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A good number of crypto investors are buying into the native tokens of crypto exchanges. For example, Trust Wallet’s native token, TWT, recently gained over 77% last week despite the prevailing bear market. But what are native tokens? These are coins a project creates for its users.
An NFT project, an exchange, or even a DAO can create its token for transactions within its ecosystem. Native tokens of exchanges like BNB are usually in high demand because users can use them to save on transaction and trading fees. This guide will show you how you can get BNB without stress.
Best Exchange to Buy Binance Coin (BNB):
Although several centralised and decentralised exchanges allow you to buy and sell BNB, it is best to buy from the exchange below. It has a large volume of the coin all year round:
1. Coinbase
- A large number of cryptocurrencies and trading pairs
- Beginner-friendly interface and easy purchase process
- Supports over 100 cryptocurrencies and crypto pairs
- Also offers advanced trading platforms in addition to its beginner-friendly platform
- Lower fees with Coinbase Pro
FUNDING METHODS
CRYPTOCURRENCIES
40+
COUNTRIES
100+
2. Kraken
- In all operating jurisdictions, Kraken is fully licensed and able to operate legally, including the US and UK
- Industry-leading security
- All personal information, such as Know Your Customer protocol information is securely encrypted and stored
- A large range of cryptocurrencies to choose from
FUNDING METHODS
Wire Transfer, ACH
CRYPTOCURRENCIES
20+
COUNTRIES
300+
3. Crypto.com
- Supports over 250 crypto coins
- Wide variety of payment methods
- A Short verification process for fast trading
- Relatively low fees
FUNDING METHODS
Crypto, Credit Card, Bank Transfer, Debit Card
CRYPTOCURRENCIES
200+
COUNTRIES
80+
4. Prime XBT
- It offers lower fees, maximum leverage, competitive trading conditions, and competitive trading fees
- Offers 100x leverage of up to 1:100
- Robust technical analysis tools and charting
- Trades can be executed instantly since the platform uses the latest liquidity resources
- Novel covesting feature and turbo trade
FUNDING METHODS
Crypto, Credit Card
CRYPTOCURRENCIES
7
5. Binance
- Relatively lower fees in comparison to other exchanges
- Wide range of cryptocurrencies with over 300 different assets to choose on
- Advanced trading tools for advanced traders
- Crypto-to-crypto or fiat-to-crypto trading
FUNDING METHODS
CRYPTOCURRENCIES
175+
COUNTRIES
100+
Advantages and Disadvantages of BNB
Pros
- Users can save a considerable percentage of their trading fees on Binance with BNB.
- BNB holders get special perks from Binance, like being able to join an exclusive VIP program.
- You can book hotel accommodation with BNB from a list of supported providers.
- BNB can be staked on different exchanges for a decent interest over time.
Cons
- If Binance has severe financial issues, the coin’s price could crash.
- BNB is not clearly regulated in many parts of the world and could have issues with this in the future.
How did Binance Coin (BNB) start:
Binance Coin (BNB) started as an exchange coin in 2017. It was created by Binance, owned by Changpeng Zhao, and quickly became a widely traded coin. Weeks after its launch, its price multiplied by more than 10 times. This sudden growth attracted more investors.
As millions of users flocked to Binance, the coin became important in trading and transactions on the growing exchange. Currently, the coin is the fourth largest crypto according to market capitalization.
How to buy BNB
You can buy BNB from any exchange: most exchanges list BNB, so it’s not a scarce coin. To buy BNB, you would need some crypto or cash. If you are using crypto, simply exchange your crypto for BNB using a BNB trading pair.
For example, if you want to swap your bitcoin for BNB, look for the BTC/BNB trading pair and press sell. If you prefer to use cash, deposit some money into your wallet and then proceed to buy any amount of BNB.
What can I use Binance coin to do?
Can I buy and sell BNB on other crypto exchanges?
Yes. You can buy and sell BNB on other crypto exchanges. BNB is a widely traded coin, so it is available on most exchanges, other than Binance.
Conclusion
Frequently Asked Questions
Can I buy BNB in America?
Yes, you can buy BNB in America. However, you should check if the exchange you wish to buy from has appropriate regulations before you think of buying from it. Some exchanges create a sub-exchange specifically for Americans because of the level of crypto regulation in the US. It is better to buy BNB from these sub-exchanges.