How to Invest in Bitcoin and Cryptocurrencies

As a native token for the largest crypto ecosystem, BNB is an extremely sought-after asset that is worth including in a crypto investment portfolio. The benefits of buying BNB through Trust Wallet are that it’s fast and more convenient. Typically, if you buy crypto from an exchange, you will need to move it to a wallet, but if you buy BNB on Trust Wallet, you cryptocurrency the 10 biggest trading mistakes newbies make and how to avoid them do not have to send it anywhere else. Start by selecting the cryptocurrency you want to purchase in the transaction form. Trust Wallet is a fully-owned independent subsidiary of Binance exchange. This might explain why they list a competing platform’s native token.

1. As a native token for the largest crypto ecosystem, BNB is an extremely sought-after asset that is worth including in a crypto investment portfolio.
2. A decision to invest is based more on the fundamentals of a coin (how solid is the project and how likely it is to succeed in the long run).
3. Next, you’ll be able to choose from a variety of cryptocurrencies.
4. Here, Binance acts as an escrow service – this way, you can be sure that the trades are going to be legitimate, and that you won’t get scammed out of all of your money.
5. Alternatively, you can use Binance P2P, an industry-leading peer-to-peer marketplace.

In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. Although some exchanges allow you to use credit cards, we caution you against this funding method. Credit card issuers view cryptocurrency trades as cash advances, so you’ll incur higher fees and annual percentage rates (APRs).

Where to store BNB

Given its increasing utility within the ever-growing Binance ecosystem and the regular quarterly coin burns that reduce its supply, BNB’s value has the potential to rise even further. Now that you have acquired your BNB tokens, you may be looking for a safe place to store them. Normally, we would recommend storing all your long-term digital asset investments in a hardware wallet such as Trezor or Ledger for increased safety. Once you have successfully added your card, it will be listed on the payment page as a payment method, and you can select it when purchasing your BNB. You can then click on the ‘Continue’ button after selecting your payment method and make the payment.

Binance exchange launched in July 2017, but before the launch, the exchange needed to raise necessary funds to run the business. The Binance team, led by its current CEO Changpeng ‘CZ’ Zhao, conducted an initial coin offering to sell BNB tokens to interested investors. They are different versions of the same token, serving the white label crypto exchange software by wl global solutions same purpose.

In the second and third phases, that rate was reduced to 2,500 and 2,300, respectively. This was a deliberate plan to create artificial urgency for investors to buy the tokens sooner rather than later. We will discuss more on BNB below, whereas BUSD is a stablecoin whose value is pegged to the US dollar currency. While the value of BNB is volatile, BUSD is designed to be as stable as the US Dollar, making it a hedge against price volatility in the crypto market. To learn more about the Binance exchange, be sure to read our comprehensive Binance review. In the Binance ecosystem, another digital asset exists called the Binance Dollar or Binance USD (BUSD).

The ICO was held within three weeks, starting on July 1st and ending on the 21st. According to ICO documents, the BNB tokens were scheduled for sale in three phases, each lasting a week. The first phase happened between the 1st and 7th and saw the sale of BNB tokens at 2,700 tokens to 1 ETH coin.

Step 3 – Buy BNB.

Whether or not BNB is a good investment depends on your investing goals. Additionally, past results of an investment do not guarantee future outcomes. Having said that, Binance has seen a meteoric rise in its value seeing the price of a single BNB token rising from $0.15 at the time of ICO to a high of $685 in May 2021.

What should I do with my cryptocurrency?

This guide will look at the various ways to buy BNB, but for a detailed analysis of the Binance Coin, we have prepared a comprehensive guide that tackles everything there is to know about BNB. Now that you have successfully set up your Trust Wallet, open up the application and proceed to purchase your tokens. Similar to Ethereum’s ERC-20, Binance Chain also has a token issuance and implementation standard code-named BEP-2. The exchange swapped the ERC-20 BNB tokens to the BEP-2 tokens on the same day the mainnet went live. The second reason is incentivizing the founding team to keep working within the company or on what is fullstack javascript the project. At the end of the token sale, all 100 million BNB tokens were sold off at an average of about $0.15, bringing in around $15 million.

All tokens that were held or stored on the platform were automatically swapped. Binance Coin (BNB) has been one of the most profitable investments of the last 4 years in the cryptocurrency market, registering returns of over 450,000%. An investment of $1,000 during its Initial Coin Offering (ICO) in July 2017 would have multiplied to a massive $4.5 million as of May 2021, when the coin reached its current all-time high. Yes, you can purchase Bitcoin on Binance, as well as trade over 150 other cryptos and altcoins.