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Binance Coin (BNB) has witnessed meteoric growth since its ICO. It was in July 2017, when Binance started raising funds for the operations of its cryptocurrency exchange. As part of the ICO, a token called Binance Coin (BNB) was launched. At that time the price was set at US$0.1 per BNB. The price of the coin increased considerably since then, making it one of the most successful ICOs of all time.

What is a Binance Coin (BNB)? 

BNB is basically an ERC-20 token. It means that it is a token on the Ethereum network. This coin is accepted as payment on Binance for trading fees. A discount on fees is available when you use the BNB token.

 

How is it Distributed?

200 million BNB tokens are there in total. While 100 million tokens are distributed for the investors of ICO, 80 million (accounting for 40%) tokens for the founding team, the rest 20 million (accounting for 10%) for the private angel investors.

 

To maintain the value of the token and also make it somewhat deflationary, Binance has planned of using 20% of the company’s profits in buying back BNB tokens until the supply available in the market is capped at just 100 million. Binance will destroy the purchased 100 million BNBs in the future.

 

A decentralized exchange will be built by Binance in the future where BNB tokens will be used as one of the main assets as well as gas for spending.

 

How to buy Binance Coin (BNB)? 

Here is a step-wise guide for you to purchase Binance Coin (BNB).

 

Step 1: Get a Binance Coin Wallet

Here are 4 wallets that you can buy from:

  1. Ledger: Hardware wallet
  2. Trezor: Hardware wallet
  3. Coinomi: Mobile wallet
  4. Binance: Web wallet
  5. Atomic Wallet: Desktop and Mobile wallet
  6. Exodus: Desktop and Mobile wallet

 

If you have plans of holding BNB tokens for a longer time period, you should choose from the hardware wallets because they give your cryptos the best security.

 

Step 2: Find a BNB Exchange

Binance exchange is the best broker where you can trade BNB. You can purchase a BNB token with all the assets supported by Binance. You can also make payment with a credit card if you wish. However, it will come with a higher fee.

However, there are other cryptocurrency exchanges too from where you can buy Binance Coins. Some of the best ones besides Binance are:

  • eToro
  • Crypto.com
  • KuCoin
  • CoinSwitch

 

Step 3: Open an Account with an Exchange

Once a brokerage/exchange is selected, open an account. It would ask for certain personal information while opening an account. Most exchanges ask for the following information about the user:

 

  • Full Legal Name
  • Address
  • Phone Number
  • Email Address
  • Government-issued photo ID’s copy (such as passport, driver’s license, or military ID)

 

It takes just a few minutes to open an account. However, verification of the user identity may take a longer time in some cases.

 

Step 4: Fund Your Account

Once an account is opened, you have to link a funding or payment method so that you can transfer the money from your source of payment to the concerned brokerage account. Most brokers provide direct bank transfers and credit/debit cards as payment methods. Depending upon the broker or payment method, it may take anywhere from a few hours to few days for linking the payment source with the account.

 

Step 5: Buy Binance Coin

You can place orders for buying Binance Coin (BNB) through your account with the exchange. Check the current price and place an order. Binance Coin is the third-largest crypto in terms of market capitalization. It is currently (as of April 28, 2021) trading at a price of US$558.45 per BNB. In the last 30-days, its price has increased by over 100%. In the last 4-months in 2021, Binance Coin’s price has jumped by 1,387.28%.

 

Step 6: Transfer Your BNB Tokens to a Wallet

Once an order is fulfilled, the  Binance Coins are transferred to your account. If you want to hold, you can secure the coins in a wallet by using your private keys. For long-term holding, storing ADA on a hardware wallet is recommended.

 

Choose Cryptocurrency Copy-Trading Bots to Increase ROI

Cryptocurrency Trading Robots (such as NapBots.com) automatically scan the market in real-time and trades for you. They run 24/7, which means that you can keep earning your passive income even when you are sleeping. This gives you an edge over other investors as it enables the bot to book profits on your behalf when other investors are sleeping.

 

Smart crypto investors always remain prepared to get the best of a big market move. They don’t wake up suddenly. To remain alert round the clock, they use cryptocurrency trading bots so that they don’t miss any big market movement.

 

NapBots.com is a Trading Bot, cloud-based platform, on which you can connect to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda.

 

The best thing about the Napbots trading software is that you don’t have to monitor charts and candles to predict your next move. Any novice trader with zero skills can also start trading like a pro and earn money with this unique trading tool. Let Napbots take full control over your trades in just a few clicks. Now, sit back and enjoy earning money.

 

You may also check “Napbots Review – Simple Way To Increase Your Crypto Returns” before taking the plunge.

 

What’s so special about NapBots?

NapBots crypto trading software is special because it comes with:

  1. A unique trading algorithm that processes market data for you
  2. A unique crypto trading bot library so that you can create your own mix of trading strategies
  3. Autopilot mode that enables you to automate trading 24×7
  4. An easy-to-use interface so that you can copy the proven strategies of NapBots to make successful trades and make money

 

How does NapBots help you to Make Money?

With NapBots, you can enjoy financial independence by trading cryptocurrencies on autopilot mode and earn money automatically. To make it work on your behalf, you have to do the following:

 

Step #1: Connect to one of the available trust exchanges.

Step #2: Select from the unique list of performing Bots of NapBots

Step #3: Choose a plan that suits your investment style

 

Once you have completed these three steps, NapBots is ready to trade cryptos and earn money for you. Happy Trading!

 

Why Choose NapBots?

  • NapBots offers complete trading automation solutions through the use of its own tested trading strategies; offering quantitative trading strategies previously reserved for hedge funds to the public.

 

  • The setup and installation process are easy. So, the non-experts can also use it. The simple and special approach of NapBots helps it provide you with excellent ROI.

 

  • The team of professionals behind NapBots has extensive experience in the financial market. They have put their years of experience in place so that you can easily automate the management of your funds with no technical skills. This service can run 24/7 and work as your passive source of revenue even when you sleep.

 

Our pricing is simple and there are no setup fees. 7 days free trial is also available.

 

Are You Ready To Start Automating Your Passive Income Now?

Related Resources:

 

If you still need assistance, you can refer to the following step-by-step purchasing guides for the various payment methods: