Are you wondering about how and where to buy BNB in the UK?
Well, if yes, then you’ve come to the right place!
The best crypto exchange to buy BNB on is its very own one, the Binance exchange!
This guide will take you through a step-by-step guide on how to purchase BNB on Binance and other exchanges.
Table of Contents
What is Binance Coin (BNB)?
Binance Coin is the native cryptocurrency of the popular exchange, Binance which is a decentralized exchange platform founded in 2017. The token’s ICO fundraising was used to finance the creation and development of Binance.
The token and its parent ecosystem continue to serve several functions and use cases. Its perks and features include but are not limited to:
- Very low transaction fee and fast execution time
- The native token of the Binance exchange
- Extensive exchange listings
- Useful trading pairs for many coins on Binance
- Offers discount when traded or used as a payment method on the exchange
Apart from these, BNB is also used for various payments, including flight and travel expenses, bookings, and reservations. You can also use a Binance credit card to purchase virtual gifts, gift cards, top-ups, and many more.
How to Buy BNB in the UK
Binance is the number one exchange to buy BNB in the UK because BNB is its native currency. It provides several payment options and trading discounts to attract people to invest in their tokens and they are as follows:
- Buy BNB with Bank Transfer: Binance supports many trading pairs, especially with fiat currencies and stablecoins like DAI, USDT, or its BUSD stable coin. By using this, you can wire money from your account and exchange directly with BNB.
- Buy BNB with Credit/Debit Card: you can also buy BNB in the UK directly with your credit card on Binance.
- Buy BNB with Crypto-to-Crypto Exchange on Binance: Binance also supports trading coins with other cryptocurrencies like BTC, ETH, or DAI. In case you hold other coins that can be exchanged with the BNB, you can easily deposit and swap them with the BNB coin. You can also choose from one of Binance’s long lists of more than 400 coins and trading pairs.
Make sure to check the BNB/GBP price before exchanging so you wouldn’t run into any losses.
How to Buy BNB with GBP on Binance
Trading your native fiat GBP currency is also an easy way to buy BNB in the UK on Binance. Using this method allows you to directly trade GBP, EURO, or even USD to buy BNB. To do this, you need to:
Create a new Binance account
To buy BNB in the UK on Binance, ensure you register an account with Binance by going to www.binance.com. Make sure you also verify your phone number or email address.
Verify your account
Ensure you also complete the identity and KYC verification. Failing to do so, will result in you not being able to freely trade any asset on Binance.
Moreover, you need to make sure the information you submitted for the KYC verification matches your bank info, which you intend to use as a payment method.
Deposit your funds
Once your account has been fully verified, go to funds and deposit your desired fiat currency, preferably GBP.
Enter the desired amount and enter. Choose a preferred payment method and submit bank details for wire transfer.
Go to your bank to complete the deposit
Ensure you go to your bank to complete the transaction. You will have 20 days to verify this transaction. Once again, make sure your bank details match the details you submitted during account registration.
Check your Binance account
You can check the status of the transaction by going to Funds where you will find your transaction history.
Buy BNB
Once your deposit has been confirmed, head to the EXCHANGE section, then Basic. To buy BNB with fiat, choose FIAT and search for your preferred coin. Select the corresponding trading pair with GBP, i.e., BNB/GBP.
Select the preferred order type, input your preferred amount in GBP or BNB, and then execute. The order types on Binance are:
- Limit
- Market
- Stop-Limit
However, if you don’t know the meaning of the order, execute it automatically with the Market Order.
Buy BNB with a Crypto-to-Crypto Exchange
If you hold other cryptocurrencies, you can easily change them with BNB on Binance. By doing this, you will be able to exchange one of Binance’s 364 crypto listings with BNB. To buy BNB in the UK follow these steps:
- Register a new account on Binance
You can directly buy BNB without the need to verify your account here. However, withdrawals will be limited to 2 BTC (about $90,000) a day.
- Deposit cryptocurrency
To buy BNB with another coin, deposit the coin by going to the FUNDS section. Click Deposits and search for the preferred ticker for the coin you wish to deposit.
Select the coin, and its deposit address will pop up afterward. The deposit address is a combination of different case characters and numbers. Copy the address in full and deposit the preferred amount of coins from your wallet.
- Check your balance
After successfully executing your transaction, you can check your purchase and balance by going to the Funds section. You can see Balances in the upper part of the website. If you want to view your significant assets with over 0.001 BTC balance, tick the Hide Small Assets option. You can easily see your purchased BNB at the top.
- Buy Binance Coin (BNB)
To buy BNB, go to EXCHANGE, then choose BASIC. On the top section, select BTC and search for BNB. You can also see BNB/BTC in the BTC MARKETS section.
Click on the pair to load the price chart and the BUY/SELL options. At the lower part of the page, you can see the various options that come with BUY/SELL orders. Choose the type of order you want to execute your purchase. The different options include:
- Limit
- Market
- Stop-Limit
For the Limit order option, it means the order will execute itself when it reaches a certain price point. Enter the desired amount or BNB you want to buy. Proceed by selecting the BUY BNB option. Then wait for the price to reach the point.
Alternatively, you can instantly execute an order with the MARKET ORDER which enables you to buy the BNB at the current market price. Enter the preferred amount and execute by tapping BUY BNB.
With the third option, the STOP LIMIT ORDER, you’ll be buying the BNB at a certain price during an uptrend. Select the order type and execute as described above. These are the simple ways to buy BNB in the UK on Binance. You can check your portfolio by going to WALLETS > Spot Wallet.
However, there are other reputable exchanges that offer BNB trading services. Some of them that accept GBP and EUR are:
- BC Bitcoin: They accept GBP or EUR
- Local Bitcoins accepts GBP
- CEX.io allows GBP
- Coinbase accepts EUR
Summary
You can see how easy it is to buy and trade BNB in the UK on Binance using any method you want. You can also use several other cryptos, but they are supported by Binance.