Binance Smart Chain (BSC) is one of the most vibrant ecosystems in the crypto finance space. In this article, experts at Trading Education share their top 5 ways, places, and exchanges to buy Binance Coin in 2023. Through this, you will be able to assess the pros and cons of exchanges that support BNB, and the important factors you should take into consideration before settling on the best crypto exchange to buy Binance Coin in 2023.
Binance is among the most popular blockchain technologies that use the possibilities of smart contracts to settle financial transactions. The Binance Smart Chain is one of the most patronized decentralized finance platforms in the crypto finance space today.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
With decentralized applications or protocols such as PancakeSwap, Venus, Tranchess, Alpaca Finance, and Ellipsis Finance, Binance continues to help thousands of people make passive income through staking, lending, and joining awesome liquidity pools.
The patronage of the Binance Smart Chain by thousands of blockchain technology enthusiasts and decentralized finance fans has been a positive for the native token of the project, Binance Coin (BNB).
As the number of blockchain wallet users globally increased from 66.22 million in January 2021 to 81.23 million in February 2023, so did the number of cryptocurrency exchange account holders.
Such interests have led to questions such as where can I buy Binance coins, can I buy Binance Coin in the US, where is Binance coin available, which exchange supports Binance coin, what is the safest crypto exchange to buy Binance coin, and how to invest in Binance coin?
By following this article through to the end, you will learn more about the best ways to buy Binance Coin. This will play an invaluable role in helping you learn about the myriad of ways to buy Binance Coin based on your interests as well as needs.
TABLE OF CONTENTS:
- Best 5 Exchanges To Buy Binance Coin (BNB)
- Introduction To The Crypto World Of Binance
- Payment Methods Compared
- The Cheapest Place To Buy Binance Coin
- The Safest Way To Buy Binance Coin
- The Easiest Way To Buy Binance Coin
- The Fastest Way To Buy Binance Coin
- How Do I Buy Binance Coin Near Me?
- Best Ways To Buy Binance Coin Anonymously
- Best Ways To Buy Binance Coin With PayPal
- Best Places To Buy Binance Coin With A Credit/Debit Card
- Best Ways To Buy Binance Coin With Your Bank Account
- How To Buy More Cryptocurrencies, Or "Altcoins"
- See You On The Other Side!
Best 5 Exchanges To Buy Binance Coin (BNB)
Although there are more than thirty best ways to buy Binance Coin, Trading Education has conducted extensive research which involves the best cryptocurrency exchanges that support Binance Coin.
In light of our cumulative experiences, we came across several factors you have to consider such as anonymity, ease of use, fees, regulatory compliance, payment methods, limits, security, insurance, speed, liquidity, geographical restriction, customer service, and reputation.
This helped us settle on the 5 best exchanges to buy Binance Coin.
Our cumulative knowledge resulted in the exchanges listed below.
These are platforms we have used many times and are the best places to buy BNB. And the winners are eToro, Binance, FTX, BitMart, and other Honorable Mentions.
1. eToro
Founded in 2007, eToro is a multi-asset exchange that provided support for cryptocurrencies in 2013.
eToro is one of the most established exchanges in the digital finance space today because they have operated for years without being mired in any controversies or regulatory problems.
eToro made Binance available to the public for trading for the first time on 25th July 2017.
This answers questions such as when did eToro list Binance Coin, is Binance Coin on eToro and does eToro support Binance Coin?
Binance Coin is one of the most traded coins on the exchange.
Many people have been asking the question: how do I get Binance on eToro?
You can get Binance Coin on eToro by signing up for an account here. After inputting legal details of your full name, contact number, residential, and email address, you have to verify your account.
Representatives of eToro will request you to provide government-issued identification cards as well as one to a six-month-old credit card or bank statement to fully verify the person behind the smart device.
Choosing from a range of payment methods, you can deposit funds, and then buy the worth of BNB coins that meets your investment budget.
Before you buy BNB on eToro, let us analyze the pros and cons of the exchange.
Pros of eToro:
✅ An easy-to-use dashboard that makes trading easy for beginners.
✅ Easily accessible (you can download eToro for PC as well as smartphones).
✅ Supports many payment methods (Aside from the usual bank wire transfer and credit/debit card, eToro supports PayPal, Skrill, and others).
✅ Provides a virtual demo account with $10,000 in funds to help beginners try their hands on trading.
✅ Provides a smooth registration and verification process.
✅ Feature of copy trading helps beginners make huge gains by copying the portfolios of experts).
✅ Regulated exchange with the necessary licenses from countries like the United Kingdom, Australia, and Cyprus among others.
✅ Records billions of dollars in volume which signals huge liquidity.
✅ Low trading fees in addition to free deposits.
✅ Operates in more than 140 countries globally.
Cons of eToro:
❌ Customer Support Representatives are less responsive to queries.
❌ Dormant accounts are subject to account inactivity fees.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
2. Binance
Binance Exchange was founded in July 2017 by one of the most popular crypto billionaires in the space, Chanpeng Zhao.
As one of the go-to cryptocurrency exchanges for most beginners, Binance is the largest crypto exchange by daily trading volume.
The platform continues to record approximately $10 billion daily.
As of today, Binance has more than 15 million users worldwide. Binance Coin (BNB) ranks fifth on the list of the top cryptocurrencies by markets and it’s involved in 144 markets.
In addition to this, Binance Coin is the eleventh most traded cryptocurrency by volume on the exchange with $302.57 million recorded in the last 24 hours up to the time of writing.
Before you invest a dollar in Binance Coin through this platform, let us do a thorough study of the pros and cons of buying BNB through Binance Exchange.
Pros of Binance:
✅ Highly Liquid Exchange (this prevents slippage as someone is always ready to meet your order and that is why it is ranked as the number one exchange globally).
✅ Supports 1,227 markets.
✅ Supports 316 cryptocurrencies as of Sunday, 13th February 2023.
✅ High-Speed Platform (processes approximately 1,400,000 transactions per second).
✅ Based in more than 180 countries.
✅ Well regulated (KYC for new customers which helps prevent AML and help counter terrorism financing).
✅ Highly secured exchange with the necessary encryptions (provides multi-factor authentication features such as 2FA).
✅ Customer service responds relatively faster than other exchanges.
✅ Multiple payment methods are supported (bank cards as well as direct crypto deposits from wallets such as TrustWallet).
✅ Can be accessed through many outlets such as android and iOS-powered smartphones, tablets, and pads).
✅ Has one of the lowest trading fees in the crypto finance space.
✅ Provides extensive educational resources.
✅ Staking is available for traders and investors who want passive income.
✅ Exchange is very easy to use.
Cons of Binance:
❌ Features too advanced for beginners.
❌ There is a complex verification process.
❌ Not open to all forms of payment methods (PayPal and co. are not accepted).
❌ Does NOT support fiat-to-crypto trading.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
3. FTX
This exchange was founded in 2019 and just over two years has gone on to become one of the best platforms for trading Binance Coin and other crypto tokens.
With a headquarters in the Bahamas and incorporation in Antigua and Barbuda, the exchange is registered as FTX Trading Limited.
As of July 2021, there are more than 1 million users of FTX.
As of Sunday, 13th February 2023, FTX is the 10th largest crypto exchange by daily volume.
Binance Coin (BNB) is the fourth most traded cryptocurrency by volume on FTX with $39.88 million in the last 24 hours up to the time of writing.
Such patronage is what has seen the exchange continue to trend online with numerous questions.
Some of these questions include but are not limited to can you buy Binance Coin on FTX, does FTX support BNB, and when did FTX add support for BNB?
BNB is available on FTX and the exchange added support for BNB on 5th August 2021.
Let us analyze the pros and cons of investing in BNB through FTX.
Pros of FTX:
✅ Highly Liquid Exchange (recorded $999.06 million at the time of writing).
✅ Supports 138 cryptocurrencies including BNB as of 13th February 2023.
✅ Supports 213 markets.
✅ Has one of the best customer support services in the space.
✅ Has a smooth registration and verification process.
✅ A highly regulated exchange that gives credence to Knowing Your Customer.
✅ Fees (free deposits and low withdrawals).
✅ Provides advanced trading options.
✅ Highly accessible.
✅ Range of payment methods (credit card, cryptocurrency, wire transfer, Signature SIGNET, Silvergate Exchange Network, PayID, and SEPA.
✅ Provides staking services.
✅ FTX Insurance Fund (helps prevent customer losses).
Cons of FTX:
❌ Has a relatively smaller number of cryptocurrencies it supports.
❌ Complexities in the user interface.
❌ Residents of the United States CAN NOT access the exchange.
❌ Relatively a novelty when compared to others.
❌ Risky leveraged tokens.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
4. BitMart
Founded in 2018, BitMart is a cryptocurrency exchange with a vision of making cryptocurrencies available to everyone on the globe.
Thriving on the philosophy that decentralized digital currency is the future of the global economy which will bring financial freedom to all manner of persons; BitMart is one of the largest crypto exchanges by daily trading volumes.
As of February 2023, the platform has more than 2.2 million users across the globe.
Among the top markets on the exchange by trading volume, BNB/USDT ranked fourth with $16.55 million in the last 24 hours up to the time of writing.
BitMart is ranked as a top 20 exchange by daily volume and as of writing had more than $330 million as the day’s volume.
Many have asked questions such as does BitMart have BNB, how do I trade BTC for BNB on BitMart, and when did BitMart list support for BNB? On 4th September 2019, representatives of the exchange through a medium article pointed out that they would be listing Binance Coin (BNB) on their digital asset platform.
Let us examine the pros and cons of investing in Binance Coin through the Binance Exchange.
Pros of BitMart:
✅ Cryptocurrency support is very high (list 224 digital tokens for trading as of 13th February 2023).
✅ High volume exchange (records more than $300 million daily).
✅ Support 278 markets.
✅ Trusted by millions of users.
✅ Highly accessible cryptocurrency exchange.
✅ The ease of use is very high (it offers a simple buy/sell crypto option).
✅ Users stand a chance of earning crypto through staking and savings products.
✅ Highly secure exchange (only 0.5% of assets are held in hot wallets as 99% of assets are held in offline/cold wallets).
✅ Customer service is great.
✅ Has a smooth registration and verification system.
✅ Offers reasonable trading fees.
✅ Range of payment methods (PayPal, Apple Pay, bank transfers, MasterCard, and VISA).
Cons of BitMart:
❌ Continues to recover from the large-scale hacking incident of 2021 that saw $196 million worth of tokens stolen.
❌ Negative customer feedback (customer reviews of the exchange on social media and review websites is largely poor).
5. Honourable Mentions
Aside from the best ways of buying Binance Coin in 2023 pointed out in the article, other exchanges allow you to buy BNB.
Some of these places include but are not limited to Changelly PRO, KuCoin, Huobi Global, BitGlobal, AAX, LUCA, Indodax, Bithumb, THORChain, WazirX, Poloniex, Bitvavo, Korbit, LiteBit, Currency.com, CEX.IO, Bancor, STEX, HitBTC, BeQuant, dcoin, Hoo.com, P2PB2B, WhiteBIT, and Bitrue.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Introduction To The Crypto World Of Binance
Binance, like Ethereum, encompasses every aspect of the crypto finance world.
Fortunately, Binance goes a step further by providing crypto users with both a centralized and decentralized exchange.
In a market of more than 17,500 crypto projects trying to find products for all categories, Binance has become a major force in the digital finance space.
Binance operates as a blockchain technology which is called the Binance Smart Chain.
Its native asset, token, or cryptocurrency is the Binance Coin (BNB). Binance is a mainstay in decentralized finance and has more than a billion dollars locked in its decentralized protocols or applications (collectively known as DAPPS).
Binance operates a centralized exchange called the Binance Exchange and a decentralized exchange called PancakeSwap which are among the dominant protocols in the DeFi stratosphere.
Aside from that, Binance through BSC allows the creation of non-fungible tokens (NFTs) with the best marketplace being OpenSea.
Through blogs on its online handle (Binance.com), users are informed about the state of central bank digital currencies (CBDCs).
There are several terminologies that crypto has added to the English dictionary.
It would be in your interest to not only get to know these words but understand them before investing in Binance Coin (BNB) as well as other tokens.
- As of 13th February 2023, there are more than 17,500 digital currencies in the market. This means that one is called Binance Coin (BNB). Aside from the Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and Shiba Inu (SHIB) tokens you see online in news feeds daily, there are Cardano (ADA), Tron (TRX), Solana (SOL), Algorand (ALGO), and Polygon (MATIC) among others.
- Binance Coin, like all cryptocurrencies, has the divisibility attribute. Divisibility is one of utility, transferability, scarcity, durability, and counterfeitability. These attributes make BNB valuable. Since Chanpeng Zhao and other contemporaries of Satoshi Nakamoto modelled their innovations after Bitcoin, BNB can be divided into 8 decimal points (1.00000000). For example, for $450, a $100 investment could buy approximately 0.22222222 BNB tokens. Therefore, you can buy a fraction of the token if you do not have the money to buy a whole coin.
- Binance was built on blockchain technology and this facilitates the distribution, storage, trading, and creation of BNB. If Binance was an automobile, imagine blockchain as the tarred road that allows BNB to move from one user to another.
- Exchanges (centralized and decentralized) were created to allow the exchange of fiat money for crypto as well as crypto-for-crypto.
- Wallets that support BNB such as Ledger Nano S, TrustWallet, Trezor Model T, Exodus, Atomic Wallet, Coinomi, Enjin Wallet, Trubi Wallet, and Guarda Wallet are software that facilitates access to the Binance Smart Chain. These wallets help transfer and store BNB and other digital coins securely and safely.
You will get to know more crypto terms as you carry on searching for the best ways to buy BNB.
As you find answers to the two most relevant questions, where can I buy BNB and how to buy BNB, you will realize that your preferences and needs play a crucial role in determining the best places to buy Binance Coin.
Check Out: Binance Coin Price Predictions
Payment Methods Compared
There are several payment methods when it comes to investing in Binance Coin. Here is a brief description of some of these methods.
Cash ─ If you want to buy Binance Coin anonymously, this is the only way since other methods can be linked to your identity.
Credit/Debit Card ─ This method is listed by most exchanges and it is an easy and fast way of investing in Binance Coin.
PayPal ─ This method is supported by many exchanges because it allows users to make deposits at zero fees.
Bank Transfers ─ Although the processing of transactions is quite slow, this method is among the best ways of making deposits because of the background checks involved.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Cheapest Place To Buy Binance Coin
eToro is the cheapest place to buy Binance Coin because you can make deposits and pay $0 in fees.
Any amount of money uploaded will only be subjected to low transaction fees and this can help you get the full worth of money invested in BNB.
The Safest Way To Buy Binance Coin
All the exchanges recommended are among the safest ways to buy Binance Coin.
eToro prioritizes KYC and has a smooth verification process that allows you to buy BNB and other tokens fast.
Tips from Trading Education; Most of our experts recommend turning on two-factor authentication (2FA) to help protect your account.
The Easiest Way To Buy Binance Coin
Many people ask the question, what is the easiest way to buy Binance Coin? The easiest way, place, or exchange should have a fast verification process, and as well must be highly accessible.
eToro fits these requirements and as such can be said to be the easiest way to buy Binance Coin.
Aside from eToro, cryptocurrency exchanges such as Binance, BitMart, and Gate.io are among the easiest ways to buy Binance Coin.
In addition to this, one of the easiest ways to buy Binance Coin is through Skrill.
Skrill wallet holders can buy any amount of BNB and their transaction will be processed within seconds.
The Fastest Way To Buy Binance Coin
Since eToro can be accessed via the web as well as android and iOS-powered smartphones in addition to accepting credit/debit cards and PayPal, Trading Education believes eToro is the fastest way to buy Binance Coin.
How Do I Buy Binance Coin Near Me?
As of February 2023, there are no Binance Coin ATMs available like there are Bitcoin ATMs.
Therefore, the only way you can buy BNB near you is to have a verified account on one of the aforementioned exchanges.
In case there is a market opportunity, you can take advantage of it, and buy BNB within seconds.
Don't Miss: 26 Reasons Why You Should Invest in Binance Coin Today
Best Ways To Buy Binance Coin Anonymously
The best way to buy BNB anonymously is through cash. As of February 2023, regulatory concerns are closing this gap. Therefore, the best way to buy Binance Coin anonymously is to join an investment pool. This way, you share rewards and losses while maintaining your anonymity.
Best Ways To Buy Binance Coin With PayPal
The best way to buy Binance Coin with PayPal is through eToro.
Best Places To Buy Binance Coin With A Credit/Debit Card
The best place to buy Binance Coin with a credit/debit card is eToro and BitMart.
Aside from these exchanges, Skrill Wallet holders can use their bank cards to buy BNB (deposits normally come at 2.99% of the investment amount).
Best Ways To Buy Binance Coin With Your Bank Account
Skrill and eToro are the best ways to buy Binance Coin with your bank account. This is because they prioritize KYC and once you are fully verified, it becomes easy to process your deposit.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
How To Buy More Crypto Assets, Or "Altcoins"
Finding crypto exchanges that allow you to trade crypto for other crypto coins is not that easy.
Trading Education believes Gate.io is an exchange that supports the trading of BNB and other tokens.
Gate.io is a high-volume exchange that recorded $851.53 million as of writing.
Aside from this, the exchange offers 627 cryptocurrencies for trading in 1,209 markets. It is well regulated, supports instant deposits and withdrawals, has a great reputation, and supports more than 100 countries.
Most users have left positive reviews for the exchange which certifies it as a well-established platform.
See You On The Other Side!
Trading Education has given you a comprehensive list of the best ways to buy Binance Coin in 2023, per your needs and interests.
If you want to take an extensive stake in the cryptocurrency market, Trading Education has articles and courses on the Binance project in addition to fifty others.
These resources will prove highly invaluable to your trading and investing efforts.
You should always remember that having a stake in Binance Coin is one of the best ways to pay close attention to the crypto finance market.
With time, you will discover thousands of ways to make decent passive income in the decentralized finance space.
eToro – Best Exchange To Buy Binance Coin BNB
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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