The Binance Coin (BNB for short) is the proprietary cryptocurrency of the Chinese platform Binance.

There are currently 200 million Binance Coin tokens. They can be purchased on the internal platform or exchanged for other cryptocurrencies.

Therefore, the advantage is clearly in the trading costs. If you follow the data of the cryptocurrency exchange Binance, then there is a discount of 50 per cent in the first year, in the second year it is 25 per cent and in the third year it is 12.5 per cent.

Even in the fourth year, there is still a discount of 6.75%.

But with either cryptocurrency broker, there are excellent alternatives available, which in turn can present strong arguments. Thus, one can buy the Binance coin directly or go short with derivatives.

Another aspect that should not be ignored: In the past, the NBB has repeatedly managed to attract attention with price increases.

The BNB, i.e. the cryptocurrency of the Chinese trading platform Binance.com, is available to Austrians, Germans and Swiss. However, anyone who wants to purchase a Binance coin (or several coins) needs a Binance account beforehand.

Even if you are interested in another cryptocurrency, it is worth considering opening an account on the platform. Finally, the Binance platform is one of the largest exchanges in the world: there are more than 100 different cryptocurrencies.

Where to buy cheap Binance Coin? Our comparison of brokers and exchanges – Buy Binance Coin with the lowest commissions:

A look behind the scenes at the NBB

Behind Binance Coin is the Binance platform of the same name. The name says it all, because it is made up of the words “binary” and “finance”.

Therefore, the trading platform wants to make it clear from the outset that there is only the possibility to trade cryptocurrencies with each other, so fiat currencies are excluded.

At the beginning, Binance focused only on China – a good decision. After all, today the Binance Coin has become one of the most important cryptocurrencies in the world – currently the market capitalisation exceeds 1.1 billion euros.

The technical aspect

In total, there are 200 million coins based on ERC 20 tokens, the Ethereum standard. The ICO sold 50% of the coins, 40% went to the team and 10% to investors.

A wide range of

The Binance platform has attracted attention not only because of its own cryptocurrency, but also because it has created a very comprehensive offering.

Thus, there are other cryptocurrencies besides Bitcoin – such as the NEO Coin, Bitcoin Cash, Iconomi or even the QTUM Coin.

How to buy Binance Coin with euros in Germany? A beginner’s guide to buying Binance Coin with eToro:

Step 1: Set up the account

Although it is Binance Coin, we recommend buying this coin at our test winning broker, eToro. This is because eToro offers much better conditions for buying Binance Coins than Binance.

Creating an account on Binance is relatively simple and will not be a challenge for beginners. Click here to sign up.

In the end, all you need is a valid email address and a self-generated password – after that, you will receive an email with a confirmation link that you have to click on.

If the Binance platform is to be used, the so-called 2-factor authentication is recommended. In this case, the “Google Auth” app is required, which can be downloaded free of charge from the relevant app shop.

Thus, when logging in, not only a password is required, but also a code that is communicated via the app and changes at regular intervals.

In this way, the security, which is already quite high on Binance, can be increased a little. The same security mechanism can also be used on the Coinbase platform.

Purchasing without verification is possible as long as the total amount does not exceed the 2 Bitcoin mark. Verification usually takes three working days, as employees continue to check the documents by hand.

Stage 2: The repository

Before you can buy Binance Coins, you must, of course, make a deposit in advance. Only if there was a capitalisation of the account in advance, you can also buy coins.

The heading “Funds” takes the user to “Deposits”. Which cryptocurrency should be used? The choice is wide, but what if you don’t have any digital currencies yet?

Of course, there are other platforms besides Binance through which coins of various cryptocurrencies can be acquired via fiat currency. Since it is currently not possible to exchange euros for Binance coins, an alternative is needed beforehand.

eToro

Our favourite way to buy Binance Coins outside of the Binance platform is eToro. The well-known ad broker not only offers Bitcoin or Ethereum, but also offers the possibility to buy BNB quickly and securely.

With a variety of payment options, there is no need to own cryptocurrencies beforehand with eToro.

Step 3: Buy Binance Coin online with euros

After registration

If one has registered on the Binance platform, the customer now clicks on “Exchange”. Subsequently, there is the option “Basic” and “Advanced” – in the end it hardly matters, because you can buy Binance Coins in both cases.

Pay attention to the default settings

 In the top right corner, the default cryptocurrency is Bitcoin. If you want to use another cryptocurrency, there are several alternatives available, such as the Ether dollar, the BNB token or even Ethereum.

Typing “BNB” in the search field automatically creates the trading pair BNB/BTC, i.e. Binance Coin and Bitcoin.

 

take into account the price

A click on the trading pair takes the trader to the next step. Beforehand, there are still numerous notes and information about changed prices or the current price.

Now it’s a matter of how much you want to buy Binance Coins. Once the decision has been made and confirmed, the purchase is complete: the purchased coins are transferred to the wallet, the digital wallet.

Also pay attention to the tariffs

Of course, the applicable fees should not be disregarded in any case. Anyone buying via Binance should also be aware that there are fees.

For each purchase, commissions are generated, amounting to around 0.1% of the turnover. However, compared to the fees of other cryptocurrency exchanges, this is quite low. Please note the discounts offered by Binance and the referral bonuses that can be charged for trading with Binance Coin.

In addition, with Binance, your trading volume also has a significant impact on your pros and cons when trading Binance Coin.

Level

BTC trading volume

and/or

GNP account balance

Manufacturer/manufacturer

Maker/Taker BNB 25% discount

Manufacturer/taker BNB and remission 25%*20% *20% BNB and remission 25%*20

VIP 0

< 50BTC

o

> 0BNB

0,1000%/0,1000%

0,0750%/0,0750%

0,0600%/0,0600%

VIP 1

> 50BTC

 

> 50BNB

0,0900%/0,1000%

0,0675%/0,0750%

0,0540%/0,0600%

VIP 2

> 500BTC

 

> 200BNB

0,0800%/0,1000%

0,0600%/0,0750%

0,0480%/0,0600%

VIP 3

> 1500BTC

 

> 500BNB

0,0700%/0,1000%

0,0525%/0,0750%

0,0420%/0,0600%

VIP 4

> 4500BTC

 

> 1000BNB

0,0700%/0,0900%

0,0525%/0,0675%

0,0420%/0,0540%

VIP 5

> 10000BTC

 

> 2000BNB

0,0600%/0,0800%

0,0450%/0,0600%

0,0360%/0,0480%

VIP 6

> 20000BTC

 

> 3500BNB

0,0500%/0,0700%

0,0375%/0,0525%

0,0300%/0,0420%

VIP 7

> 40000BTC

 

> 6000BNB

0,0400%/0,0600%

0,0300%/0,0450%

0,0240%/0,0360%

VIP 8

> 80000BTC

 

> 9000BNB

0,0300%/0,0500%

0,0225%/0,0375%

0,0180%/0,0300%

VIP 9

> 150000BTC

 

> 11000BNB

0,0200%/0,0400%

0,0150%/0,030%

0,0120%/0,0240%

COURTIER RECOMMANDÉ

Alternatively, our recommendation: Buy cryptocurrencies at eToro.

  • Portfolio included
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  • Real cryptocurrencies or CFDs

Exchange Bitcoin for Binance Coins

 

Register on the platform

At the beginning, registration on the platform is again on the agenda. If you already have an account, you do not need to enter all the data requested during registration, i.e. after clicking on the link sent to you by email.

After logging in, click on “Funds”. Now click on the “Deposit withdrawal” option.

This is because bitcoins (or coins of another cryptocurrency) have to be deposited in advance: an exchange is only possible if there are coins in the digital wallet.

Exchange Bitcoin for Binance Coins

The “Deposit” button generates the “Receiving address”. That is, this is the address to which the coins are subsequently transferred.

This step is only possible if there are already coins in the purse.

If not, the coins must be purchased in advance and then sent to the wallet. At this point, however, it should be mentioned that it can take around 24 hours until the transfer is complete, i.e. the Bitcoins – or other cryptocurrency – have been credited to the Binance wallet.

Only then, when there are coins in the wallet, you can exchange them for Binance coins. In this case, simply click on the Binance logo and you will be given an overview of the transactions.

Enter BNB in the search field and now click on BNB/BTC if you want to exchange for Bitcoin. The exchange is done within minutes.

If you wish to exchange your Bitcoin holdings for Binance Coin, you can specify in advance what percentage of the exchange should take place: for example, 25%, 50%, 75% or even 100%.

If you want to exchange BNB for Bitcoin, click on “Buy BNB” and confirm the transaction. The total costs are then displayed, in this case in Bitcoin.

Buy Binance Coin with Paypal

Currently, not many platforms offer the option to buy BNB tokens with PayPal.

Even binance.com does not offer this option. Depositing is very simple: a click on the “deposit money” button takes the user directly to the secure PayPal page for the deposit.

The e-mail address and the beneficiary are assumed directly, so you only need to confirm the amount.

After the deposit, you can normally choose from which credit or account PayPal should collect the money.

Why is it worth buying BNB Tokens with Paypal?

  • Direct deposit
  • Buyer protection
  • No transmission of banking data
  • Simple payments
  • indication of a serious broker

Fees when buying Binance Coin with Paypal

The use of PayPal is always free of charge for end customers, the fees charged by PayPal are usually borne by the supplier.

Of course, it happens that the supplier tries to pass on the fees to the buyer, but otherwise the deposit via PayPal is free of charge.

Sell Binance Coin

As a general rule, BNB can be exchanged on the platform for various cryptocurrencies.

This means for the trader that he can also sell the Binance Coin against the Bitcoin – this option is available under “Exchange”.

Conclusion:

If you want to buy Binance Coins, you should first investigate the Binance platform. After all, the Chinese provider launched Binance in the first place.

At this point, however, it must be said that you can only exchange for cryptocurrencies. If you want to exchange euros for Binance coins, it is advisable to do so via our test winner.

 

 

 

 

 

 

Buying coins on Binance: Frequently asked questions

How has the price of cryptocurrency behaved?

In November 2017, the price of the Binance Coin was trading at €0.11; on 6 January 2018, the cryptocurrency reached an all-time high of €20.26. However, Binance Coin also suffered a slump: at the beginning of February, the cryptocurrency was trading at €3.73. Today, the price is between €8 and €9 – the market capitalisation is more than €1.1 billion.

 

Through which platforms to invest in Binance Coin?

If you want to invest in Binance Coins, you can choose the Binance platform or even our recommended test winner.

 

What is the difference between a broker and a stock exchange?

Options brokers only use cryptocurrencies as assets, while exchanges allow direct trading of assets.

So if you really want to buy Binance, you will have to go through the Binance exchange directly.

 

Is it possible to exchange fiat currencies for Binance Coins?

The exchange of fiat currencies against Binance Coins is possible via our test winner – only cryptocurrencies can be traded via Binance. Therefore, a deposit at Binance is always made via cryptocurrencies.

 

Are there any discounts?

Yes, Binance offers a 50% discount for the first year. In the second year the discount is 25%, in the third year 12.5% and in the fourth year 6.75%.

 

 

 

 

 

Does Binance offer customer support?

Yes, there is an extensive knowledge base, as well as a ticketing system for registered users.

 

Do I need a Binance wallet?

Only if you really want to have the currency in your own wallet. You can also trade without a BNB wallet through the broker Binance.

Binance itself creates a separate wallet for all customers and keeps most coins in cold storage. However, there are other online wallets, paper wallets and also hardware wallets that are suitable for managing, sending and receiving Binance.

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