How to buy Binance Coin (BNB)?
The Binance Coin is Binance's own cryptocurrency. The exchange only allows cryptocurrencies to be traded with one another. With the Binance Coin, customers can exchange directly for a variety of the cryptocurrencies offered on Binance. The advantage of the Binance Coin lies clearly in the costs that have to be paid for trading. According to the crypto exchange, customers receive a 50% discount in the first year of use of the Binance Coins. If you are still unsure whether you should buy the Binance Coin and you want to know what the pros and cons are, our experts have put together some important information for you. Unlike other cryptocurrencies, most investors with Binance Coin are primarily concerned with being able to trade as cheaply as possible. It is therefore twice as worthwhile for newly registered customers on Binance. With a 50% cost saving, it makes sense to put the money stored directly in the Binance Coin.
Should You Buy Binance Coin?
If more customers are registered and trade there, the higher the demand for the Binance Coin grows. If you want to buy the Binance Coin, it can make sense to do so immediately in order to be able to go out of business with a profit in a few weeks or months. However, there are also negative aspects that you should consider when making your decision. For example, the price is strongly linked to the success of Binance. Should there be a new, globally operating, and simply better crypto exchange, the demand and thus the price of the Binance Coin may fall. Problems can also arise quickly in the event of a hacker attack. The currency is intended exclusively for Binance, which brings some risks with it. Buying Binance Coin to actually trade with other currencies still seems attractive.
Those responsible work absolutely legally. So you don't have to worry that buying Binance Coin will be stopped at the beginning. In the beginning, it is important to create an account, which takes place with our website of the exchange. After entering your first and last name, all you have to do is enter a password and your email address. Pay attention to special security here so as not to allow your account to be hacked. A confirmation code will then be sent to you by email, which you can then enter. The first step to buy Binance Coin is half done.
However, in order to be able to purchase cryptocurrencies directly, it is also crucial to carry out the correct verification of the person. We give you different options to choose from. All you need to do is present your passport or, alternatively, your identity card. These, in turn, can be submitted to those responsible in some ways. On the one hand, new customers have the chance to take a photo with their PC. This is absolutely necessary in order to be able to buy the Binance Coin. However, we recommend that you briefly scan the documents and upload them accordingly. During the process of buying Binance Coin, it happens again that you need this data for verification. If you continue trading, it may happen that the documents have to be submitted. So it is worthwhile to directly secure the confirmation of your identity in the process of buying Binance Coin and to be able to easily access it later.