Cryptocurrency exchange Binance for a relatively short history of its existence has gone from an unknown newcomer to a leader. Today, Binance is not just the No. 1 crypto exchange, but a popular ecosystem with its own cryptocurrencies and blockchain.
What is Binance Coin (BNB)
Binance Coin (BNB) was created to serve a young ecosystem. It was launched in 2017 based on the Ethereum blockchain. In 2019, Binance Chain was launched and the coin was moved to the native blockchain.
BNB is at the heart of the Binance ecosystem and serves several functions. It is used for commission settlements on the Binance decentralized platform and on the Binance Chain and Binance Smart Chain blockchains.
In addition, coin holders can trade on the platform with reduced commissions, and also get access to some unique offers. Also, BNB is already used as a means of payment for real goods and services through Binance Card and Binance Pay.
The coin entered the market at $0.50. In the spring of 2021, an all-time high of $690 was recorded. At the time of writing, Binance Coin is trading in a price range around $300.
The active rise in the BNB exchange rate in early 2021 was driven by the growing popularity of Binance Smart Chain. The positive dynamics coincided in time with the general market trend.
Like any other digital asset, BNB follows the general patterns of the market. At the same time, the demand for the coin is associated with the popularity of the Binance ecosystem, which provides the asset with greater stability compared to many other market participants.
Where to buy BNB
BNB is currently ranked 5th among the most catalyzed cryptocurrencies and is rightfully considered a promising asset for investors and traders.
Such a famous and popular coin is available on many cryptocurrency exchanges. You can buy a coin for fiat currency, or vice versa, sell 0.1 BNB to USD not only on the parent platform, but also on Coinbase, OKX, Kraken, Gemini.
Binance
Given the goals of creating the token, it is logical to expect that the minimum commissions for trading BNB and the maximum number of trading pairs with other assets should be found in the Binance ecosystem.
To start trading, you will need to register in the system and verify a new account. When all the formalities are completed, you will have access to the trading terminal.
Then proceed according to the following algorithm:
- Replenish your account in a convenient way for you from more than 60 supported by the platform.
- Create an order to buy BNB. It can be an instant trade or a pending order at a price that suits you.
- After executing an order, you can immediately open the next one if you see a signal to enter the market, wait for a signal or withdraw funds from the exchange storage to an offline wallet.
The Binance exchange has a simple and user-friendly interface, you can work with it from any device.
Binance DEX
If you are not satisfied with the prospect of revealing personal data, you can use the services of the decentralized marketplace Binance Dex. Unlike centralized exchanges, registration is not required here. To start trading, you just need to connect your crypto wallet to the site. The site works on the principle of an order book, although technically the mechanism is slightly different from the classic one. Please note that most DEXs do not support fiat currencies and to exchange 0.09 ETH to USD you will have to turn to the servants of other services.
LetsExchange
LetsExchange is an instant exchange service without cryptocurrency storage services. Registration is not required to use the service. You will need to do several things:
- Select the coin you are interested in in the upper window of the exchange widget.
- Specify the amount to exchange
- Select BNB in the bottom window.
- Specify the wallet address for crediting coins.
- Press the “Exchange” button.
The search for the most profitable deal, the completion of the transaction and the crediting of coins are performed automatically.
The site does not charge any additional fees other than the blockchain fee and works without limits on the amount and number of swaps.
