Binance Coin Buying Guide | Paypal, Credit Card & SEPA
Would you like to save yourself some fees for Binance? Or maybe you just want to maintain a certain investment risk through the world's most popular crypto currency exchange? You simply need to buy Binance Coins. In this article we will show you the easiest way to do this.
Is it too late to buy BNB Coins?
Within just one year, Binance Coin has grown from an unknown crypto currency to one of the largest today. Given that the NBB was traded on the stock exchanges for only 11.5 cents per coin for the first time in July 2017, it may feel too late to invest. But don't worry, the coin has left its record high of $24.46 per coin behind.
This means that NBB investors receive a significant, historically high discount at this very moment. The fact that Binance Coin has outperformed other crypto currencies in the 2017 market crisis makes it even more exciting. Many commentators and observers of crypto currencies therefore assess the crypto potential in the next bull market extremely positively.
There are also numerous factors that indicate that NBB-Coin will perform well in the future:
- Binance is already the largest stock exchange in the world. This makes NBB-Coin the strongest exchange-backed coin on the market.
- Binance has committed to spend 20% of its quarterly profits on the repurchase of NBB-Coins and then destroy them. This burning of coins reduces the supply. Consequently, if demand remains unchanged and supply shrinks, the price should rise.
- In the future, even more options will be offered for the use of Binance-Coins. For example, Binance is currently creating a decentralized stock exchange. It seems almost certain that the NBB coin will be used to reduce the fees in this new product.
- When the crypto-madness conquers the world again, Binance is well positioned to attract a significant number of new customers. This means that the demand for Binance coins is likely to increase.
In short, the outlook for Binance Coins is positive and there are still opportunities for investors to enter.
How high could the Binance-Coin rise?
Nobody is able to predict 100% how a crypto currency will develop in the future, but Binance is the largest crypto currency exchange in the world. This business is extremely profitable and many news agencies even report that Binance has been more profitable than Deutsche Bank in the meantime.
High profits mean that Binance earns very well due to relatively high fees. As a result, many savvy investors buy NBB coins to reduce the fees for their transactions. At the same time, the very high profits mean that Binance spends more money on its quarterly coin buy-back, reducing the supply of coins and thus driving up the price.
New crypto currency investors are attracted by the largest stock exchanges. As a beginner, where would you buy your crypto if not at Binance? This enables Binance to attract the largest share of new crypto currency investors and thus also potential NBB investors. This is why we believe that Binance Coin is destined to outperform the market in the net crypto bull cycle and reach new highs.
Where to buy NBB coins: 2 options
Binance is currently trying to make arrangements to allow them to take regular currency deposits on the stock exchange. Unfortunately, this is easier said than done and there are a considerable number of regulatory cycles that need to be completed before this can happen. When this finally succeeds, the easiest way will be to buy NBB coins directly through the Binance exchange.
At the moment there is no direct way to buy Binance Coins in regular currency from a single account. Instead, you need to buy Ethereum or Bitcoin and trade it on the Binance Exchange for NBB coins.
Create a Coinbase account
- History: Coinbase was founded in 2012 and is the world's most popular crypto currency exchange.
- Investors: Coinbase has strong investors like the venture capital company IVP, the New York Stock Exchange and other companies.
- Simple: Coinbase is known and loved for its easy to use interface.
- Minimum deposit: You can already invest with amounts from 6€ in crypto currencies on Coinbase.
- Regulated: Coinbase is one of the few crypto currency exchanges that's regulated.
- Insurance: Client funds are insured and segregated.
- Deposit methods: Credit/Debit Card, Bank Transfer and PayPal for US customers.
- Tradable crypto currency: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, 0x and more coming.
Do you want to check if you have set up your Coinbase account correctly? Our detailed instructions will support you.
Now the first step is done and we are ready for our first crypto currencies. But you might ask yourself, where do I find BNB coins on Coinbase now? BNB Coins themselves are not available directly from Coinbase. To get NBB, you must first buy Bitcoin or Ethereum on Coinbase and then send these coins to a stock exchange to buy Binance Coins with BTC or ETH.
The fastest way to purchase BTC or ETH on Coinbase
- Go to the buy/sell page in your account.
- Add a payment method to your Coinbase account.
- You can now choose between different deposit methods: Credit card payments or bank transfer. One factor that is important when deciding is how urgently you need your coins. A bank transfer has lower deposit fees, but it takes between 2 and 5 days until your crypto currencies are credited to your Coinbase account.
- Option 2: You can deposit money with a credit or debit card. You pay a fee of about 3%, but receive your coins directly.
Both methods are easy to use and ensure that your money lands safely on your Coinbase account. After the deposit you will receive an email informing you when your deposit was successful.
- Once your account is loaded, choose between the crypto currencies listed in the buy/sell section Ethereum or Bitcoin.
- Enter the amount for which you would like to buy Bitcoins, for example.
- Choose as payment method your currency wallet into which you have deposited (in this example we used EUR).
- Please check your order before you click on "Confirm purchase". Your cryptos will then automatically be credited to your Coinbase account.
Do you want to buy crypto currencies on Coinbase even cheaper?
Then take a look at our Coinbase Guide. Here we show you how you can send your funds to the subsidiary Coinbase Pro with a little more effort. On Coinbase Pro you can save money with every single purchase, trade or sending of Coins.
Setting up a wallet for the storage of binance coins
Before you buy your BNB coins, it is probably a good idea to set up a wallet. The good news is that the BNB coin is an ERC-20 token, which means it is based on the Ethereum block chain. This means that you can store Binance-Coins in MyEtherWallet.
Store your NBB coins free of charge with the popular MyEtherWallet.
Need help setting up MyEtherWallet? Our detailed MyEtherWallet guide will guide you through each step.
The ultimate way to store NBB coins
We believe that MyEtherWallet is the best way to store your Binance Coins free of charge. However, you may have heard of crypto currency hacks and most likely much of this is true. There are definitely hackers out there trying to steal crypto currency. Therefore, many investors look for the safest way to store NBB coins. The answer is a hardware wallet.
However, hardware wallets are not suitable for every crypto investor because they cost over $100. For example, it is extremely difficult for someone with only $100 in crypto to justify these costs. However, we at Bitcoin-News.one always use a hardware wallet and therefore recommend the same.
What exactly is a hardware wallet? They are small USB devices that connect to your computer. They store the private keys to your crypto-wallet so that these keys cannot be found anywhere outside the device. This is extremely important because crypto currency thieves are essentially trying to find out people's private keys to steal their crypto currencies. The beauty of hardware wallets is that they ensure that your money is protected from phishing attacks, keyloggers , and other methods that hackers use to try to steal your private key.
Which hardware wallet should you choose? There are two major hardware wallet manufacturers: Trezor and Ledger. To help you choose the right one, we have prepared a great Ledger vs. Trezor comparison for you.
Create a Binance account
You should have Bitcoin or Ethereum on Coinbase by now and your MyEtherWallet should be ready to go. If you do not have a Binance account yet, the next step is to set up one.
- The largest stock exchange in the world: Binance has the highest crypto trading volume in the world.
- The One-Stop-Shop: Over 100 different crypto currencies are available on the exchange.
- Easy to operate: The exchange has received much praise for being simple and straightforward.
- Customer Support: Binance has invested in multilingual support.
Do you need help setting up your Binance account? Simply immerse yourself in our Binance Guide.
From Coinbase to Binance: Guide
- Log in to your Binance account.
- Select "Funds" and click on "Deposit
- Make sure that you choose the crypto currency that you bought on Coinbase, if you choose the wrong crypto currency you can lose your money.
- You will now see your Binance inpayment address. This address is your new individual wallet address to which you send your coins. Copy this address and go back to Coinbase.
- Log in to Coinbase and select the "Accounts" button.
- Click on "Send" for the crypto currency from which you have just copied the wallet address (Binance).
- Enter your Binance wallet address in the "Recipient" field and enter the amount you wish to send.
- Click on "Next" and complete the transaction. Your coins should appear on Binance shortly.
How to buy NBB Coins on Binance?
As soon as your Bitcoin or Ethereum deposit is complete, you are ready to purchase Binance Coins. You will have to go through the following steps:
- Make sure that you are registered with Binance and go to the homepage. You will then see a list of markets and various crypto currencies. First you have to select the right market. Select "BTC Markets" for Bitcoin or "ETH Markets" for Ethereum. Then enter 'NBB' in the search field.
- The 'Binance trading' screen appears. Select the "Market" button to buy the NBB coin at the current market price. Then enter the quantity you wish to buy. Binance also gives you the option to use a percentage of your balance to buy crypto.
- Once you have clicked on the "Buy NBB" button, your purchase will be confirmed and your NBB coins will be displayed on your account.
How do I send BNB coins to MyEtherWallet?
If you intend to continue using your Binance-Coins for trading, you should leave them on the stock exchange. Otherwise, however, it makes sense to store NBB coins outside the exchange in a wallet. Stock exchanges are big targets for hackers and although Binance has first-class security, you should not take any risks.
To transfer Binance Coins from the stock exchange to the MyEtherWallet, please proceed as follows
- Copy your public address from MyEtherWallet
- If you are logged into Binance, click on "Funds" in the top navigation bar and select "Withdrawals".
- Look for NBB in the drop down list and insert your MyEtherWallet public address in the NBB payout window.
- Enter the number of coins you wish to withdraw and click "Send". Your NBB coins will then be sent to MyEtherWallet.
Important: Binance charges a fee for processing withdrawals. The fees change regularly. However, you can view the current payout fee for NBB coins here.
The Bitcoin-News.one team is a big fan of the Binance exchange. We like the different ways in which NBB coins can be used and the fact that Binance reduces the offer by burning coins. We are very confident that in the future there will be even more possibilities to use BNB coins and that this will drive up the price.
Binance has done many things right, such as the crypto currency exchange. There is little doubt that the NBB coin is more useful than any other crypto supported by the exchange. With Changpeng Zhao at the helm of Binance, we see a bright future for the exchange and NBB-Coin.