How to Buy Binance Coin in Ireland
A Beginner’s Guide to Buying and Selling Binance Cryptocurrency in Ireland
If you’re based in Ireland and wish to buy Binance Coin – the process is very straightforward. All you need to do is find a regulated exchange, deposit some funds, and decide how many Binance tokens you want to buy.
The amazing performance witnessed in the cryptocurrency market has revitalized the interest of investors in altcoins such as Binance Coins. Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. These are alternative tokens to buy in the crypto market if you do not want to trade with the most common ones, such as Bitcoin and Ethereum.
On the off chance that you fear the high level of risk associated with cryptocurrencies, you need to be cautious when investing in this market because you can end up losing most of the funds you invested. However, when the market forces favor you, finding this space very lucrative with great returns is possible.
What’s in This Guide?
This guide will take you slowly through all the steps involved in buying BNB in Ireland. Even though the token may not be as popular as Bitcoin or Ethereum, it still has growing popularity within the crypto community.
While this guide may be detailed enough for you to learn how to buy BNB in Ireland, it is paramount that you first consult with a financial professional if you want to invest your savings in crypto. You can also follow some established crypto traders on Twitter to gain trading insights.
- QUICK GUIDE: HOW TO BUY BINANCE IN IRELAND
- Where to Buy Binance Coin in Ireland
- A Step-by-step Guide to Buying Binance Coins in Ireland
- How to Sell Binance Coins
- Which Wallets Can I Use to Hold Binance Coins?
- How Binance Coins Works
- Key Things to Consider if You’re Thinking about Buying BNB in Ireland
QUICK GUIDE: HOW TO BUY BINANCE IN IRELAND
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select Binance
- Enter how many Binance coins you want to buy.
- Check the details and confirm your purchase.
Where to Buy Binance Coin in Ireland
In Ireland, you can only buy BNB from a licensed and regulated crypto exchange in the country. There are several crypto exchanges in Ireland, and all you need is to select the one you think would be best suited to your needs. The most important factor to consider is whether the exchange supports BNB tokens.
A Step-by-step Guide to Buying Binance Coins in Ireland
There are two options you can select from when buying BNB in Ireland. Either you can buy the tokens using other cryptocurrencies, or you can use fiat currency.
Buying with other cryptocurrencies
To purchase BNB with other cryptocurrencies, you need first to buy other popular cryptocurrencies such as Bitcoin or Ethereum. Once you have these in your exchange account, you can change them for BNB tokens by selecting pairs listed as BTC/BNB or ETH/BNB.
Buying with fiat currency
To buy BNB tokens using fiat currency is the easiest and most straightforward option. All you need is to deposit a specific sum of AUD to the exchange and choose a pair listed as EUR/BNB.
Follow these simple steps when buying BNB in Ireland.
Step 1: Register with an exchange
The first step is for you to register your details at an exchange account. All you need is your name, telephone number, email address, and physical address. Afterwards, you will have to verify those details by uploading supporting documents to the exchange.
Setting up your account is an easy process that will take minutes, although you may have to wait longer for the account to be verified. Of importance to note is that you need to secure your account using a multi-factor authentication process because this will prevent impersonators from attempting to steal funds and tokens from your account.
Step 2: Fund your account
The third step is for you to fund the account. You can deposit EUR to the exchange by using a credit card, debit card, or you can directly link your bank account to the exchange. Once your account has the funds you want, you can exchange these for BNB.
As mentioned earlier, you cannot only buy BNB with EUR, but you can also use other cryptocurrencies. In this case, all you need to fund the account are the other cryptocurrencies you can exchange for BNB.
Step 3: Buy BNB
Once your account has the required funds, the next step is for you to buy BNB tokens now. To do this, go to the purchase side of the exchange, enter the amount of EUR or other cryptocurrencies that you would like to exchange for BNB. Confirm your transactions, and you will later receive a notification in your email detailing your transaction. The number of BNB tokens you have purchased will later be displayed on the exchange account.
How to Sell Binance Coins
If you want to sell BNB tokens, you can repeat the same process as the one for buying the tokens, only that this time you will do so from the sell side of the exchange. Go to this section, enter the amount of BNB you want to sell, and confirm your details.
You can either sell BNB directly with EUR, after which you can withdraw it from the exchange, or sell BNB for other cryptocurrencies.
Which Wallets Can I Use to Hold Binance Coins?
Once you have bought BNB tokens, you need to find a way to keep these tokens safe from online interference. There are two types of wallets you can choose from; mobile wallets and hardware wallets.
Mobile wallets are hot wallets that will allow you to easily transfer tokens to the exchange whenever you want to sell. Hardware wallets are cold wallets that will store your tokens offline and HODL for a long time.
How Binance Coins Works
BNB works the same as other cryptocurrencies. The tokens help in powering decentralized technology that makes transactions superior to those on centralized financial platforms. These tokens help create anonymity in financial processes, and they make transactions faster, cheaper and faster.
Key Things to Consider if You’re Thinking about Buying BNB in Ireland
Some things you need to consider before buying BNB in Ireland include:
Volatility refers to rapid price movements in a market. Cryptocurrencies are very volatile, and this makes investing here very risky. It would be best if you considered this high level of risk before buying BNB.
Availability refers to how many tokens are available for buying and selling. High circulation of a token is important because it ensures high liquidity that will allow you to buy and sell easily.
The performance of a token is also the other thing you should consider. You can check performance by looking at the price history of that token.
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Virtual currencies are highly volatile. Your capital is at risk.
Where can I buy BNB tokens
You can only buy BNB tokens from a crypto exchange platform.
Can I buy BNB using a credit card?
Yes, you can buy BNB using a credit card that you can link to the exchange. However, only selected exchanges offer this option.
Are cryptocurrencies risky?
Cryptocurrencies are highly volatile, which means there is a high risk of investing in this market.