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How to Buy Binance Coin in the UK

If you want to buy Binance Coin but don't know how to start, you've come to the right place. In this guide we list the best platforms to buy BNB, how to make your purchase step-by-step and how to sell your coins.
Buy Binance Coin UK
Buy Binance Coin UK

Binance Coin (BNB) launched in July 2017 as the native token for the popular Binance exchange, used for discounted trading fees. The demand for BNB is linked to the popularity of the Binance exchange – its valuation rose from under $1 to over $600. This guide explains how to buy Binance Coin and what the future holds for the crypto.

Contents [show]

    Where to Buy Binance Coin in the UK – Quick Guide

    1. Choose a cryptocurrency exchange – we recommend eToro which is licensed in the United Kingdom
    2. Create and verify you account
    3. Deposit funds into your account
    4. Search ‘Binance Coin’ in the drop-down menu
    5. Click ‘Trade’, select an amount of BNB to buy and open the trade

    Best Places to Buy Binance Coin in the UK in July 2022

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    for £1000 you get4.9275 BNB
    Features
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    for £1000 you get4.9275 BNB
    68% of retail CFD accounts lose money.
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    This section highlights some of the best platforms to buy Binance Coin this year. They are:

    The brokers listed above were chosen as the best brokers available to buy BNB because of their unique features. These platforms provide a combination of low fees, quick transactions, and are easy to use processes. These platforms make it easy to buy and sell BNB. They are also very safe and secure platforms as they are regulated brokers. All conduct proper checks to comply with anti-money laundering (AML) and know-your-customer (KYC) policies.

    Compare UK Platforms to Buy Crypto

    broker-logo
    68% of retail CFD accounts lose money.
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    The price and value of any investment in digital asset products can fluctuate.
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    As with any asset, the values of digital currencies may fluctuate significantly.
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    The traded price of digital tokens can fluctuate greatly within a short period of time.
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    The value of digital currencies can go up or down frequently.
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    Market prices for digital tokens can be volatile and highly unpredictable.
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    Mobile App
    Wallet
    Number of Coins
    1402253345913
    Trading Fees
    Spreads0.1%0.1%0.1%0.50%0.1%
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    $50.0005 BTCN/AN/AN/AN/A
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    ASIC, CySEC, FCAN/AFCAN/AFCAN/A
    Min. Deposit
    $50N/A$10N/A$2$10
    Leveraged Trading
    N/A1 - 100x1 - 100x1 - 100xN/A1 - 10x
    Bitcoin
    £16914.67£16925.66£30761.62£30738.22£30756.78£30752.96
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    £969.09£951.73£2129.82£2127.84£2128.20£2128.38
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    £0.28N/A£0.59£0.18£0.23N/A
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    £0.84£0.84N/A£0.76£0.76N/A
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    £42.65N/A£83.06£82.98£82.98N/A
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    £89.53N/A£224.68£385.38£224.55N/A
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    £5.28N/A£11.18£10.85£11.16N/A
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    £0.39N/A£0.63£0.63£0.63N/A
    IOTA
    £0.24£0.23£0.23N/A£0.23£0.53
    Binance Coin
    £202.94£198.24£293.82N/AN/AN/A
    Stellar
    £0.09N/A£0.14£0.14£0.14£0.06
    Bitcoin SV
    £45.82N/AN/A£138.88N/AN/A
    USD Coin
    £0.85N/AN/A£0.76N/AN/A
    EOS
    £0.85£0.82£1.57£1.57£1.56£1.57
    Monero
    £105.37£104.41N/AN/AN/AN/A
    Giropay
    Neteller
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    Sepa Transfer
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    Sofort

    How to Buy BNB – Best Brokers

    Do you want to buy Binance Coin right now? If yes, you can follow the four quickfire steps outlined below to get started.

    1. Open an account: You’ll first need to open an account with a trusted cryptocurrency broker. We recommend eToro, as the platform is heavily regulated, supports multiple deposit options with super-low fees.
    2. Upload ID: As a regulated brokerage site, eToro will ask you to upload a copy of your government-issued ID.
    3. Deposit: You can now deposit funds with a debit/credit card, Paypal, Neteller, Skrill, or a bank wire.
    4. Buy BNB: Search for ‘BNB’ and click on the ‘Trade’ button. Enter the amount of Binance Coin you wish to buy ($50 minimum) and confirm the order.

    eToro Tutorial

    This section gives you a complete step-by-step process of how to buy BNB on eToro. This would help you understand the platform better as you buy BNB the most safely and cost-effectively possible.

    Step 1: Open an Account

    At eToro, opening an account can be completed in less than 10 minutes. This is because the broker uses automated technology to verify your personal details. Visit the eToro website and click on the ‘Join Now’ button. You will see a box where you will enter your first and last name, email address, phone number. You would also need to pick a username and password.

    eToro sign up

    68% of retail investor accounts lose money. Invest responsibly.

    You will then be asked to fill out your personal information on the next page. Details like your country of residence, home address, date of birth, and national tax number would be required. eToro will then send an SMS text to your mobile phone. This code sent to your phone would be needed to complete your registration.

    Step 2: Upload ID

    eToro is regulated by several reputable agencies. As such, you will need to have your identity verified.

    You can actually complete this step at a later date – but it does need to be done before you are able to:

    • Deposit more than $2,250
    • Make a withdrawal

    With this in mind, it’s best to quickly upload the required documents now to avoid any delays in the future.

    This requires a copy of your:

    • Passport, driver’s license, or national ID card
    • Utility bill or bank account statement issued within the last 3 months

    In most cases, eToro will authenticate your documents straight away and subsequently remove all account restrictions.

    Step 3: Make a Deposit

    You would need to deposit some funds in your account right away. Here are the payment options to choose from:

    • Debit/credit card (Visa, MasterCard, Maestro)
    • Paypal
    • Skrill
    • Neteller
    • Local bank transfer (country-specific)
    • International bank wire

    In terms of fees, eToro charges just 0.5% on deposits, irrespective of the payment method. This is an affordable rate compared to its main competitors, with the likes of Coinbase charging 3.99% to buy BNB with a debit card.

    Step 4: Search for BNB

    Once you have an eToro account that is funded, it’s time to buy BNB. The easiest way to do this is to search for the cryptocurrency using the search button at the top of the page. After this, click on the ‘Trade’ button to open up an order box.

    Step 5: Buy BNB

    You can now buy BNB by entering the size of your stake into the ‘Amount’ box($25 minimum). Finally, click on the ‘Open Trade’ icon to complete your investment.

    Where To Buy BNB

    To buy BNB, you’ll need a cryptocurrency exchange. It’s important to pick an exchange that’s trustworthy and makes it easy to go from fiat currency to digital currency. The cryptocurrency exchanges listed below offer cutting-edge trading tools and a wide selection of tokens.

    With that in mind, let’s take a look at where to buy BNB.

    1. eToro – Overall Best Crypto Exchange to Buy BNB

    eToro is our number one recommended broker for investors to buy BNB. The exchange stands out for various reasons. etoro logo

    eToro gives users access to over 800 shares from about 17 different stock exchanges worldwide. This broker is perfect for investors who want to build a portfolio of shares at the click of a button. Users on eToro also have access to a large range of digital currencies like Bitcoin, Ethereum, and of course BNB, among others. Other markets the broker offers include over 150 ETFs and indices such as the FTSE 100, NASDAQ 100, Bonds, Forex, and Commodities.

    buy bitcoin

    eToro has three major account types, Standard Accounts, Professional Accounts, and Corporate Accounts. Users have to be confirmed as professional traders to have a professional account that gives access to higher leverage limits. The default account for newbies and beginners is the Standard account. Corporate accounts, on the other hand, are for companies that want to access investment products.

    One of the unique features of eToro is its easy-to-use platform alongside its super-low commissions. This makes it easier to buy BNB without being charged hefty fees.

    eToro is a zero-commission platform. Users can buy BNB without paying a penny in commission. Instead, the broker charges a small fee of 0.5% FX when you make a deposit. The platform provides several withdrawal and deposit options such as PayPal, Neteller, debit, and credit cards. For new users who intend to try out eToro before putting their money on the line, eToro offers a demo account. The demo provides $100,000 in paper money and provides the full functionality of the eToro platform.

    Pros

    • Commission-free trading
    • Easy account opening
    • Supports multiple payment channels
    • Social trading experience
    • More than 3,000 shares to choose from.

    Cons

    • Withdrawal fee of $5

    Your capital is at risk.

    2. Binance – Top-Rated Crypto Exchange to Buy BNB

    Binance is the world’s largest online cryptocurrency exchange by trading volume. BNB is the cryptocurrency coin that powers the entire Binance ecosystem, including the exchange. Therefore investors can buy BNB from the Binance exchange directly.  Binance Logo

    The Binance exchange offers over 150 cryptocurrencies for investors and traders to buy and sell on its platform.

    Trading commissions on Binance start from about 0.1 per cent, and the platform also offers leveraged trading and access to crypto futures. This enables traders to buy cryptos bigger than their wallet balances. You can also buy BNB with fiat currency on Binance.

    The Binance exchange is easy to navigate, making it suitable for both beginners and advanced traders to use. The Binance platform is available on both the mobile app and web browser. Users on the Binance exchange stand a chance to earn rewards by depositing or staking cryptos and getting instant loans secured by crypto assets, and more. The exchange is also safe and secure. Binance uses two-factor authentication for its security alongside anti-Phishing measures.

    Pros

    • More than 150 cryptos are available
    • Supports deposits and withdrawals of fiat money
    • Strong emphasis on security
    • Low trading fees
    • Multiple trading types for different trader experience levels.
    • Beginner-friendly offers tutorials.

    Cons

    • Demo account only available for Binance Futures platform.

    3. Coinbase – Largest Crypto Exchange in the United States

    Coinbase is one of the most popular, easy-to-use cryptocurrency exchanges out there. The firm allows users to trade, sell and buy BNB alongside other cryptocurrencies exclusively. The exchange offers several benefits, such as a clear interface and plenty of trading pairs for customers.

    The main attraction with Coinbase is the fact that the platform is set up in such a simple way that makes it super easy for beginners to use. Experienced traders have the opportunity to use Coinbase’s professional platform called Coinbase Pro.

    coinbase website

    Coinbase is heavily regulated with licenses from US financial regulators and so is safe and secure to use. Coinbase also offers a number of additional products and services, such as a fully-fledged cryptocurrency wallet, known as one of the best ripple wallets available. This can be downloaded onto your iOS or Android phone via a mobile app. You can also apply for a Coinbase debit card – which allows you to easily spend your cryptocurrency holdings in the real world – as Visa backs it. Like Binance, users can earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature.

    Pros

    • Easy to operate platform
    • Comprehensive mobile app mirrors desktop functionality
    • Large crypto options
    • Coinbase Earn feature rewards users with crypto for learning about available coins

    Cons

    • Higher fees than competitors

    4. AvaTrade – Legacy Crypto Trading Platform for Investors

    AvaTrade is a popular broker that offers trading on a wide variety of assets through contracts for difference (CFDs). This broker enables traders to access international shares, forex, commodities, cryptocurrencies, and others. AvaTrade

    The broker which is a subsidiary of AVA Group of Companies is one of the oldest online brokerage platforms.

    AvaTrade-Home-scaled-1

    AvaTrade stands out for offering 0% commission on all trades and tight spreads for most transactions. Plus, it’s suitable for more advanced traders since it integrates with MetaTrader 4 and 5 in addition to offering its own trading platform. AvaTrade also incorporates other trading interfaces like Webtrader, AvaOptions, and AvaTradeGo, a mobile-friendly charting and trading platform.

    AvaTrade is safe and secure as it is regulated by Abu Dhabi’s Financial Services Regulatory Authority. Like so many brokers, AvaTrade also offers both the standard and the professional account options. To have a professional account on AvaTrade, you are required to apply and to be approved, you would need a portfolio of over $500,000 on the AvaTrade platform.

    Pros

    • Copy trading feature
    • Demo account available
    • Research and analysis tools available
    • Good customer support available in different languages

    Cons

    • Withdrawal requests could take up to 5 days to process

    5. Revolut – Personal Finance Service With Crypto Support

    Revolut is a FinTech firm mainly known for its banking and payment services. The company offers its clients access to investing in stocks, cryptocurrencies, and ETFs listed on exchanges.

    Revolut was originally founded to easily enable users to receive, send, and exchange currencies. However, it has grown beyond just giving users access to basic transactions wherever they are. Revolut launched its trading feature in 2019.

    Revolut website

    Like many brokers, Revolut platform can be accessed via web browser or mobile app. The app is user friendly and intuitive. It has useful features where you can follow the latest news, get important stock data, check top movers and even evaluate your trading results. One of the interesting aspects about Revolut is that it does not require any minimum deposit. Revolut has three account types, namely Standard, Premium and Metal. All three account types offer commission-free trading; the difference among them lies mainly in the amount of monthly free stock trades they offer

    The Standard account allows one free stock trade per month while the Premium account offers 5 free stock trades per month. On the other hand, the Metal account doesn’t have a limit on the number of free trades.

    Pros

    • Free stock trading
    • Expansive support for crypto
    • Fast and easy account process
    • Great mobile trading platform
    • Quick transactions and asset conversions

    Cons

    • Limited product portfolio
    • Poor customer service.

    6. CryptoRocket – Newbie Crypto Trading and Exchange Platform

    CryptoRocket is a leading cryptocurrency broker that provides users with access to a wide range of cryptocurrencies, like BNB and Bitcoin. The platform also offers trading in forex, Commodities, Energies, Metals, Indices, Stocks and CFDs.

    CryptoRocket offers its clients the chance to trade on institutional liquidity that is sourced from major investment banks and fully transparent liquidity execution providers. This means that traders on the platform can have access to excellent rates, along with the ability to trade on tight spreads.

    CryptoRocket website

    CryptoRocket, accepts a minimum deposit of only $10. However, it has limited deposit methods compared to other services. On CryptoRocket, you are limited to depositting with wire transfers, Bitcoin, and cards.

    CryptoRocket offers leverage of up to 1:500 along with access to deep liquidity and excellent 24/7 customer support. CryptoRocket is an online broker that was launched in 2018. It is based in St. Vincent and the Grenadines. The platform offers traders access to advanced charting and analysis tools, as well as the latest news to help with their strategies. It uses the MetaTrader4 trading platform and offers one major account type which is the standard account. CryptoRocket also has a demo account available.

    Pros

    • Diverse assets available for trading
    • Same-day withdrawals for credit card transactions
    • Low minimum deposit threshold
    • No withdrawal or deposit fees
    • 24/7 customer support
    • Intuitive and user friendly MT4 platform

    Cons

    • Limited deposit channels
    • No MetaTrader 5 platform

    7. Changelly – Nifty Exchange for Instant Purchases

    Changelly is a non-custodial exchange that is known for its privacy features. The platform which allows users to buy and sell cryptocurrencies like BNB, has been in operation since 2015.

    Changelly charges traders a flat rate of 0.25% on all crypto-to-crypto trades. These fees are automatically factored into the exchange rate when creating an order. There are no specific deposit fees on the platform, but you will need to factor in transaction fees when making an exchange.

    changelly website

    One of Changelly’s unique features is the service which allows for quick conversions. Users can easily exchange between more than 150 different cryptocurrencies with just a few clicks. The exchange also gives customers the option of directly purchasing cryptocurrencies using their debit or credit card.

    Changelly also provides trading through its subsidiary, Changelly Pro, for professional traders.

    Changelly is a safe and secure exchange. Although it does not ask users to pass any KYC or AML checks, it gives users the option of enabling two-factor authentication to their accounts to add an additional security layer.

    Pros

    • Easily exchange over 150 cryptocurrencies.
    • Non-custodial exchange does not hold customer funds
    • Integrated with popular wallets and exchanges
    • 24/7 live customer support for all users

    Cons

    • Cryptocurrency prices set by Changelly
    • High fees for crypto-to-fiat conversion

    What is Binance Coin?

    You may have come across Binance Coin or, more popularly, BNB and wondered what it is. This section breaks down the mystique surrounding this digital asset and shows its various use cases.

    So, what is Binance Coin?

    • Binance Coin is a digital currency of the world’s largest crypto exchange by trading volume Binance
    • It initially started as an ERC-20 token on the Ethereum blockchain before transitioning to BEP-20 when Binance launched its standalone blockchain network.
    • Binance Coin is originally meant to serve as a discount token for network fees on the Binance crypto exchange.
    • However, the virtual currency has seen its use case grow as the parent exchange has built a thriving crypto ecosystem.
    • Binance Coin is utilized in decentralized exchange platforms like PancakeSwap and is the de facto native currency for Binance Smart Chain.
    • The digital asset is also used in Binance Launchpad alongside the exchange’s stablecoin BUSD to stake in upcoming projects.

    Before we move into the fine details on what Binance Coin is and the various ways you can trade and utilize the virtual asset, we need to bring you up to speed on the parent exchange Binance.

    Binance started life as a small-cap Bitcoin exchange in 2017 in Mainland China and became an instant success. It launched on the Ethereum blockchain, subsequently releasing its utility token Binance Coin. From inception, the Chinese exchange intended to transition from a centralized exchange to a decentralized one – a feat they achieved two years later.

    With the Chinese government cracking down on crypto exchanges in the territory, Binance was forced to shut down its operations in the Chinese region. However, this seemingly bad turn of events served as a beacon for Binance to expand its reach. Losing its Chinese patronage, Binance extended its operations globally, and this began to pay dividends, with the exchange becoming the largest Bitcoin exchange in just two years.

    Binance continued growing its ecosystem and launched its Binance decentralized exchange (Binance DEX) in 2019 to much acclaim, and the exchange recorded its first $1 billion trading volume surpassing previous record holders like the defunct Mt. Gox exchange.

    A year later, Binance also officially launched its Binance Smart Chain (BSC), a platform that facilitates the building of decentralized applications (dapps). Binance Coin’s initial use as a discount token began to expand with the digital asset featuring in several of the exchange’s plans.

    Binance subsequently transitioned Binance Coin from an ERC-20 token operating solely on the Ethereum network to a BEP-20 token during this period. Binance Coin now features a lot in the premier Bitcoin exchange’s plans and is used in staking on the Binance Launchpad – a platform that enables new projects to receive funding and users get the protocol’s token in return. Popular DEX platform PancakeSwap also leverages the popularity of Binance Coin and uses the digital token as its de facto token.

    In addition, Binance Coin is used on BSC by development teams to settle network fees and build dapps. More mundane use cases include a payment tool for online and in-store purchases, book hotels, flights on travel website Travala.com, and providing liquidity on the Binance Liquid Swap.

    More specific details surrounding Binance Coin show why it is so popular among crypto traders and investors alike. Like top digital asset Bitcoin, Binance Coin is deflationary and has a hard-cap limit of 200 million tokens. This has boosted the token value as scarcity generally leads to an increase in value over time.

    Another unique characteristic of Binance Coin is that the Binance crypto exchange adopted a token burn mechanism. This means a particular percentage of all circulating BNB tokens will be taken out of circulation via Binance, buying them at market value and removing them permanently from circulation. This technique has paid dividends, as our data shows.

    For instance, the December 2017 Binance Coin burn of 986,000 tokens led to the surge of BNB from $3.34 to $21.48 in January 2018. Even though the price would usually drop soon after, Binance Coin has never dipped to its pre-rally prices. Several other exchanges have adopted this token burn mechanism for their native tokens.

    Why Buy Binance Coin? Binance Coin Analysis

    Binance Coin is a highly coveted digital asset in the blockchain ecosystem, and its 800% increase from year-to-date (YTD) has seen several crypto investors scramble to lay their hands on the virtual currency. However, if you still do not see a reason to buy or trade Binance Coin, we have listed a few reasons you should buy Binance Coin below.

    Binance Is Not Slowing Down

    Since seizing the highly coveted number one spot of the largest Bitcoin exchange by trading volume in 2017, the Binance exchange has not relinquished its position in the last four years. Instead, with digital currencies going more mainstream, the gap between the former China-based exchange and other Bitcoin service providers has widened.

    Binance Coin price chart 6Mths period

    This has seen Binance more than triple its trading volume and currently averages over $100 billion, the closest being publicly-listed US exchange Coinbase with $5.2 billion.
    With such a broad ecosystem, Binance Coin will always be a top digital asset, and the token has proven itself to be one of the best-performing crypto assets after securing the third position for more than a year. Binance’s continued dominance of the crypto scene will only see Binance Coin continue to enjoy market demand.

    Continued Rollout of Services And Growing Use Cases

    Binance has been able to stay ahead of the pack due to its quick rollout of crypto services. One of the exchange’s most popular services is the Binance Launchpad is a fledgling community where users can earn interest in any project they are interested in without buying the token directly. The platform’s high-yield savings plan enables users to generate passive income from their crypto holdings easily.

    Also, it launched tokenized securities in the middle of the year and saw a significant uptick in user traffic before bringing it down due to regulatory issues. Binance is always the first to the market with innovative products, and this approach has paid dividends. Binance Coin’s growing feature in several Binance financial products and the high yields attached to them will only see the digital asset continue to rise with time, as witnessed in April this year.

    Binance’s Popularity Is Lending Binance Coin Cred

    Everyone knows we only associate with what we know. It is core human nature. Even though several discount tokens are currently in circulation on the crypto market, crypto enthusiasts are more familiar with Binance Coin. With the large uptick and the amount of transactions Binance processes by the day, if you are an active trader, you would be better off adding Binance Coin to your portfolio.

    Huobi Token (HT) and OKEx Token (OKB) are also popular choices, but Binance Coin leads the pack and is the premier discount token in the crypto scene.

    Binance Coin’s Meteoric Rise

    We’ve dwelt a lot on the Binance exchange so let’s turn our attention to the price performance of Binance Coin. Launched initially at $0.1077 following a successful initial coin offering (ICO) in 2017, Binance Coin has grown more than 50,000% from inception to date. The digital asset’s potential began to reflect in July 2019 when it surged to $36.73 despite being in a bear market.

    Market pressure saw it lose momentum, dropping $15.76 in early December of that same year. However, Binance Coin has largely outperformed the general crypto market, and it showed its potential when it surged from $38 in January 2021 to a record value of $650 in four months.

    Although the virtual currency has dropped in value, Binance Coin is still one of the top five largest crypto assets by market cap.

    Is it Worth Buying Binance Coin in 2021?

    Binance Coin, like several crypto protocols, is plagued by issues of volatility. This means it rises and falls on market demand. It is also tied to the hip to Bitcoin, which sees it follow every whim of the premier digital asset. This played out in the first quarter of this year.

    Binance Coin had largely traded below the $30 range for much of 2020 but picked up when the benchmark crypto-asset drew close to the $20K mark. This saw it end the year at $37.38.
    Bitcoin’s significant rally to $65,000 saw Binance Coin rally from its year’s trade of $38 to $675.21, pushing it to the third position on the most valuable cryptocurrencies in the market with a $5.2 billion market valuation at the time. It has since tapered down, much like Bitcoin witnessing an extended bearish market and losing about 45% of its value.

    However, this August bull run has seen Binance Coin come into focus again as crypto trades have begun to enjoy new highs. Binance Coin has surged to a current value of $462.28 with a fully diluted market cap worth over $80 billion, more than triple its April figure.

    With Binance exchange still leading the pack added to its turn burn, Binance Coin would definitely surge in value as cryptocurrencies continue to go mainstream. With its phenomenal 800% increase this year alone, we think this might be a great time to buy Binance Coin.

    Ways of Buying Binance Coin

    With all you have learned about the discount token, you must be curious how you can buy Binance Coin. The most straightforward approach would be to head down to the Binance crypto exchange and make the purchase. However, there are other options that you can explore if you are not currently signed up on Binance and do not want to, as Binance Coin is available on several other exchanges. A few means you can use to buy Binance Coin are:

    Buy Binance Coin with PayPal

    If you have a PayPal account, you can buy Binance Coin easily with it. All you need to do is research the best online brokers or platforms that support this payment method. Although several platforms support paying with PayPal, we recommend using the eToro platform due to its low fees and generally great trading experience.

    Buy Binance Coin with a Credit Card

    You can also explore the option of adding Binance Coin to your portfolio through your credit card. However, this option is not that rampant for crypto, so you need to ensure your broker offers it. Another condition you should take cognizance of is that credit card payments are generally restricted in some regions based on the operating laws guiding those areas.

    Also, some credit card issuers view cryptocurrencies l