Buy Binance Coin with a credit card
You can buy BNB for USD and other fiat currencies here at SwapSpace! We provide an easy way to do that via one of our partners, such as Mercuryo, Guardarian, or Simplex, with a few simple steps right on this page. You can also look at Binance Coin price dynamics and history, get some answers to your questions, and find some useful links to read more about what is BNB.
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Binance Coin live price chart
BNB price can be volatile. You can see the history of price changes in the cryptocurrency price chart below to help you make the best decision while considering buying crypto.
Binance Smart Chain (BSC) and Binance Coin (BNB) are integral components of the Binance ecosystem, which is a prominent player in the world of cryptocurrencies and blockchain technology.
Binance Smart Chain is a blockchain platform designed for the creation and execution of decentralized applications (DApps) and smart contracts. It was developed by Binance, one of the largest cryptocurrency exchanges in the world, and launched in September 2020.
BSC was introduced as a blockchain platform to compete with Ethereum by providing a more scalable and cost-effective solution for decentralized applications (DApps) and smart contracts. BSC was designed to be interoperable with Binance Chain (BC), which was already in operation. This allowed assets to be moved seamlessly between BSC and BC, expanding the utility of Binance's blockchain ecosystem.
Binance was founded by Changpeng Zhao, commonly known as "CZ." Changpeng Zhao is a prominent figure in the cryptocurrency industry and has played a significant role in the growth and development of Binance into one of the world's largest cryptocurrency exchanges. Prior to founding Binance, CZ had experience working for other notable cryptocurrency and blockchain companies, including Blockchain.info and OKCoin. Under his leadership, Binance has become a major player in the blockchain and cryptocurrency space, offering a wide range of services beyond just cryptocurrency trading, including Binance Smart Chain, Binance Coin (BNB), and more.
BSC is often compared to Ethereum because it supports the Ethereum Virtual Machine (EVM) and is compatible with many Ethereum-based DApps and tokens. This means that developers can easily port their Ethereum projects to BSC, often with faster and cheaper transactions.
Binance Smart Chain is known for its fast block confirmation times (around 3 seconds) and low transaction fees, making it an attractive option for users and developers. BSC operates alongside the Binance Chain (BC), which is used for trading and transferring BNB. This dual-chain architecture allows users to move assets between the two chains seamlessly.
BSC uses a consensus mechanism called PoSA, which combines elements of Proof of Stake (PoS) and Proof of Authority (PoA). Validators are chosen through a staking and governance process, enhancing network security and decentralization.
BSC offers staking opportunities for BNB and other tokens, allowing users to earn rewards by participating in network security and governance. BSC is used for a wide range of applications, including decentralized finance (DeFi) projects, non-fungible tokens (NFTs), gaming, and more. Many popular DeFi projects, like PancakeSwap and Venus, are built on BSC.
The primary purpose of the Auto Burn mechanism is to manage the total supply of BNB tokens and potentially increase their value by reducing the available supply. This scarcity can make BNB more attractive to investors and users.
BNB's "Auto Burn" mechanism is created within the Binance Coin (BNB) ecosystem to reduce the total supply of BNB tokens over time. This mechanism is designed to create scarcity and potentially increase the value of BNB tokens by regularly removing a portion of them from circulation. Binance conducts regular quarterly token burns, during which a specific number of BNB tokens are permanently removed from circulation. These burns are typically announced and conducted by Binance itself.
The number of BNB tokens burned during each quarterly event can vary. The exact amount is determined by Binance, but it is often based on factors such as trading volume, transaction fees, and overall usage of the Binance platform during the preceding quarter.
BSC quickly gained popularity in the decentralized finance (DeFi) space, with numerous DeFi projects launching on the platform. Popular DeFi protocols like PancakeSwap, Venus, and BakerySwap are built on BSC. BSC also saw the development of non-fungible token (NFT) platforms and projects, adding to the diversity of applications on the network.
Binance Coin (BNB) was originally created as an ERC-20 token on the Ethereum blockchain during Binance's initial coin offering (ICO) in 2017. However, with the launch of Binance's own blockchain, BNB transitioned to become the native cryptocurrency of both Binance Chain (BC) and Binance Smart Chain (BSC).
BNB is primarily used to pay for transaction fees on the Binance exchange. This includes trading fees, withdrawal fees, and other transaction-related expenses. BNB also has utility within the Binance Smart Chain ecosystem. It can be used to pay for gas fees when executing smart contracts, participating in token sales on the Binance Launchpad, and various other DeFi applications. BNB can be staked on BSC, allowing users to earn staking rewards and participate in the governance of the BSC network.
In addition to its status as the world's largest cryptocurrency exchange, Binance has established a comprehensive ecosystem of services to cater to its users. The Binance network encompasses Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and various research initiatives, all harnessing the capabilities of blockchain technology to usher in a new era of financial solutions. BNB plays a pivotal role in ensuring the seamless operation of numerous sub-projects within the expansive Binance ecosystem.
Both Binance Smart Chain and Binance Coin play crucial roles in the Binance ecosystem, offering users and developers alternatives to traditional financial services and blockchain platforms with fast, cost-effective, and versatile solutions.
BNB has a capped supply of 200 million tokens. Binance conducts periodic token burns, removing BNB from circulation to help manage supply and potentially increase its value over time. As of September 2023, both total and circulating supplies are at 153,849,524 BNB.
Average Fees on the Binance Smart Chain
BSC offers lower transaction fees compared to Ethereum, making it more cost-effective for users and developers. As of summer 2023, the average fee on the Binance Smart Chain is around 0.097 BNB.
Where and How to Buy BNB
The Binance Coin (BNB) can be purchased on various cryptocurrency exchanges. You can buy BNB right here on SwapSpace — look below to find an instruction on how to buy Binance Coin.
How to buy BNB on SwapSpace
On this page, we put USD in the “You send” and BNB in the “You get” sections in the widget. USD is the default, but you can choose your preferred fiat currency. Put in the amount of fiat you want to spend. Next, press the ”View offers” button and choose a provider.
Fill in the “Enter the recipient address” field with the destination Binance Coin address. Check the information carefully and click the “Next” button. After reading the special terms and conditions in the next window, click “Next” again.
At this point, you will either see our partner’s widget or be redirected to another page, depending on the chosen provider. You will be asked to verify your identity, as this is standard practice for the services that work with fiat money. Follow the provider’s instructions on the screen.
After completing the KYC procedure, fill in your credit card information. At this point, everything is in place and your transaction will start.
Wait for the transaction to process. You’ll see a message when it’s completed. A window with your transaction details will also appear; from there, you can also create another crypto-fiat exchange.
