How to Buy Binance Coin in The USA
A beginner’s guide to buying, selling and trading BNB cryptocurrency in the USA
Thinking about adding Binance Coin to your portfolio?
For those who are new to cryptocurrency, it’s worthy to note that the revolution in the cryptocurrency industry has come a long way. Although few may think that the crypto space has reached its peak level, recent developments within the DeFi and NFT sectors are proving otherwise. So, for anyone who wants to invest in cryptocurrencies, the market is still fresh to do so.
Our focus today is on the Binance token, which has become very popular within the crypto space.
Binance (BNB) is developed by the popular Binance exchange, and as the developer grows, the token grows as well.
If you’re looking to buy Binance in the USA, you are at the right place. The following Steps will help you to buy BNB easily.
What's in this guide?
- QUICK GUIDE: HOW TO BUY BINANCE COIN IN THE USA
- A Step-by-Step Guide to Buying Binance
- Things to Consider When Buying Binance in the USA
- Final Words
QUICK GUIDE: HOW TO BUY BINANCE COIN IN THE USA
- Choose an exchange
- Open an account
- Verify your account
- Deposit Funds into your account
- Buy Binance (BNB)
A Step-by-Step Guide to Buying Binance
Set up an account with an exchange that supports Binance in four steps
Step 1: Choose an exchange
A cryptocurrency exchange is the best route for anyone new to cryptocurrency. If you’re not invested before, going through an exchange will be easier and more convenient for you. Although there is a fee attached to this method, it’s still worth it.
The popularity of Binance makes it very liquid, which means you will not have an issue buying it on an exchange. Almost all exchanges in the USA offer the BNB pair, so you will have a lot of options to choose the right exchange.
After choosing the exchange you want, the next step is to create an account. Here, you will be asked to provide certain personal details, including your email address, ID, as well as your employment status.
Step 2: Create an account
After filling the registration form, a small puzzle will be sent for you to answer and prove you’re a human and not a robot.
An email confirmation will be sent to you. After clicking on the link, you will be redirected to the next registration phase. Note that this process is used by several exchanges in the USA, but few others follow a slightly different process. All you need to know is that you will be required to provide personal information to enable them to document your registration and stay within the law.
Once a registration confirmation has been sent to you, the next step is to create your password with the exchange. Pick something unique and still easy to remember. You can always use a password manager to help you store the password in case you want to choose a very technical password.
After filling in your details, a 2-factor authentication (2FA) message is usually sent for final verification. Afterwards, your account is created and you are ready to start using it.
Step 3: Deposit funds into your account
After registering with the exchange and getting your account verified, the next step is to deposit funds to the account.
Most cryptocurrency exchanges accept different payment methods to make it easier for users to deposit funds to their accounts. You can decide to deposit directly from your bank account, through your debit card, or credit card.
But credit card or debit card deposits usually charge higher transaction fees. So, you may want to stick with a direct bank deposit.
The process is straightforward and similar to any other type of deposit you want to make on an online portal.
Step 4: Buy Binance (BNB)
After successfully depositing money to your exchange account, the final step is to buy BNB. It’s also pretty simple. All you need to do is head over to the exchange tab where you will see different pairings, including BNB/USD pairs.
Choose the BNB pair and enter the details of the transaction you want to execute. The order page comes with different options, but the most popular when buying crypto is the market order and limit order.
The market order allows you to buy BNB at the resent market price. On the other hand, a limit order is used by traders or investors who are expecting a further fall in the price of the token. In this case, the buyer can set the price range they want the buy order to execute. This means that the exchange will not honour the order if BNB has not fallen to that price range.
Before you fill the type of order you want, it’s important to study the market and understand the direction of the market.
Once you choose your order type and fill in the details, a review page will be shown to you. After reviewing the order and making sure everything is correct, you can tap the order button and send it for execution. In most cases, it won’t take time to fill the order and complete your transaction, especially for a market order. But for a limit order, the transaction is only executed when the price of BNB falls to the level you chose.
Check Out: Why Binance Coin is Going To Explode
Things to Consider When Buying Binance in the USA
Before you proceed to buy Binance in the USA, it’s important to consider certain things to make sure you are making the right investment.
Consider the project behind the token
In most cases, the strength of a token is influenced by the project behind it. While BNB is backed by a strong team, it’s still necessary to get updates about the present developments and future outlook of the project. Sometimes, news about a project can skyrocket the price of its token. Negative news can also impact the token negatively. So, it’s important to stay up-to-date when it comes to fundamentals around the Binance token.
Binance is highly speculative
Like other crypto assets, the Binance (BNB) token is a highly speculative token and can change in price within a short span. As a result, it’s necessary to understand the volatile nature of the token when you want to invest. That way, you will not throw all your eggs in one investment basket, which could be very risky.
Consider getting a crypto wallet
A cryptocurrency wallet may not be compulsory for everyone. But if you’re concerned about the safety of your BNB funds, you should consider getting one. An offline wallet will come in handy if you plan on storing your BNB for a long time. It will be safe from any hacking attempt, which is increasingly prevalent within the crypto sector.
The BNB token is no doubt one of the most popular coins within the crypto market. The cryptocurrency has a strong team supporting its growth and development. And there has been increased interest in the token over the past few months, with more people rushing to buy. I
f you are looking to invest in BNB tokens in the USA, we hope the guide above will be of great help to you.
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Virtual currencies are highly volatile. Your capital is at risk.