How to Buy Binance Coin (BNB) | Know the whole process of buying Binance Coin
Binance Coin (abbreviated as BNB) is a cryptocurrency that may be used to pay for Binance trading costs. When Binance first started raising funding to develop its exchange in 2017, it offered ten Binance tokens for every dollar donated. Binance initially distributed 200 million coins. Binance periodically buys back and destroys BNB so as to take care of the coin’s value.
If you’re purchasing a modest amount of BNB, you can keep it in your Binance account or utilize a free software wallet like Exodus or Coinomi. If you plan on amassing bigger amounts of BNB, though, you need to keep them on a dedicated device known as a hardware wallet.
The Ledger Nano X or the TREZOR Model T are our recommendations for a hardware wallet that can hold BNB. Both wallets are extremely respected and can hold over 1000 cryptocurrencies in addition to BNB. While the Model T is believed to be more secure, the Nano X has the added benefit of being able to connect to your smartphone.
Now it’s time to visit Binance and purchase some Binance coins. Binance Coin can be purchased with a credit card or wire transfer through the exchange’s “buy crypto” tab, or by exchange with another cryptocurrency through the “trade” tab. If you intend to keep huge amounts of BNB for a long time.
It is best that you move your coins in your hardware wallet. To do this you need to find out your BNB address. Each BNB address is a long string of letters and numbers that begin with “zero,” “x,” or “BNB.” After receiving your address, send your BNB to your wallet. Thus you have complete control over your coins.