How To Buy BNB in 2021 | Step-by Step Beginner's Guide

Anisa Batabyal
| 30 December, 2020 | 2 min

How To Buy BNB

Binance Coin (BNB) is the creation of Binance, one of the largest crypto exchanges in the world. BNB was created in 2017, which was initially issued as an ERC20 token, but eventually transferred to mainnet. BNB is a utility token, mainly used for users to receive discounts while paying their trading fees. The fee discount gets decreased gradually after every quarter until it reaches 0% on the 15th of July, 2021. Binance coin can also be used to pay for travel expenses like for flight bookings.

How To Buy BNB With USD

One of the easiest ways to buy BNB with USD is by going directly to the CoinSwitch page. On the landing page itself, you can find an option where you have to click on “buy with credit card”, which will take you to the next page. CoinSwitch is partnered with Simplex, which enables the users to buy BNB, Bitcoin, Litecoin, BCH, XRP, and ETH in a seamless manner. You can buy with fiat currencies like USD or Euro, wherein you can check the amount you have to pay in order to buy, say 50 BNB.

But do remember- if you are the first time user, your maximum limit for a day can be somewhere in between $50 to $10,000. After that, you get a higher limit which becomes 20,000$ for a day and $50,000 for a month. At CoinSwitch, you need not worry about anything as you will experience faster transaction processes, with 24/7 customer support resolving queries at its best.

Follow these simple steps when buying BNB with USD:

#1 Sign Up

This is the first step when you want to initiate buying BNB with USD. You should try and finish off the sign-up procedure right in the beginning in order to avoid unnecessary delay in the transaction. You can check out the offers also before signing up.

#2 Provide With The Details

This is a critical step where you need to provide with the necessary details required for the transaction process. You need to give your BNB address and the Memo, so that everything is done in a process-oriented way. All the user details are safe with the exchange as it is a policy for them to protect the user’s privacy.

#3 Know Your Customer (KYC)

In this step, you need to give certain details which include personal details, which should be validated by giving an ID proof. Give your credit card details, along with your photograph which is asked by most of the exchanges. After this process gets over, you can make a transaction and then check out.

How To Buy BNB With Debit Card

CoinSwitch even accepts debit card payments, which is powered by Simplex. The process to buy BNB with a debit card and a credit card is the same. So you can follow the above-mentioned steps to buy BNB with a debit card. 

CoinSwitch is supported in many countries like USA, Russia, Singapore, and many other countries and has many advantages like less Fee and faster transactions with a guaranteed 24/7 query resolution

How To Buy BNB With Credit Card

Same as “How To Buy BNB With USD”

How To Buy BNB With Altcoins

BNB in itself is an altcoin and you can buy BNB with other altcoins and even Bitcoin at CoinSwitch in a very convenient way. You will get to choose amongst different exchanges’ rate as per your feasibility. CoinSwitch supports more than 400 cryptocurrencies with more than 45,000 trading pairs like BNB to ADA and many more. You can convert, compare and trade at CoinSwitch easily as it is a one-stop-shop for all your trading needs.

Buy BNB at the best rate at CoinSwitch at the most competitive rate and know how to buy BNB without any registration at CoinSwitch platform. Let’s know the steps involved in buying BNB:

#1 First, you need to check the exchange rate for the respective altcoin you are using to buy BNB, say, for instance, let’s take Litecoin:

#2 After this, you can check out the different offers with the different exchanges, compare and choose the best rate, for instance, let’s take Binance here.

#3 Then you just have to put the BNB address of the wallet, where it will be deposited. Post which you can initiate the exchange.

Should You Invest In BNB?

BNB is one of the fast-growing cryptocurrencies and there are a lot of factors that are helping it to grow rapidly. As it is Binance’s own token providing some discount offers with people trading with BNB, people are more inclined to buying or trading BNB. It has a great future with roadmap discussed, enabling its community to grow exponentially. But its always advised doing thorough research before taking any trading decisions.

About CoinSwitch is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!