You can also donate BNB to charity or send them as a gift to someone else. They can be used to make payments for lottery tickets, travel, gift cards, etc. One could also use BNB to make payments for goods and services purchased on certain platforms. One can use BNB to pay their transaction fees on platforms such as Binance chain, Binance DEX, and If you purchase Binance coins today, you can use them for the following applications on different platforms Today, however, it’s used on various platforms for multiple purposes.
#Buy binance coin how to
How to Spend Your Binance CoinsĪt the time of its creation in 2017, Binance was a utility token for discounted trading fees. That way, you get absolute control of your coins. Once you’ve got the address, send your BNB there. Each BNB address is a lengthy combination of numbers and letters that often begin with either a zero, X, or BNB.
#Buy binance coin software
If you are storing huge amounts of BNB in a software wallet for a long time, it’s better to transfer these over to a hardware wallet. The Model T can connect to mobile phones.
Hardware wallets cost money but can store more than a thousand cryptocurrencies including BNB and are reputable. Recommended hardware wallets include the Nano X and Model T. If you intend to accumulate large amounts of BNB, it’s safer to store it in a hardware wallet. This is the reason one should only store small amounts of BNB coins in them.
#Buy binance coin free
Software wallets, for instance, Exodus, and Coinomi, though free to use, are less secure. If you buy BNB in a small amount, you can either keep it on a free soft wallet or a Binance exchange account. How to Store Binance Coinĭepending on how much Binance coin you plan to buy, you can store it either in hardware or software wallets. Choose the amount you want to convert and set a price limit. Go to trade, and then choose the cryptocurrency you want to convert to BNB. Look for the cryptocurrency you want to trade. Go to your wallet, and then find your spot wallet. If you already have some cryptocurrency on Binance, all you have to do is log into your account. Buying Binance by Trading Other Crypto Currency for BNB
A page comes up where you have to enter your card details and confirm the purchase. Type in BNB in the search button on this page and select ‘Binance Coin’.Īfter this, you can select the currency you want to use for payment, type in the amount you want to spend (check the BNB equivalent of whatever amount you plan to spend) and click on buy BNB. From there, you are taken to a page where you get a list of options on cryptocurrency to buy. To do that, find the ‘buy crypto’ button, then click on credit/debit card. If you are paying with a credit card, you don’t have to go through the steps above but can go straight to buying cryptocurrency using your credit card. Once you have the money in your Binance account, click on ‘buy crypto’ and go to ‘cash balance.’ Wire transfers could come with expensive bank fees, so always confirm this before starting the process. Check the status of your payment by clicking on the wallet, fiat, and spot wallet.
#Buy binance coin code
Don’t forget to use the code while making the transfer.Īfter making the transfer, you have to wait for one to two days for the money to show up in your account. At this stage, you get a reference code for the bank transfer. Here you can find all the relevant information you need for your bank transfer. Enter the amount you want to pay and hit the ‘continue’ button. Click on deposit and choose your preferred currency. If you’re choosing to deposit fiat money through a bank account, find the wallet button on the top right corner of the site, then go to fiat and spot wallet.
You could either use a credit card or deposit fiat money through a bank account. This step is called, Know Your Customer (KYC) and exists to prevent money laundering. To verify your account, send in a photo of yourself holding your government ID document. It is different from verifying your e-mail address. You can also choose to do it at the time of registering your account. You can verify your account later, before you withdraw your coins or if you intend to buy your crypto with fiat money.
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