How to Buy Binance Coin (BNB) in December 2024

Binance is the world’s largest cryptocurrency exchange by market cap, a position that it has held for years, now. However, in order to use it to the best of your ability and unlock all the hidden perks of its entire ecosystem, you need its native cryptocurrency, Binance Coin (BNB).

Binance Coin has been a very popular crypto for a long time, which even allowed it to climb all the way up to the top 10 list. Its price also surged considerably, making it a great choice for investing, too. If you wish to know how to buy BNB, or if you were wondering where you can buy Binance Coin, then this is the guide for you.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Where To Buy BNB

If you wish to know how to buy Binance Coin, there are several platforms that we can recommend. Three, to be exact, and we have already mentioned all three earlier. But, if you wish to know more about them, here are the ones we can recommend.

1. eToro — The best online broker for buying BNB

eToro is the best online broker for buying cryptocurrencies, and for several reasons. It is regulated by multiple regulatory bodies, so it is perfectly safe to use from a technical point of view, and you can be sure that it will not try to scam you out of your money. It is also globally available, servicing over 140 countries, where it has more than 20 million users.

eToro is also extremely user-friendly, as it was designed for beginners and not experts. Its minimum deposit is only $50, while the minimum investment is $25. It offers crypto, stocks, CFDs, ETFs, forex, and a number of other assets that you can use if you wish to diversify your portfolio.

Next, eToro also doesn’t charge any commission for any asset on offer, which means that you don’t have to pay extra. It even allows you to trade assets with leverage, although leverage is very small for crypto-only x2.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

2. Binance — The coin’s native crypto exchange

Our second choice is Binance — BNB’s native platform. Binance is well-known as the world’s largest crypto exchange by volume, meaning that it is one of the most popular choices among traders from all corners of the globe. It offers hundreds of coins, and thousands of trading pairs, which makes it easy to buy BNB no matter which coin you may already have.

If you are located in a country that has an uneasy relationship with crypto, such as the US, you can rest easy as Binance also has multiple subsidiaries that are particularly tailored to offer crypto services for such locations.

And, as mentioned, if you happen to have BNB in Binance’s ecosystem, you can use it to get some pretty large discounts. Binance is also very beginner-friendly, even though it was developed with expert users in mind. It even has a trader forum where traders can turn to for advice from professionals. Binance also started its own NFT Trading Platform, making it one of the best options to get into NFT trading. We also teach where to buy NFTs in our comprehensive guide.

Your capital is at risk.

Note: Only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash, and Ethereum.

3. Coinbase — The biggest regulated US exchange for BNB fans

Finally, we have Coinbase — the largest crypto exchange in the US. Coinbase is a massive and 100% regulated exchange that also falls under the category of one of the largest platforms in the world, not just the US. It is a lot more conservative when it comes to listing coins than Binance itself, due to the strict US laws. But, the fact that it has the coin in the first place is an indicator that BNB is a safe investment and that it won’t turn out to be a security and lead to regulatory issues.

Coinbase also has a global reach, and is available in numerous countries around the world, with plans to spread out and reach even more of them in the future.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

4. OKX – One of the best cryptocurrency exchanges on the market

OKX is a Seychelles-headquartered global centralized crypto exchange established in 2017 that lists over 350 cryptocurrencies and supports more than 500 trading pairs operating in over 100 countries. It offers advanced financial services along with educational resources for investors taking their first steps in the crypto trading market.

Millions of users worldwide use it as a wallet platform as well, more exactly over 20 million users due to its impressive range of services, including flexible loans, new GameFi and Metaverse products, and ways to earn interest on staked tokens.

OKX wallet claims to be the “portal to Web3,” offering a crypto hot wallet, decentralized exchange (DEX), an NFT marketplace and decentralized applications (DApps). The wallet supports over 30 networks, including major blockchains like Bitcoin, Ethereum, BNB Chain, Solana, Polygon, Avalanche, Fantom and more.

OKX also has its own native blockchain – OKX Chain and native token – OKB, which allows builders and projects to deploy DApps and developers to use infrastructure like OKX Oracle and more.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

5. Crypto.com – The most notorious crypto platform

Launched in 2016 and founded in Hong Kong, the Crypto.com platform has become one of the largest in the crypto market, being used by over 70 million customers worldwide. It offers access to more than 250 digital assets for spot trading, with a subset supported for staking being suitable for both beginner and experienced investors looking to buy Binance coin.

Also available is Crypto.com’s coin, CRO. Lower trading fees, larger staking interest rates, and greater credit card rewards are all provided by the corporation to the traders if they own a sizable stake in CRO. The starting trading charge at Crypto.com is 0.40%. Fees as low as 0% are available to traders with high volume and big CRO stakes.

On the other hand, beginners could find the abundance of features daunting. For individuals who wish to do more with their cryptocurrencies than just purchase and hold, Crypto.com is generally the best option. It’s a useful site for traders who want to use cryptocurrencies for more than simply investments and for those who are active traders.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

What is Binance coin (BNB)?

Binance Coin is a native cryptocurrency of the Binance crypto exchange. It is a coin that can be used throughout the exchange’s ecosystem. That means two different blockchains, the main exchange platform, as well as multiple subsidiaries that are scattered around the world.

Binance also features a special launchpad, called Binance Launchpad. This is a great place to invest in the new cryptocurrencies that the exchange is launching.

Binance Coin is one of the many cryptocurrencies that the exchanges created to serve as their native tokens, and it is by far the most successful token of this kind in the entire cryptocurrency industry.

Why buy Binance coin?

There are numerous reasons to buy Binance Coin (BNB) and add it to your portfolio. For one, it is a coin with excellent performance, as mentioned previously, which skyrocketed in 2021 from $37 to an ATH of $690 in only 5 months. Also, Binance’s ecosystem is massive and filled with features. However, it only accepts BNB as a currency, which is why anyone who wishes to participate in it needs to own some.

Having BNB means getting a major discount on transaction fees on the platform’s exchange, and the ability to access and purchase all the new tokens that are being sold on the exchange’s launchpad. It is also paired with most other cryptocurrencies listed on the exchange, so it can serve as a gateway to accessing all other coins. And, finally, Binance also holds Binance Coin buy-back events and burning events, which keep reducing the circulating supply and making coins more valuable.

How much does it cost to buy BNB?

At the time of writing, Binance Coin’s price sits at $382.92. However, if you are interested in purchasing it on platforms like eToro, this is not the only thing that you need to keep in mind when buying your cryptos. You also need to remember that most platforms will charge you either commission or spreads when purchasing any assets. eToro, specifically, offers you to buy any asset on its platform — including cryptocurrencies — with 0% commission.

However, you will still have to pay spreads — the difference between the buy and sell prices of the coins. Fortunately, eToro’s spreads are fairly low, so you will not have to pay too much when purchasing the coins. There are often other types of fees that you need to keep in mind, such as the withdrawal fee, which eToro also has.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

How to buy BNB with PayPal

It used to be that you could only buy cryptocurrencies with PayPal if you used one of the P2P exchanges, which allow you to achieve an agreement with the seller, pay them directly from your PayPal to theirs, and then receive coins. That was no longer the only option as of last year, when PayPal listed cryptocurrencies on its own platform, finally giving into community demand.

Unfortunately, that still doesn’t mean that you can just go to PayPal and buy BNB, for two reasons. The first reason is the fact that PayPal only made cryptocurrencies available in the US and the UK, and people from other countries do not have the ability to access digital coins. The second reason is that even if you could access PayPal’s crypto section — Binance Coin is still not listed on it.

However, there is a third option. If you are willing to use brokers that support PayPal as a payment method, such as eToro, you can deliver your money to the exchange and use it to buy cryptocurrencies there.

How to buy Binance Coin with Bitcoin

Buying Binance Coin with Bitcoin is a much simpler thing. Bitcoin, as the world’s first, biggest, and most popular cryptocurrency, is available on pretty much every centralized crypto exchange, including Binance. You can, therefore, go to any crypto exchange that lists both coins and has them paired against one another, and use your BTC to buy BNB.

Buying BNB safely

If safety is your concern and you want to know how to buy Binance Coin safely, then you likely understand the risks of dealing with crypto better than most. Fortunately, it is very easy to do it, if you know where to go.

So, where can you buy Binance Coin without exposing yourself to unnecessary risks? The answer is simple: regulated platforms. eToro, as an example, is a platform that was regulated by some of the world’s largest regulatory bodies. This includes the FCA, ASIC, CySEC, and many others, so you can be sure that this platform is as secure as it can get.

Risks of buying Binance coin

Of course, whenever you engage with the crypto industry, you also need to be aware of the fact that there will be some risks involved. Binance Coin is not an illegal cryptocurrency, nor is it a controversial or scammy coin. However, even though it is 100% legitimate, it still suffers from just as much crypto volatility as every other coin out there.

It could easily happen for the price to suddenly drop at the wrong moment and cause you losses. So, if you eliminate unregulated and scammy platforms by choosing only the regulated ones, you will still have to worry about volatility.

Selling Binance Coin

If you already have Binance Coin but wish to sell it, either to realize profits, invest in some other crypto, or spend the money in some other way, this can easily be done through crypto exchanges or brokers such as eToro. We should point out, however, that eToro is only good for cashing out, but it doesn’t support exchanging one crypto for another. For something like that, you will still have a legitimate cryptocurrency exchange.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

The FCA lawsuit against Binance

The crypto industry is very unpredictable and full of surprises, and the situation can still turn around in the blink of an eye. The news shocked the crypto investors, and not only on November 21, 2023, Binance and its then-CEO, Changpeng Zhao (CZ), pleaded guilty to money laundering charges.

This settlement was reached months after Binance encountered legal troubles in the US. On June 5, 2023, the SEC sued Binance. US, alleging that they had broken securities laws. On October 17, 2023, Binance.US halted USD transactions in retaliation.

As a consequence, Binance consented to settle the lawsuits for $4.3 billion. In addition to contributing $50 million to the settlement, CZ resigned as CEO. Considering the breakup of the FCA lawsuit, Binance’s recent price decreased, as was expected.

Due to the lawsuit, and the change of CEO, Binance is facing some difficulties reentering the crypto market, especially in the UK. Residents of Hawaii, New York, Texas, and Vermont are not allowed to use Binance.US as of June 2023.

Although it caused some price changes for the BNB coin, Binance remains a trusted exchange used by millions for cryptocurrency transactions.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

How to invest in BNB on eToro

According to our research, the best way to buy Binance Coin would be to use eToro’s online brokerage platform. If you wish to take this route, here is what you will need to do:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Binance Coin price forecast for 2024

According to current price forecasts by some of the most popular price prediction websites, the BNB price is targeting a maximum of $700, and a minimum of $342. Meanwhile, its average price for the start of the year is targeting $360, which is around $20 below its current price.

However, as we enter into 2024, all three – minimum, average, and maximum price – are expected to see an increase as the year progresses and keep pushing up in years to come as well. Large cryptocurrencies (such as Bitcoin, Ethereum, or Binance Coin) are more resistant to market fluctuations, but this does not mean that they guarantee a higher level of security. Of course, this is no certainty, and traders and investors should not take it for granted.

The crypto industry is very unpredictable, and the situation can still turn around in a blink of an eye and become more positive or quite negative. Considering the FCA lawsuit against Binance, the recent price decrease of its native coin was quite obvious and expected.

Due to the lawsuit, and the change of CEO, Binance is facing some difficulties reentering the crypto market, especially in the UK, according to Bloomberg. Of course, it may trigger some price changes for the BNB coin, but crypto experts remain positive, claiming that by the end of the year, BNB coin will claim his positions back.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Conclusion

BNB is a popular and very useful cryptocurrency to have, but in order to obtain it, you need to know how to buy Binance Coin and, more importantly, where to buy Binance Coin. In this guide, we have provided you with a detailed answer to both questions, giving you several alternatives.

However, if we have to select only one, our recommendation would be to use eToro, as its benefits and features make it an obvious choice.

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