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So before you jump in, it’s essential to understand some basic concepts and principles. There’s more to it than just buying some crypto and hoping for the best. Bitcoin may be one of the most popular coins to invest in, but it’s not the only one. Altcoins provide a great alternative when buying crypto that can increase the diversity of your portfolio.

By clicking on the ‘Credit/Debit card’ link from the previous step, you will land on the page below on which you will provide your order or transaction details. Visiting the P2P part of the platform, you’ll be able to pick whether you want to buy or sell. Once that’s done, you’ll also be able to enter the specific amount of money that you’d want to spend on the asset of your choice. To finish off our guide on in china bitcoin mining moguls are scrambling to survive how to buy on Binance, it’s worth mentioning one, final thing – the P2P services that Binance provides. On the left, you have the constantly-changing BTC prices. At the top, you’ll find 24-hour highs, lows, volumes, and some general changes.

While it is true that Binance is one of the potentially-more-confusing cryptocurrency exchanges out there, this is only true because of the different features that it provides to its users. You see, on Binance, you can purchase, say, Binance BTC from the platform itself, or trade it from some other users. Binance is one of the top cryptocurrency a beginners’ guide to bitcoin exchanges in the world, facilitating 1.4 million transactions per second. Binance Coin (BNB) is the exchange’s native token, which is currently the fifth-largest crypto by market cap. In contrast, trading aims to make short or medium-term gains through regular buying and selling.

Frequently Asked Questions on Buying Binance Coin (BNB)

BNB is now ranked among the five most valuable digital assets with a market cap of over $55B. During its all-time high (ATH) date, it reached a market valuation of $103 billion. Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

How to Buy BNB on Trust Wallet (Step by step)

The easiest method to buy some crypto is to use your credit card or debit card with the Buy Crypto feature. You can change the fiat currency using the menu at the top right corner. Next, select the fiat currency supported by your preferred payment method. Click the fiat symbol within the Spend tab to open up the available options of supported national currencies. Binance Coin is a utility token that powers the entire Binance ecosystem ranging from the Binance Exchange, DEX to the Smart Chain. It was initially introduced to incentivize participation in the July 2017 Binance ICO, allowing BNB holders to claim discounts when paying transaction fees using the asset.

Your BNB tokens will be deposited to your Binance ‘Fiat & Spot’ wallet as soon as the transaction is processed. The tokens will be deposited into your Trust Wallet account as soon as the transaction is processed. It’s worth noting that despite BNB tokens existing in various versions, the total token supply is maintained across these platforms.

1. Most of them have to do with fees and transaction speed – depending on the price of BTC, buying Bitcoin on Binance via Simplex might be the smart thing to do.
2. While the value of BNB is volatile, BUSD is designed to be as stable as the US Dollar, making it a hedge against price volatility in the crypto market.
3. For newcomers to crypto, Bitcoin is usually the first stop when it comes to investing.
4. Trust Wallet is a fully-owned independent subsidiary of Binance exchange.

How to Start Copy Trading with UEEx: A Step-by-Step Guide

Before we continue, it’s worth noting that Trust Wallet lists both versions of BNB here with different titles to differentiate them. The token named BNB is the BEP-2 version on the Binance Chain (BC) network while the other one named Smart Chain is blockchain bitcoin ethereum blockchain beginners guide the BEP-20 token on the BSC network. Trust Wallet is a mobile crypto wallet application available for iOS and Android devices.

As a utility token, it would enable its holders to claim trading fee reductions on the exchange once the platform launched. Binance raised about $15 million from the ICO, and over 100 million tokens of BNB were distributed to the public. Despite its humble background, BNB has grown to become more useful within the Binance ecosystem.

If you create a new wallet, ensure you backup your recovery phrase by writing it down on a piece of paper and keeping the paper in a safe place. From the Binance home page, hover over the Buy Crypto link on the top navigation bar, then select the Credit/Debit Card option from the drop-down list. After you have filled out this dialog box, click ´Continue´ to proceed to the payment step.