How to Buy Binance Coin in the UK
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The Binance Coin (short: BNB) is the in-house cryptocurrency of the Chinese platform Binance.
There are now 200 million Binance Coin tokens. They can be bought on the platform or exchanged for other cryptocurrencies.
The advantage is therefore clearly in the trading costs. If you follow the information of the crypto exchange Binance, there is a price reduction of 50 per cent in the first year - in the second year it is 25 per cent and in the third year 12.5 per cent.
Even in the fourth year, there is a discount of 6.75 percent.
But with one or the other crypto broker, there are excellent alternatives available, which for their part can present strong arguments. You can buy the Binance Coin directly or short it with derivatives.
Another aspect that should not be ignored: In the past, BNB has repeatedly attracted attention with price increases.
However, anyone who wants to purchase a Binance Coin (or several Coins) does not need a Binance account in advance.
Because the purchase of the Binance Coin is also possible on other platforms, such as our test winner broker eToro!
Even if you are interested in another cryptocurrency, it is worth considering setting up an account on this platform. Finally, the eToro platform is one of the largest exchange platforms in the world.
Where to buy Binance Coin cheap? Our broker and exchange comparison - buy Binance Coin with the lowest fees:
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1.Trade real cryptos and crypto CFDs |
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1. fully regulated broker |
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1. User-friendly platform |
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1. many tradable assets |
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1. huge selection of coins |
What is Binance Coin - Binance Coin explained:
Behind the Binance Coin is the platform of the same name, Binance. The name says it all, because it is made up of the terms "binary" and "finance" - meaning "binary" and "finance".
Thus, the trading platform wants to make it clear right from the start that it is only possible to trade cryptocurrencies with each other here - fiat currencies are therefore excluded.
At the beginning, Binance concentrated only on China - a good decision. After all, today the Binance Coin has become one of the most important cryptocurrencies in the world - currently the market capitalisation is over 47 billion euros.
The technical aspect
In total, there are 200 million coins based on ERC 20 tokens, the Ethereum standard. The ICO sold 50 per cent of the coins, 40 per cent went to the team and 10 per cent to investors.
Buy Binance Coin with Paypal
Currently, not many platforms offer the possibility to buy BNB tokens with PayPal. Even binance.com itself does not offer this option.
Depositing with our test winner broker eToro is extremely easy: a click on the "Send" button takes the user directly to the secure PayPal page for depositing.
The email address and the payment recipient are taken over directly, so that the amount only needs to be confirmed.
After the deposit, you can usually select from which balance or account PayPal should collect the money.
Buying Binance Coin Fees & Costs
The use of eToro is in principle free of charge for end customers, but of course there are fees when buying Binance Coin via eToro.
In the following example we try to compare eToro's fees with two other well-known crypto brokers: Coinbase & Plus500.
As you can see, eToro is the best choice to buy Binance Coin.
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Provider |
etoro |
coinbase |
Plus500 |
|---|---|---|---|
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Deposit |
free of charge |
3,99% |
free of charge |
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Purchase fees |
1,9% |
1,49% |
3,08% |
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Holding fees |
free of charge |
free of charge |
0,05% |
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Sales charges |
1,9% |
1,49% |
3,08% |
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Payment |
5 USD |
0,15 USD |
1,9% |
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Total fees |
42,20€ |
68,24€ |
92,32€ |
Trade Bitcoin against Binance Coins
Register on the platform
If you want to trade Binance Coin with other cryptocurrencies, the first step is to register on the platform. If you already have an account, you do not have to enter all the data that was requested in the course of registration - i.e. after clicking on the link that was sent by email.
After registration, click on "Markets". Then click on the desired "trading pair".
In our example we use Bitcoin: An exchange is only possible if the coins are already on eToro or in the eToro Wallet.
Swap Bitcoin for Binance Coins
The exchange is done within minutes. If you want to exchange your Bitcoin holdings for Binance Coins, for example, you can specify in advance what proportion of the exchange should take place - for example 25 percent, 50 percent, 75 percent or even 100 percent.
If you want to exchange BNB for Bitcoin, you then click on "Buy BNB" and confirm the transaction. The total costs are then displayed - in this case in bitcoin.
Broker and exchange in one: eToro
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
How to sell Binance Coin again: Our guide to eToro
As a rule, the Binance Coin is exchangeable for various fiat currencies on the eToro platform.
This means that traders can also sell the Binance Coin against other currencies (USD, Euro, Yen, etc.) - this option is available under the "Exchange" section.
Buy Binance Coin Conclusion - Our experience and recommendation:
If you want to buy Binance Coins, you should first take a look at the company behind Binance to understand how the Binance Coin works in the first place.
After all, the Chinese provider brought Binance into being in the first place.
At this point, however, it must be said that Binance itself is not the best platform to buy Binance Coins.
If you want to exchange euros for Binance Coins, it is advisable to do so via our test winner eToro.
FAQ
In November 2017, the price of the Binance Coin was 0.11 euros; on 6 January 2018, the cryptocurrency reached an all-time high of 20.26 euros. However, the Binance Coin also suffered a crash - at the beginning of February, the cryptocurrency was trading at 3.73 euros. Currently, the price is around 300 euros - the market capitalisation is over 1.1 billion euros.
If you want to invest in Binance Coins, you can choose the Binance platform or our recommended test winner.
Options brokers only use the crypto currencies as assets, while exchanges enable direct trading of the assets.
So anyone who actually wants to buy Binance will have to go via the Binance exchange directly.
The exchange of fiat currencies against Binance Coins is possible via our test winner - only cryptocurrencies can be traded via Binance. A deposit on Binance is therefore always made via cryptocurrency.
Yes, Binance offers a 50 per cent discount in the first year. In the second year the discount is 25 percent, in the third year the discount is 12.5 percent and in the fourth year it is 6.75 percent.
Yes, there is an extensive knowledgebase and a ticket system for registered users.
Only if you really want to get the coin into your own portfolio. You can also trade via the broker Binance without a BNB wallet.
Binance itself creates a separate wallet for all customers and keeps most coins in cold storage. However, there are other online wallets, paper wallets and hardware wallets that are suitable for managing, sending and receiving Binance.