How to Buy BNB in ​​2024 – A Beginner’s Guide

Since Changpeng Zhao, CZ, the former CEO of Binance, was replaced, the BNB token has returned to the spotlight within the crypto world. With a good performance in recent years, the cryptocurrency has been an excellent option for those looking for a safe alternative investment. And if you are interested in buying BNB, Binance’s cryptocurrency, this guide is for you! 

Let’s check out the step-by-step guide on how to acquire BNB safely and quickly on the Binance exchange, which issued this cryptocurrency.

How to buy BNB?

To buy BNB safely and quickly, we recommend the Binance exchange, the issuer of the cryptocurrency. 

Binance offers several ways to buy any cryptocurrency, including its own token. These include:

• Bank transfers
• Credit/Debit Cards
• Peer-to-Peer (P2P) Transactions
• Cryptocurrency deposits

In this guide, we will show you the quickest and easiest way to buy BNB on Binance using a credit or debit card. 

However, this method can be a bit more expensive, with transaction fees ranging from 4% to 10%.

Step 1: Create a Binance account.

If you are new to Binance, you need to sign up for an account by visiting the website and go through identity verification.

Step 2: Go to the purchase page.

On the Binance homepage, click “Buy Cryptocurrency” and select “Credit/Debit Card”.

Step 3: Choose transaction details.

Choose BNB as the cryptocurrency you want to buy and select the fiat currency you want to use. Then, enter the amount you want to spend in BRL or BNB and click “Continue” to set up the payment.

Step 4: Make the payment.

If this is your first time using this payment method, you will need to add your credit/debit card. Provide your card details and click “Next” to add it to your Binance account.

Step 5: Confirm the transaction.

Your card will be listed on the payment page. Review the purchase details and click “Confirm” to complete the transaction. 

You may be asked to enter a second-factor authentication code to confirm your identity. The transaction will be processed immediately and the BNB tokens will be deposited into your wallet.

Most Advantageous and Safe Cryptocurrency Brokers to Buy BNB

As mentioned before, BNB is a well-known blockchain and currency, so many cryptocurrency exchanges offer this popular option. 

Here are some of our top picks, based on our experience:

• Binance – Binance is an excellent choice for buying BNB. Its easy-to-use interface and high liquidity make the buying experience simple and straightforward. 
• Coinbase – Coinbase is one of the most popular and trusted cryptocurrency exchanges in the world. With an intuitive interface and top-notch security, it’s an excellent choice for those just starting out investing in crypto. 
• CoinEx – With a user-friendly and easy-to-use interface, it is a great choice for both beginners and experienced traders.
• Gate.io – Gate.io is a cryptocurrency trading platform that makes it easy to buy, sell, and exchange a wide variety of digital currencies.
• OKEx – OKEx goes beyond being just a platform for trading cryptocurrencies. With a wide range of services including margin trading, mining pools, lending, decentralized options with OKExChain, and more, it stands out as one of the most versatile exchanges available.

Now let’s understand how each of them stands out in the crypto market:

Binance

Arguably the world’s largest centralized cryptocurrency exchange, Binance has established itself as a global leader in the industry. With an impressive user base of over 150 million registered users worldwide, Binance continues to grow and expand its range of products and services.

One of the essential pillars of Binance is its robust security. With a security score of 5/5, Binance maintains a high standard of protecting users’ assets.

Its proactive approach to security measures such as two-factor authentication and advanced crypto protocols ensures a safe and reliable trading experience for its users.

While Binance does offer customer support, we noticed that there is room for improvement. The lack of live customer support via phone lines may be an inconvenience for some users.

However, the exchange makes up for this with a variety of online support resources, including live chat and an extensive knowledge base.

Binance’s fees are competitive compared to other exchanges. With a score of 4/5 on this criterion, Binance offers a transparent fee structure, with options to reduce fees through the use of the Binance Coin (BNB) token and discount programs for high-volume traders.

Binance stands out for its diverse range of assets and products. With an impressive range of over 385 tokens and over 1,600 trading markets, Binance caters to the needs of a wide range of investors and traders. Additionally, the exchange offers a range of innovative products such as derivatives trading, P2P lending, and access to NFTs.

How to Buy BNB in ​​2024

Buy BNB on Binance

Coinbase

As one of the world’s leading cryptocurrency exchanges, Coinbase has consistently maintained a prominent position in the market, earning the trust of millions of users across the globe.

Security is a top priority at Coinbase, and this is evident in its perfect score in this regard. As a reputable centralized exchange, Coinbase has set exceptional standards for security, giving users peace of mind that their digital assets are protected.

Its strict adherence to regulations and advanced security measures make it a reliable choice for those who value the security of their cryptocurrency investments.

While Coinbase offers satisfactory customer support, some users may face challenges in getting timely assistance due to high demand. While there is room for improvement in this regard, the Coinbase support team continues to provide effective solutions to user queries.

Fees on Coinbase are competitive compared to other cryptocurrency exchanges, ranging from 0% to 0.60%. While there may be some fees associated with certain transactions, the transparency regarding fees is commendable, allowing users to make informed choices when trading digital assets.

With support for over 240 cryptocurrencies and over 500 trading pairs, Coinbase offers a wide variety of options for users to explore. From major assets like Bitcoin and Ethereum to emerging projects, there’s something to suit every interest and investment strategy on the platform.

Coinbase isn’t just limited to basic cryptocurrency trading. With innovative products like Coinbase Pro and Coinbase Advanced, the exchange caters to the needs of both beginner traders and experienced investors. Additionally, the introduction of features like staking and the Base ecosystem demonstrates Coinbase’s continued commitment to innovation and expanding its services.

How to Buy BNB in ​​2024

Buy BNB on Coinbase

Coin E x

CoinEx, a cryptocurrency exchange established in December 2017 and headquartered in Hong Kong, is emerging as a promising option for cryptocurrency enthusiasts and investors looking for security and efficiency.

Committed to providing a highly secure, accessible, and high-performance platform, CoinEx stands out for its innovative approach and proprietary trade matching system.

Fund security is a non-negotiable priority for any cryptocurrency exchange, and CoinEx does not disappoint in this regard. Although it is a relatively new exchange and has not faced any hacking attempts to date, it has taken solid measures to protect customer assets. The implementation of the 2FA (two-factor authentication) standard provides an additional layer of security, while the use of multi-signature strategies and HTTPS reinforces the protection of user data and funds.

CoinEx stands out for its impressive capacity to process up to 10,000 transactions per second thanks to its high-speed matching engine.

This efficiency allows users to execute deposit and withdrawal operations in a matter of minutes, providing a smooth and agile trading experience.

However, it is important to note that the platform does not currently support purchasing cryptocurrencies with fiat currency, limiting its functionality compared to other exchanges.

While CoinEx does not provide a full-fledged wallet like some other renowned exchanges such as Coinbase, it does offer a temporary wallet for trading purposes. Users can deposit their cryptocurrencies into the CoinEx wallet to facilitate transactions, although they do not have direct access to the private keys. In this regard, it is highly recommended that investors consider using hardware wallets such as the Ledger Nano S or Trezor to securely store their digital assets outside of the exchange.

Buy BNB on Coinex

Gate.io

Gate.io, one of the oldest cryptocurrency exchanges in China, has been a fixture in the crypto world since 2013. Previously known as Bter.com, the platform rebranded in 2017, cementing itself as one of the fastest-growing exchanges in the cryptocurrency market.

With a wide range of features including a leading Initial Exchange Offering (IEO) platform, leveraged margin trading, and advanced financial services, Gate.io provides a robust environment for crypto enthusiasts to explore.

Gate.io implements a range of security measures, including two-factor authentication (2FA), login checks, and phishing protection. Additionally, user funds are protected via hot and cold wallets. Despite requiring KYC verification for accounts with higher deposits, the platform remains unregulated.

Gate.io’s interface offers a relatively user-friendly experience, with simplified access to markets, trading charts, and order placement. However, for beginner traders, the amount of features may seem overwhelming at first. Customer support is always available via live chat, and the responsive design allows for smooth trading, including through mobile apps.

While Gate.io does not accept fiat deposits, cryptocurrency deposits are free. Withdrawal fees vary by currency, and withdrawal limits can be increased upon KYC verification and support inquiries.

Buy BNB on Gate

OKX

As one of the top cryptocurrency exchanges in terms of trading volume, OKEx has established itself as a “one-stop marketplace” for crypto enthusiasts. This review will detail the platform’s key features, history and foundation, general information, fees, design and usability, customer support, security, deposit and withdrawal methods, and finally offer a conclusion on the platform.

OKEx offers a wide range of options for both beginners and advanced traders. With over 400 trading pairs and support for multiple fiat currencies including Apple Pay, Visa, Mastercard, and bank transfer, the platform makes it easy to convert fiat to crypto.

Additionally, margin trading with up to 125x leverage and funding options like Earn, Lending, and OKX Cloud demonstrate OKEx’s versatility. Security is a priority, with mandatory 2FA authentication and anti-phishing measures.

Founded by OKCoin and headquartered in Malta since 2018, OKEx has moved to take advantage of favorable regulations for digital assets and blockchain. With awards received and constant updates, OKEx has grown to serve users in over 100 countries.

With a daily trading volume of 78,181.2 BTC, OKEx is operated under the control of Aux Cayes FinTech Co. It supports over 400 trading pairs and offers OKB and OKT tokens.

While not the most aesthetically appealing, OKEx’s simple and clean design makes it easy to navigate and provides quick access to a variety of trading tools. The trading charts are visually appealing and intuitive.

Buy BNB na OKX

What is BNB?

Binance Chain (BNB) was created in April 2019 as the main blockchain system of the Binance exchange, founded by Changpeng Zhao. This blockchain was designed to facilitate fast and cost-effective cryptocurrency trading.

Binance Smart Chain (BSC) is a separate blockchain that emerged in September 2020, similar to the difference between Binance Global and Binance US. BSC was created to support smart contracts and decentralized applications (DApps).

BNB was built using the Cosmos SDK, while BSC is basically a modified version of the Go Ethereum client. In February 2022, BNB and BSC were combined to form the BNB network we have today.

The BNB network acts as the main chain, working in conjunction with BSC, which acts as the layer for smart contracts and execution. 

BNB is short for “Build and Build” and is used as a governance token as well as being used for transactions on the BNB chain, similar to gas on Ethereum.

When you use the BNB chain, you are most likely using the BNB Smart Chain. It is important to note that there are two versions of the BNB coin: BNB Beacon Chain (BNB) and BNB Smart Chain (BNB).

Binance Smart Chain (BSC) was launched in September 2020 to overcome the limitations of Binance Chain, which lacked support for smart contracts. 

While Binance Chain focused on ultra-fast trading, BSC was designed as a sidechain to support smart contracts while maintaining high transaction speeds. This was in response to congestion issues seen on other networks, such as Ethereum, during events like CryptoKitties in December 2017.

Reasons to buy BNB in ​​2024?

A lot has changed since Binance Coin (BNB) launched in 2017. It offers discounts to Binance users, and during its initial coin offering, each BNB cost $0.10.

Despite the ups and downs in the market, interest in Binance Coin continues in 2023. In January 2023, it peaked at $686.31 but then fell to $184.54. It is now trading at $281.10.

But why invest in BNB in ​​2024?

Binance Smart Chain (BSC) could become like Ethereum, but cheaper and faster.

• The price of BNB has been rising a lot recently, tripling its value.
• Binance Coin is innovating the NFT market and the metaverse.
• BNB has many uses, including reducing trading fees and powering the Binance Smart Chain.
• Binance burns tokens regularly to increase the value of BNB.
• Paying with BNB on Binance cuts trading fees in half.
• Binance is the leader in trading volume, which gives more liquidity to BNB.

Conclusion

In conclusion, buying BNB can be an excellent choice for those looking for a safe investment with growth potential. 

With Binance offering multiple options to purchase this cryptocurrency, from bank transfers to credit/debit cards, the purchasing process becomes accessible to everyone.

Furthermore, the benefits of owning BNB go beyond its market value. Binance Coin plays a key role in the Binance Smart Chain, offering benefits such as reduced trading fees and participation in governance.

So, if you are considering investing in cryptocurrencies, BNB is certainly worth your attention. And for more articles about the world of cryptocurrencies and investment tips, keep following Todaysgist

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