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A good number of crypto investors are buying into the native tokens of crypto exchanges. For example, Trust Wallet’s native token, TWT, recently gained over 77% last week despite the prevailing bear market. But what are native tokens? These are coins a project creates for its users.
An NFT project, an exchange, or even a DAO can create its token for transactions within its ecosystem. Native tokens of exchanges like BNB are usually in high demand because users can use them to save on transaction and trading fees. This guide will show you how you can get BNB without stress.
Best Exchange to Buy Binance Coin (BNB):
Although several centralised and decentralised exchanges allow you to buy and sell BNB, it is best to buy from the exchange below. It has a large volume of the coin all year round:
4. Prime XBT
Advantages and Disadvantages of BNB
How did Binance Coin (BNB) start:
Binance Coin (BNB) started as an exchange coin in 2017. It was created by Binance, owned by Changpeng Zhao, and quickly became a widely traded coin. Weeks after its launch, its price multiplied by more than 10 times. This sudden growth attracted more investors.
As millions of users flocked to Binance, the coin became important in trading and transactions on the growing exchange. Currently, the coin is the fourth largest crypto according to market capitalization.
How to buy BNB
You can buy BNB from any exchange: most exchanges list BNB, so it’s not a scarce coin. To buy BNB, you would need some crypto or cash. If you are using crypto, simply exchange your crypto for BNB using a BNB trading pair.
For example, if you want to swap your bitcoin for BNB, look for the BTC/BNB trading pair and press sell. If you prefer to use cash, deposit some money into your wallet and then proceed to buy any amount of BNB.
What can I use Binance coin to do?
Can I buy and sell BNB on other crypto exchanges?
Yes. You can buy and sell BNB on other crypto exchanges. BNB is a widely traded coin, so it is available on most exchanges, other than Binance.
Frequently Asked Questions
Yes, you can buy BNB in America. However, you should check if the exchange you wish to buy from has appropriate regulations before you think of buying from it. Some exchanges create a sub-exchange specifically for Americans because of the level of crypto regulation in the US. It is better to buy BNB from these sub-exchanges.