How and Where to Buy BNB Without Binance

BNB is issued by Binance, and one of the benefits of holding the coins is that it entitles holders to a discount on trading fees on the Binance exchange. However, many crypto enthusiasts prefer other platforms for best-known reasons, although Binance is the most popular.

So, what exactly is Binance? Binance is a blockchain network like Bitcoin and Ethereum, as well as a crypto exchange platform that the article focuses on. Binance cryptocurrency exchange allows users to trade digital assets such as BTC, ETH, LTC, and others. It also offers its native token, Binance Coin (BNB), which holders can use to pay trading fees on the platform. Binance was founded in 2017 and is registered in the Cayman Islands.

Can I use BNB Smart Chain and Beacon Chain outside Binans?
While the Binance Smart Chain and Beacon Chain are powered by the BNB coin, they operate independently of Binance. In other words, you do not need to be a Binance user to use any of these platforms.

The Binance Chain infrastructure — built on top of the Binance Smart Chain — is a high-performance blockchain that is fully compatible with Ethereum's smart contracts. It also has BNB, a native token that users can use to pay transaction fees on the network. In addition, the Binance Beacon Chain is a new type of decentralized network that enables cross-chain communication and allows stacking of BNB tokens.

Where can I buy BNB or BUSD without Binans?

BNB coin is a digital currency created by Binance. At the same time, BUSD is a Binance-branded stablecoin pegged to the US dollar and issued by Paxos. Both BNB and BUSD are used for trading on crypto trading platforms. If you want to buy without using Binance, there are several ways.

1. Exchange
Privately operated platforms, known as cryptocurrency exchanges, enable the trading of one or more cryptocurrencies. Exchanges act as intermediaries between buyers and sellers and generate revenue through commissions and transaction fees. When choosing an exchange, compare fees, currency availability, and security features.

2. Wallet
A cryptocurrency wallet is a device, physical medium, application, or service that stores public and private keys for cryptocurrency transactions. There are two main categories of crypto wallets: hot and cold.

While hot wallets are connected to the internet, cold wallets are offline wallets that are connected only when necessary.

There are three main types of hot wallets:

Web wallets can be accessed from browsers and store the user's public and private keys.
Desktop wallets store users' keys in a wallet application on the user's desktop computer.
A mobile wallet is software that stores a user's public and private keys on a smartphone.
You can create BNB Wallet here: Create BNB Wallet

2 types of cold wallets:

Users’ hardware wallets store private keys on a physical medium, usually a USB stick.
Paper wallets where users handwrite or print public and private key information on a piece of paper.

3. P2P Marketplace,

Peer-to-peer (P2P) cryptocurrency exchanges allow cryptocurrency investors to transact directly with each other to buy and sell cryptocurrencies. Unlike centralized exchanges, this exchange is less susceptible to malicious attacks and no intermediary manages your money while you trade.

Can I Sell, Send or Exchange BNB Without Binance?

Yes you can. Under the previous heading, you get an idea of where you can buy both BNB and BUSD. It is no different under this heading. You can sell, send and exchange BNB on exchanges, wallets and P2P markets.

All you need to sell, send or exchange BNB is a smartphone or computer with an internet connection. Then, compare the platforms based on their functionality, pricing, and security. Also, have the necessary ID handy as certain trading platforms require you to go through the KYC/AML procedure to prove your identity. After these, you need BNB in your portfolio to start trading.

Easy Steps to Buy BNB,

Create an account. As mentioned earlier, some platforms require you to verify your identity.
Save your password and other private information like your private key, reminder or recovery phrase, and backup. This is because some platforms do not save on their servers, so if you lose them your money is gone forever.

Buy BNB using any payment method you choose after adding it to your trading platform portfolio. Next, enter the currency you want to pay for BNB (USD, EUR and others) and click the ‘Buy’ button to buy BNB.
After purchasing BNB, you can sell it to receive your funds, send them to other addresses, and exchange them for other cryptocurrencies.

Where can you store BNB if you don't have Access to Binance?

If you need to access Binance, you may wonder where to store your BNB. There are other options. You can store your BNB funds in a custodial or non-custodial wallet.

With a non-custodial wallet like Guarda, you have full control over your private keys, giving you full control over your cryptocurrencies. This is different from third parties managing your private keys when you use a custodial wallet. Most web-based exchanges in the crypto space are custodial wallets

conclusion,

Binance is a cryptocurrency exchange platform that allows users to trade in various cryptocurrencies. Binance Coin (BNB) is the native coin used on the Binance Chain. BNB has two main functions: it can be used as a payment method on the exchange and as a staking token.

There are several ways to purchase BNB without going through Binance. One way is to use a cryptocurrency exchange, P2P marketplace, or a wallet that supports BNB. Wherever you buy BNB, research the platform, its team, and its history.