This will usually allow you to deposit cryptocurrency, but not USD. If this is your first time buying cryptocurrency you’ll need to look for a platform that accepts US dollars, like KuCoin or . Binance Coin (BNB) is the native coin of the Binance exchange and host to the BNB Chain, which became a DeFi powerhouse in late 2020. This helped cement BNB as one of the leading cryptocurrencies in the world, reaching an all-time high of $686.31 in May 2021. To do so, go to your MetaMask wallet and copy the BNB address corresponding to your account.
Binance is the best place to buy Binance Coin (BNB) for several reasons. As the world’s biggest crypto exchange, Binance has a trading volume https://topbitcoinnews.org/ of $21.83 billion, according to some of the latest data. Trade or swap BNB and BEP2 tokens using Trust Wallet’s multi-dex feature.
How many people own Bitcoin in Texas?
Analyzing these metrics gives traders the opportunity to make more well-informed decisions. I prefer selecting ACH and using Plaid to connect to my bank account, but you’re welcome to select any other payment method. You How to buy bnb in texas can also trade BNB on decentralized exchanges, such as Binance DEX, which facilitate peer-to-peer transactions. That option can help you save on costs, but these exchanges are typically more complicated to navigate.
- Once your account is funded, enter the exchange’s trading platform.
- However, other exchanges aren’t too keen to host the native cryptocurrency of the Binance platform.
- Young adults ages 18 to 24 who don’t yet own Bitcoin are most likely to buy this year, while those ages 55 to 64 and older are least likely to buy Bitcoin.
- Credit card issuers view cryptocurrency trades as cash advances, so you’ll incur higher fees and annual percentage rates (APRs).
We asked respondents if they currently own Bitcoin and, if not, whether they plan to buy Bitcoin in 2022. An additional 6% said they don’t own Bitcoin yet but plan to buy in 2022 — which means that Bitcoin adoption in Texas could hit 14% by the end of the year. Residents of Texas can buy most cryptocurrencies available in the US — from big-name coins like BTC and ETH to memecoins like DOGE and SHIB. Costs can vary greatly among coins and fluctuate daily, leaving room for dramatic gains and losses. Weigh fees and factors against your budget and investment goals to find an exchange that fits your needs. While this has helped make BNB the #4 crypto by market cap, Binance Coin is still a highly volatile asset capable of major price swings in a single day.
Why is MoonPay the best way to buy Binance Coin?
Binance has promised to respond to investor concerns by improving its approach to regulatory issues. It says that it is improving its verification processes to meet various regulatory requirements in different states. Know your customer or KYC standards are also being beefed up in response to growing pressure from financial regulators globally. Not only is Bitcoin (BTC) legal in Texas, but the state also recognizes the currency as legal tender, and Texas is known as one of the top spots for Bitcoin mining operations. Those ages 25 to 34 are most likely to own Bitcoin according to respondents who live in Texas, followed by ages 35 to 44, ages 18 to 24 and ages 45 to 55. Young adults ages 18 to 24 who don’t yet own Bitcoin are most likely to buy this year, while those ages 55 to 64 and older are least likely to buy Bitcoin.
BNB became a native asset on two interlinked blockchains, similar to Ether and Ethereum, and must now be spent in every transaction. While you’re holding BNBs, you have the option to stake your coins and earn interest on them, as you might in a conventional market. However, there are other protocols, such as those offered by PancakeSwap, that allow you to do the same thing. Binance allows you to buy and sell on a regular desktop computer or on the move using its mobile apps.
Use your credit card
Paste the address into the exchange from which you are sending and click Send. Now that you’ve followed the instructions to add a payment method, let’s move on to actually purchasing some BNB. However, keep in mind that crypto prices can rapidly fluctuate — especially relative to one another — so make sure you’re aware of the exchange rates at your time of purchase.
Initially, Binance Coin had a total supply of 200 million tokens but the current total supply is lower and decreasing due to periodical burning events. The first thing you’ll want to do is make sure you have MetaMask all set up. If you don’t, please check out my previous tutorial on setting up MetaMask (or a WalletConnect wallet).
What Is the Purpose Of BNB?
Binance Coin (BNB), is a utility token for trade discounts on Binance, the largest crypto exchange. It’s also used as “gas” for the Binance Smart Chain, a blockchain network built to run smart contracts. BNB interacts with and allows developers to build on the layer-1 blockchain known as the BNB Smart Chain. The Binance exchange also uses it to promote discounted trading fees as an incentive to holders.