DeutschOur recommendation for buying Binance Coin:
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
The Binance crypto exchange has been the focus of numerous regulatory authorities for a long time. Even though the largest crypto exchange on the market, measured by trading volume, is already working on solutions, this has of course left a stale aftertaste. Nevertheless, this has hardly had a negative impact on the development of its own cryptocurrency Binance Coin (BNB), recently also just BNB. At the current time (March 2022), Binance Coin has been unchallenged in 3rd place among the most valuable cryptocurrencies for several months (excluding stablecoins).
Therefore, investors are also wondering whether it is still worth buying Binance Coin in 2022. Once you have decided to buy BNB, the question is where and how you can invest in Binance Coin. In this article, we will show you the different ways to invest in Binance Coin.
Where Can You Buy Binance Coin?
There are numerous trading platforms on the internet where you can easily invest in Binance Coin without high additional costs. However, there are also black sheep here. Therefore, you should thoroughly research the platform in advance and check its reliability and security. In the following, we have compiled an overview of the best providers that we have all tested and checked ourselves in order to invest in BNB.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
Regulated provider from Austria - specializing in trading Bitcoin, Ethereum, stocks and many other assets.
How Has the Binance Coin Price Developed in the past?
Looking at the price history of BNB, it quickly becomes clear that the cryptocurrency has had a very good development for years. This is certainly also related to the growth of the market itself and the Binance crypto exchange.
- BNB
(BNB) - Price $795.62
- Market Cap
$110.82 B
Even though Binance Coin has proven to be a very good and profitable investment in the past, this is no guarantee for the future development of Binance Coin. As with other investments, it is important that you familiarize yourself with the subject matter in detail and decide for yourself whether you think Binance Coin has a future.
What Do I Have to Consider when Buying Binance Coin?
Before buying Binance Coins, you should consider some essential questions to be on the safe side. These questions could be, for example:
- Should I buy real Binance Coins or rather BNB CFDs?
- How are Binance Cons safely stored?
- What costs will I incur when buying Binance Coin?
- How do I buy Binance Coins safely?
In our eyes, the last question is the most important. Because the foundation for buying Binance Coin is laid by the selection of the trading platform. Especially in the cryptocurrency sector, there are now numerous providers who promise you high profits. However, these often do not value your security when trading and downplay the risk. We have tested all of the providers we have presented ourselves. With these, you don’t have to worry that it could be a scam.
Buy Real Binance Coins or BNB CFDs?
There are several ways to profit from the performance of Binance Coin. The first is the simple purchase of real BNB tokens. With this you buy the Binance Coins in virtual form, can transfer them and have to take care of the custody yourself. This is always the right decision if you want to actively use the cryptocurrency.
However, if you only want to participate in the performance of Binance Coin, Binance Coin CFDs are probably the right tool for you. CFDs are certificates that reflect the price of an asset at a specific point in time. If the Binance Coin price rises, you earn money. If the price falls, you could also lose money. The special thing about CFDs is that you can also bet on a falling price. This allows you to earn money by the price falling. So if you don’t believe in a positive performance of Binance Coin, BNB CFDs are just right for you.
Note: With real Binance Coins, you are responsible for security. If your coins are lost, there is no way back on the blockchain. Therefore, buying CFDs is often better suited for beginners.
Buy BNB on Binance
Probably the most popular method to invest in Binance Coin is to use the publisher exchange Binance. After all, you benefit from buying Binance Coin especially when trading on the exchange. In the following, we want to take a closer look at the advantages and disadvantages of the exchange.
What are the Advantages?
The advantage is obvious. By owning BNB, you pay less trading fees on the Binance exchange. If you want to trade on the Binance crypto exchange anyway, it is definitely worth buying BNB on Binance as well. This is also advantageous if you own the crypto credit card from Binance. If you buy the Binance Coins on another exchange, you would first have to transfer them to your integrated wallet on Binance for the direct benefit. That would be unnecessary costs.
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
What are the Disadvantages?
The disadvantages are that you no longer have the option to deposit via SEPA on Binance. PayPal is also not supported by Binance. In addition, the lack of regulation and licenses means that your deposits on the Binance crypto exchange are not protected in German-speaking countries. A disadvantage that also arises on other exchanges is the fact that you often cannot pay with simple payment methods such as PayPal.
Buy Binance Coin on other Exchanges
Alternatively, you can of course also buy Binance Coin on other exchanges. Note that you will then not receive the benefits that you would otherwise receive on the Binance exchange. If you buy Binance Coin on another exchange like Kraken and transfer it to your wallet address on your Binance account, you will pay unnecessary fees. Therefore, buying on another exchange like Coinbase is only worthwhile if you are only interested in a rising price of Binance Coin (BNB).
Buy Binance Coin from a Crypto Broker
An alternative to crypto exchanges are the so-called crypto brokers. The difference between a crypto exchange and a crypto broker is quickly explained. While you always complete the trade with another person on a crypto exchange, your trading partner at a crypto broker is the broker himself, who offers you Binance Coins at a certain price.
Advantages of a Crypto Broker
We can essentially summarize the advantages of a crypto broker for an investment in Binance Coin briefly and concisely as follows:
- modern and user-friendly user interface
- usually licensed and regulated
- countless deposit options such as PayPal
- Trading with CFDs and real Binance Coins
Crypto brokers have positioned themselves as the first port of call for beginners when it comes to investing in cryptocurrencies such as BNB quickly and easily. The modern user interface and numerous deposit options such as PayPal, which create trust, enable users without greater know-how to buy Binance Coin.
Especially since many brokers like Bitpanda also offer stocks, ETFs and Co in their additional range. In this way, brokers open up a simple investment in cryptos such as Binance Coin to investors from the financial market without having to register on a new platform beforehand.
Furthermore, crypto brokers are generally licensed and regulated. This means that your money is safe to a certain extent in this case. This is not the case with many crypto exchanges. Another good thing about a crypto broker is that you usually don’t have to actively take care of the custody yourself.
Disadvantages of a Crypto Broker
However, crypto brokers naturally also have some disadvantages compared to crypto exchanges. The decisive disadvantage with some crypto exchanges is that you can only buy crypto CFDs. With Bitpanda, on the other hand, you can buy real Binance Coins.
Nevertheless, the fees for buying Binance Coin from crypto brokers are significantly higher. And while some brokers give you the choice of whether to take care of the custody of the Binance Coins yourself or not, with some brokers you cannot even determine this yourself, as you cannot transfer them despite buying real cryptocurrencies.
Buy Binance Coin with a Credit Card
If you want to buy Binance Coin by credit card, you have practically free choice.
The fees are capped as follows:
- Bitpanda: Credit card fee 1.79 percent
- Binance: Also no costs for deposits by credit card
Why Buy Binance Coin?
Why should you buy Binance Coin at all? You should ask yourself this question before every investment. Cryptocurrencies are now more than just a simple means of payment. Nevertheless, this is of course one of the reasons why you could buy Binance Coin: To use it as a means of payment in shops that accept BNB.
However, the largest proportion of Binance Coin buyers still hope for a rising Binance Coin price. Due to the upswing of the crypto exchange, it could well be that Binance Coin investors will continue to make profits in the future. However, always note the risks involved.
Conclusion: where is the Best Place to Buy Binance Coin?
Depending on what you want to do with the Binance Coins, other trading platforms are best suited. However, if you are interested in using Binance Coin to get the benefits of the Binance crypto exchange, then you should ideally choose Binance. An alternative in this case is of course also the possibility of simply buying Binance Coin with PayPal via Bitvavo and then transferring it to the Binance wallet. In this case, however, consider the transaction fees.
With several hundred thousand customers worldwide, Binance is one of the top 10 largest and most well-known exchanges. The use of the exchange is free of charge, with fees only applying to the purchase and exchange of cryptocurrencies.
