Cryptocurrencies are once again entering the spotlight. Many of the previously popular coins no longer exist. Other coins have grown to massive popularity in a rather short time.
One of those coins is Binance’s official cryptocurrency, BNB. Created by Changpeng Zhao in 2017, BNB has become one of the strongest coins in the market, with many different use cases.
In this article, we will briefly explain the steps you need to take to buy Binance Coin in the safest and most reliable way. So let’s get started.
Different ways to buy BNB
Since BNB is an exchange-based token, you can get it primarily through the Binance exchange. Sounds pretty simple – just create an account, and make a purchase.
While this is certainly the simplest way to get BNB, it is not the safest. When storing cryptocurrencies on an exchange, the coins are never fully in your possession. The exchange they are stored on, in this case Binance, is able to control, and even confiscate your funds.
So what is the best way to go about this? To ensure that you are in full control of your funds, you are better off using an exchange platform that sends BNB directly to your personal wallet. So, before we get into the specifics, you will need to create a wallet.
Creating a BNB wallet
Start by creating a wallet from Binance’s most trusted source: Trust wallet. Not only is the Trust wallet acquired by Binance, but the two are working closely together to simplify crypto transactions as much as possible. So, if you are a beginner, you will be able to set up your wallet easily.
If you rather want to explore your options, or don’t like the idea of a mobile wallet, there are more options to choose from:
- If you want to buy a large amount of BNB and need the best possible security for your funds, consider using a hardware wallet. These physical devices that look like USB sticks can store more than 2000 cryptocurrencies offline, and integrate with popular online wallet options. While they come at a cost of $70-$200, they are certainly worth the price. We recommend using Ledger Nano S or Trezor Model T.
- On the other hand, if you prefer to deal with cryptocurrency from the comfort of your PC, you might want to download a desktop wallet. Our favorite option is Guarda’s wallet. Not only does this wallet support multiple cryptocurrencies but it also offers a non-custodial solution and a strong support team that is available at all times.
How to buy Binance Coin
Once your BNB wallet is created, you can go ahead and start your transaction.
Step 1: Create an account on Paybis
Sign up on Paybis.com and get ready to start a transaction. All new users of the platform qualify for one commission-free order when paying with their credit or debit card.
Step 2: Start a new transaction
On the dashboard, you can select your trading pair and start a new transaction.
- Indicate how you want to pay by selecting one of the options of the drop-down menu on the left. We selected the “Credit/Debit Card” to skip the fees.
- Select your payout option from the drop-down menu on the right. In this case, we will select BNB.
- Next, enter the amount you want to spend under the designated box.
- Finally, click on “Buy BNB” to proceed with your order.
Step 3: ID verification
When you start a new transaction, you will need to pass a basic ID verification. This process takes less than 5 minutes to complete and requires some of your personal information.
Start by entering your full name, and your date of birth. Once that is done, click on “Continue”.
Next, enter your country, province, and residential address. Once added, click on “Continue” once again.
Finally, select your preferred document type and upload a copy in good quality. When the file is uploaded, click on “Submit” to conclude the process.
Once your information is submitted, the team of Paybis will instantly perform a review and let you know if you can continue to the payment phase. The waiting time should not be longer than 2-3 minutes.
Step 4: Complete the payment
Once the team of Paybis completes the review, you will know if you are able to proceed. If so, enter your BNB wallet address and continue to the final stage – the payment.
Simply follow the instructions on your screen and complete the payment. The process looks slightly different depending on your payment method, but is overall easy to follow, even if you are a total beginner.
5th Step: Receive BNB
In just a few minutes, Paybis will receive your payment and deliver your BNB to the previously indicated wallet. The whole transaction shouldn’t take more than a few minutes to complete.
And that’s it, you now know how to buy BNB in the safest and most reliable way!