How To Trade on BNB coin – Guide For Beginners

With cryptocurrency gaining ground, newer coins and tokens keep cropping up. The latest entrant in this field is the Binance (BNB) coin – Binance exchange’s cryptocurrency. With Binance becoming the world’s largest cryptocurrency exchange, BNB coin has created quite an uproar in the market. Read on.

It is still too early to assume that the cryptocurrency trade has reached its peak. With the crypto industry burgeoning with new and innovative digital coins and tokens at an unprecedented rate, the crypto revolution is still going strong. The trading arena is ripe, inviting, and tremendously dynamic.

If you have started your crypto journey and are exploring various investment options, Binance Coin or BNB coin could be one of them. BNB is the crypto coin issued by the crypto exchange, Binance. BNB coins can be easily traded on crypto exchanges, like ZebPay. While it may seem like a new experience for newbies to start trading on ZebPay and buy BNB, let us help you simplify the process.

Understanding BNB

BNB was launched via initial coin offerings (ICO) in June 2017 as an ERC-20 token on the Ethereum network. It was perceived as a payment method so that investors could get discounts on Binance. Today, BNB can be used as a payment method, as a utility token to pay for fees on the Binance exchange, and for participation in token sales on the various crypto trading platforms.

BNB also controls the Binance decentralized exchange (DEX), which supports multiple utilities such as trading fees, exchanges fees, listing fees and any other fees on the Binance exchange. Binance coins have been limited to a maximum of 200 million BNB tokens.

Factors to consider before you invest

Before you buy Binance coins on ZebPay, you need to understand a few factors. BNB coins will give you an upper hand whenever new cryptocurrencies are listed on the Binance exchange. It will enable seamless transactions when dealing with a variety of virtual tokens. Besides, BNB has also shifted from Ethereum to its private chain, known as the Binance Smart Chain. This home chain is optimized for remarkably fast trading while enhancing its functionality.

How to Buy the Binance (BNB) Coins?

You can buy BNB coins or exchange your existing cryptos with BNB coins. You can use all sorts of fiat currencies like INR and easily buy it from a reputed cryptocurrency exchange in India, such as ZebPay.  Later, you can trade your BNB coins on ZebPay or move them to Binance to be used in their network. All you would need to do is transfer your coins to your Binance wallet address.

If you already own Bitcoin, Ethereum or other altcoins, you can easily exchange your coins for an equivalent value of BNB. To exchange, just check the current BNB to INR rates and follow the procedure listed below.

  • Step 1 – Create an Account on ZebPay.
  • Step 2 – Register with your phone number and submit your KYC documents.
  • Step 3 – Add your bank details to ZebPay to begin depositing INR
  • Step 4 – Make your first trade!

The Last Word

BNB coins are low cost and can be freely traded on the ZebPay, as well as used for multiple purposes in the Binance ecosystem. Also, with a supply cap of 200 million and currently, at 99 million, its demand is increasing and predicts a great future. Owing to its ease of operation and a high withdrawal limit of $30,000, BNB coins are undoubtedly one of the most trusted coins in the ecosystem. The future of BNB is quite bright, and the coin is worth adding to your portfolio. However, before buying BNB, do comprehensive research and, only then, make your investment choices. And join the league to start trading BNB on ZebPay.

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