Our recommendation: Trading at Investby
Our recommendation: Trading at Investby
- The broker provides an Islamic Account
- It provides a dedicated account manager
- Receive customised investment news
- Trade with a variety of assets
- There’s no deposit limit
The Binance Coin (short: BNB) is the in-house cryptocurrency of the Chinese platform Binance.
There are now 200 million tokens of the Binance Coin. For example, one can buy them on the in-house platform or exchange them for other cryptocurrencies.
The advantage is clearly on the trading costs. If you follow the information from the Binance crypto exchange, there is a price reduction of 50 per cent in the first year, 25 per cent in the second year and 12.5 per cent in the third year.
Even in the fourth year, there is still a discount of 6.75 per cent.
But with one or the other crypto broker, excellent alternatives are available, which, in turn, can show strong arguments. For example, you can buy the Binance Coin directly or short it with derivatives.
Another aspect that should not be ignored: In the past, BNB was able to draw attention to itself again and again with price increases.
The BNB, the cryptocurrency of the Chinese Binance.com trading platform, is available to South Africans. If you want to buy Binance Coin (or several coins), you don’t need a Binance account in advance.
Buying the Binance Coin is also possible on other platforms, such as our test winner broker, TradeATF!
Even if you are interested in another cryptocurrency, it is worth considering setting up an account on this platform. Ultimately, the TradeATF platform is one of the largest exchanges in the world.
Even if it is the Binance Coin, we recommend buying this coin from our test winner broker TradeATF. This is because, with TradeATF, you have far better conditions for buying Binance Coins than with Binance.
Setting up a TradeATF account is relatively easy and won’t be a challenge even for beginners. Register here.
In the end, you only need a valid email address and a self-generated password – then an email is sent with a confirmation link, which you have to click on.
If the TradeATF platform is to be used, the so-called 2-factor authentication is recommended. In this case, you need the “Google Auth” app, which can be downloaded free of charge from the respective app store.
You need a password and a code that you can send via the app and change regularly when logging in.
So you can increase the security, which is already relatively high at Binance, by a notch. The exact security mechanism can also be used with the Coinbase platform.
A purchase without verification is possible if the total amount does not exceed the 2 Bitcoin mark. The verification usually takes three working days because the employees still check the documents by hand.
Before you can buy Binance Coins, you must, of course, deposit in advance. In addition, account capitalization is required in advance to buy coins.
The point “Medium” leads the user to the “Deposits”. Which cryptocurrency should be used? The selection is large, but what happens next if you don’t have any coins yet?
Since the direct deposit via Fiat currencies is not currently possible at Binance, an alternative is needed in advance – our test winner crypto broker TradeATF!
|Buy Binance Coin with a credit card||✔️|
|Buy Binance Coin with PayPal||✔️|
|Buy Binance Coin Coin with Rapid Transfer||✔️|
|Buy Binance Coin with Skrill||✔️|
|Buy Binance Coin with bank transfer||✔️|
|Buy Binance Coin with Neteller||✔️|
|Buy Binance Coin with UnionPay||✔️|
With a variety of payment options, there is no need to own cryptocurrencies beforehand with TradeATF.
Behind the Binance Coin is the platform of the same name, Binance. The name says it all because it is made up of the terms “binary” and “finance” – that is, “binary” and “finance“.
Thus, the trading platform wants to make it clear right from the start that there is only the possibility of trading cryptocurrencies with one another – Fiat currencies are therefore excluded.
In the beginning, Binance only focused on China – a good decision. So today is Binance Coin, one of the critical cryptocurrencies of the world has become – is currently the market capitalization of over 47 billion euros.
There are a total of 200 million coins based on ERC 20 tokens, the Ethereum standard. The ICO sold 50 per cent of the coins, 40 per cent went to the team and 10 per cent to investors.
At the moment, not many platforms offer the option to buy BNB tokens with PayPal. Even binance.com itself does not provide this option.
Paying in with our test winner broker TradeATF is extremely easy: clicking on the “Send” button takes the user directly to the secure PayPal page to make a deposit.
The email address and the payment recipient are taken over directly so that you only have to confirm the amount.
After the deposit, you can usually choose from which credit or PayPal account should collect the money.
The use of TradeATF is, in principle, free of charge for end customers, but of course, fees are incurred when buying Binance Coin via TradeATF.
In the following example, we try to compare the fees of TradeATF with two other well-known crypto brokers: Coinbase & Plus500.
As you can see, TradeATF is the best choice to buy Binance Coins here too.
|Purchase fees||Free||1.49%||3.08% *|
|Holding fees||Free||for free||0.05% *|
|Sales charges||Spreads||1.49%||3.08% *|
|Total fees||Reasonable||€ 68.24||€ 92.32|
If you want to trade Binance Coin with other cryptocurrencies, you have to register on the platform again at the beginning. However, if you already have an account, you do not have to enter all of the requested data during registration – i.e. after clicking on the link sent by email.
After registering, click on “Markets”. Now you have to click on the desired trading pair.
In our example, we use Bitcoin: An exchange is only possible when the coins on TradeATF and in the TradeATF Wallet already are.
The exchange is within minutes of per cent. For example, if you want to swap your Bitcoin stocks for Binance Coin, you can specify in advance what proportion of the exchange should take place – for example, 25 per cent, 50 per cent, 75 per cent or 100 per cent.
If you want to exchange BNB for Bitcoin, you then go to Buy BNB and confirm the transaction. Subsequently, the total costs are displayed – in this case, in Bitcoin.
As a rule, the BNB can be exchanged from various Fiat currencies on the TradeATF platform.
That is for the trader that the Binance Coin also sell against other currencies (USD, Euro, Yen, etc ..) can – this option is under “Exchange” is available.
If you want to buy Binance Coins, you should first look at the company behind Binance to understand how the Binance Coin works in the first place.
After all, the Chinese provider Binance came into being in the first place.
However, it must be said that Binance itself is not the best platform to buy Binance Coins.
If you want to exchange euros for Binance Coins, it is advised to use our test winner, reputed broker TradeATF.
In November 2017, the price of the Binance Coin moved at 0.11 euros; On January 6, 2018, the cryptocurrency reached the all-time high of 20.26 euros. After that, however, the Binance Coin also suffered a crash – at the beginning of February, the cryptocurrency was trading at 3.73 euros. The price is currently around EUR 300 – the market capitalisation is over EUR 1.1 billion.
If you want to invest in Binance Coins, you can choose the Binance platform or our recommended test winner.
Options brokers only use the cryptocurrencies as assets, while exchanges enable the values to be traded directly.
So if you want to buy Binance, you will have to go directly through the Binance Exchange.
The exchange of fiat currencies for Binance Coins is possible via our test winner – only crypto currencies can be traded via Binance. A deposit on Binance is always made via cryptocurrency
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