEXs) are digital marketplaces where you can trade cryptocurrencies directly with other traders, bypassing intermediaries.

Instead of traditional institutions, DEXs rely on blockchain-based smart contracts to assure secure and fair transactions.

These platforms play an important role in decentralized finance (DeFi), acting as the foundation for the development of complex financial services.

Furthermore, DEXs provide transparency into how funds move and how transactions occur.

They remove the risk of dealing with another party by managing user funds directly during trades. This decreases the dangers of too much control being in one place in the cryptocurrency ecosystem.

In essence, DEXs give you direct control over your assets.

8. Crypto-to-Crypto Swap Services

Crypto-to-crypto swap services let you trade one type of cryptocurrency for another smoothly. These can operate on both CEXs and DEXs and work great for ideal for cross-chain trading.

When you use these platforms, you put your digital assets into the service’s wallet. Then, let them know what type and how many tokens you want in return.

The platform then finds another user who wants to make the opposite trade and matches you up.

Once matched, the platform makes the swap and sends the cryptocurrency you want to your wallet.

Remember that these services usually charge a fee for their ease of use. The fee can change depending on how much you trade and which platform you use.

Overall, cryptocurrency swapping services give you an easy way to spread out your crypto investments or get BNB.

Alternative Ways to Buy BNB

Exploring where to buy Binance Coin alternatively is a wise move. That way, you can discover simple buying methods that fit your investing needs.

You can consider:

• PayPal
• Telegram
• Credit/Debit Card

PayPal

If you want to know how to buy BNB in the US easily, PayPal offers a quick alternative.

While you can’t purchase BNB directly within the app, you can buy Bitcoin or another crypto. Then, you’ll exchange that for BNB on the exchange.

To buy Bitcoin through PayPal’s website, first, make sure you have a verified PayPal account.

Then, go to the “Crypto” section. Pick BTC or another crypto from the available cryptocurrencies, enter the amount you want to buy, and confirm the purchase.

Alternatively, on the PayPal app, find the “Crypto” tab. Select the crypto you want, input the quantity you wish to purchase, and proceed after confirming your payment method.

Once you get the desired crypto in your wallet, send it to an exchange. There, pick a trading pair or use the instant buy option to get BNB.

Telegram

Aside from PayPal, you can also purchase BNB through Telegram.

Start by joining a good BNB trading group or channel on the platform. Make sure it has a good reputation and active members.

Then, find reliable sellers in the group. Check their trustworthiness by reading reviews or feedback from other users.

After that, discuss the transaction details. Specify how much BNB you want and how you’ll pay.

Next, send the agreed amount to the seller’s chosen wallet address.

Once they confirm getting your payment, they’ll quickly send the matching amount of BNB to your wallet.

Telegram groups also come with trading bots you can utilize to purchase BNB. Each of these bots is different, but you can read the instructions before starting the purchase process.

Credit/Debit Card

Another alternative way to buy BNB in the US is through a credit/debit card you’ll connect to the crypto exchange.

This streamlines the process if you’re seeking immediate access to BNB coins without the complexities of traditional banking transactions.

First, ensure that platforms offering BNB purchases accept your card.

When you’re on the platform, look for the option to buy cryptocurrencies with a card. Then, choose BNB from the available options.

Input the amount of BNB you want to purchase and proceed to the payment section.

Afterward, enter your card details, including the card number, expiration date, and CVV code.

Lastly, verify the transaction details and confirm your purchase.

Once the verification finishes, the platform will transfer your purchased BNB to the linked wallet.

How to Store BNB

Securing your BNB is crucial since it is at risk from cyber threats. Utilize both hot and cold crypto wallets to enhance your security measures.

Hot Wallets

Hot wallets connect online and are ideal for swift transactions. However, they carry a degree of risk due to their constant connectivity.

That’s why they require strong security measures.

Select a reliable wallet provider, establish a unique password, and enable 2FA.

Make several copies of your private keys and write them down on a piece of paper that you’ll store safely.

Backup the wallet offline, and let it update when necessary (if it’s a mobile app).

Cold Wallets

Cold wallets store cryptocurrency offline, boosting security against hacking.

Your holdings will typically be stored on hardware like USB drives.

Operating offline reduces exposure to cyber threats, enhancing asset protection. You’ll only connect to the internet when you decide to make a transaction.

To keep it safe, regularly update backup copies.

Why Should You Buy BNB? What is it Good For?

Thinking about buying BNB? Well, there are plenty of good reasons to consider it.

First off, BNB is the native cryptocurrency of Binance, one of the biggest and most trusted crypto exchanges out there. That means it’s got built-in utility right within the Binance ecosystem.

You can use the Binance coin to pay trading fees and get attractive discounts.

Binance conducts quarterly burns of BNB, where a portion of the coin supply is permanently removed. This deflationary mechanism can potentially increase the value of BNB over time by reducing the overall supply.

Plus, Binance keeps coming up with new ways to use BNB, such as staking, lending, and loans. This provides a way to earn passive income on your BNB holdings.

But it doesn’t stop there.

BNB is spreading beyond Binance and finding its way into different industries like gaming and even real-world businesses.

It is a solid choice for investors who are looking for something with both utility and growth potential.

Plus, it’s got some tech perks too, such as fast transactions and low fees, thanks to its blockchain.

Those who wish to participate in Binance Launch (a platform for launching new cryptocurrency projects) need to hold a certain amount of BNB.

BNB holders often get priority access to these token sales, allowing them to invest early in potentially promising projects.

This is why BNB could be a smart addition to your portfolio.

It possesses that winning combo of usefulness, reliability, and room to grow that makes it worth considering.

However, keep in mind that, like other cryptos, BNB is also highly volatile and you don’t have guaranteed ROI if you invest.

Why Trust Us?

With lots of experience, the team at CryptoManiaks has explored how to buy BNB, leaving no stone unturned.

Our understanding comes from real-world involvement and continuous research.

Besides, our recommendations are based on careful analysis.

Wondering where to buy BNB coin? Look no further. We invest in BNB ourselves, aligning our interests with yours.

Our experts have extensively tested every platform and method that we recommend.

Openness and clarity are a must for us since we believe in simple, honest communication.

The goal? To give you the information needed to confidently navigate the world of BNB.

Frequently Asked Questions

1. 01.

   Can I Buy BNB Coin With Fiat Currency or Only With Other Cryptocurrencies?

   

   If you prefer using fiat currency, you can hop onto popular crypto exchanges that allow direct transactions between your local currency and BNB. If you’re already holding cryptocurrencies like Bitcoin or Ethereum, you’re in luck too. Just find a trustworthy exchange that supports BNB trading pairs, deposit your Bitcoin or Ethereum, and then trade them for BNB at the current market rate.

2. 02.

   Can I Buy Fractions of a BNB Coin or Do I Have to Buy Whole Coins?

   

   Yes! BNB is divisible up to eight decimal places, which means you can buy as little as 0.00000001 BNB (1 Jagеr) if you want. This feature gives you flexibility and makes it accessible to invest in BNB no matter your budget. So, whether you want a whole coin or just a fraction, you’re good to go!

3. 03.

   Who Can I Contact for Customer Support While Buying BNB Coin?

   

   If you’re buying BNB coin, it’s a good idea to reach out to Binance’s official customer support team for any help you need. They’re around 24/7 and you can get in touch with them through live chat, email, or phone. You can email them at [email protected] or give them a call at (844) 900-1450. To chat live, just log in to the Binance website or mobile app. You’ll find the chat bubble in the bottom right corner. Or in the app, go to PROFILE, then Help & Support, and finally Chat.

4. 04.

   What Documents Do I Need to Provide to Buy BNB Coin?

   

   You’ll need a valid government ID like a passport or driver’s license. Crypto platforms might also ask for proof of where you live, like a recent utility bill or bank statement. Sometimes, they might even want a selfie with your ID to double-check everything. It’s a good idea to check what the specific requirements are for the platform or exchange you’re using to make things go smoothly.

5. 05.

   Where Can I See the Current Price of BNB Coin?

   

   To check the current price of BNB coin, visit the official Binance website and go to the “Markets” section. You’ll find a list of available cryptocurrencies, including BNB. Click on BNB to access its dedicated page with real-time price data, historical charts, and trading volume. Binance also offers a mobile app for easy access to BNB prices and market trends.