Buy Binance Coin [BNB]
Binance (BNB) is a crypto asset at the core of the Binance ecosystem. It’s one of the most popular utility tokens in the world. BNB is one of the top 5 cryptocurrencies by market capitalization,, and it’s been a while since the asset has grown bigger than a mean of payment on Binance. In this article, we will describe the token, as well as ways to buy it.
What is BNB?
Binance coin was announced with an initial coin offering (ICO) in 2017, and 10 days after it, the Binance exchange was launched. Initially, BNB was an ERC-20 asset with a total supply of 200 million tokens. However, in 2019 the Binance Chain was launched, and BNB tokens based on Ethereum were shifted to BEP2 standard. In 2020, after the Binance Smart Chain launch, BNB became native to both BC and BSC.
Every quarter, Binance burns tokens to maintain the scarcity of BNB. The amount of burned tokens depends on the trade volume during the past three months. The elimination of BNB will continue till its emission shortens by half.
How do I buy Binance Coin?
What to do with Binance Coin
How to use Binance (BNB)?
As the Binance ecosystem develops, new ways to use BNB emerge. Apart from trading, the token can be used in DeFi, on NFT marketplaces, and decentralized exchanges. Holders can use BNB as a pledge for crypto credits, a payment method, and as a mean of passive income. The asset is widely used outside the Binance ecosystem. Holders can use BNB to pay for goods and services up to buying real estate.
Where to Buy Binance Coin (BNB)?
BNB cannot be mined using PoW. However, there are plenty of ways to purchase it. The most popular are:
- centralized exchanges like WhiteBIT, where users can buy BNB via trading;
- P2P platforms like Bitcoin Global, where the asset can be purchased directly from other users without 3rd party interference.
How to Purchase BNB on WhiteBIT?
On WhiteBIT, you can place an order to buy BNB. The trade pairs are BNB/USDT and BNB/BTC. How to place an order:
Top up your USDT or BTC balance.
- Use the exchange feature or pay with a credit card or e-payment services.
- On the Trade page, choose the pair in the Market frame.
- Choose the order type.
- Enter the amount and a sum, then place an order.
Ready! As soon as the order is executed, you can use BNB.
- How to use it.
- Centralized exchanges.
- P2P platforms.
- Place a BNB/USDT order.
- Place a BNB/BTC order.