The Binance Coin (BNB) is up by 8% and is currently trading at $375.31 at the time of writing
The Binance Coin is up by 8% in a day and the bulls have regained control. The BNB token could see another leg of the rally if the whales continue to accumulate huge volumes. The early holders of Binance Coin could receive handsome rewards if the token continues to rally in the future. The BNB token is up even as the broader crypto market is in a bearish mode and this proves why it is such an attractive investment option.
How & where to buy Binance Coin in the UK and elsewhere
In order to trade BNB, you will need access to an account on a broker/exchange platform. The account registration process is simple and quick. All you need to do is provide your full legal name, email address and phone number. You will also need to provide copies of your driving license and utility bill to comply with the Know Your Customer (KYC) requirements. Avoid trading on decentralised platforms as they are unregulated and you could lose all your funds if you’re not careful.
For your benefit, we have selected two of the best platforms where you can trade securely.
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
CFD broker Pepperstone was founded in Melbourne, Australia in 2010 by a team of experienced traders with a shared commitment to improving the world of online trading. Pepperstone has grown rapidly in a relatively short time and is now one of the largest MetaTrader brokers in the world. Over 300,000 traders around the world already trust the Pepperstone brand. A total of 1000+ tradable instruments are offered. In addition to 60 currency pairs, the broker also offers 14 cryptocurrencies, including Bitcoin, Ethereum, Cardano, Dogecoin, Ripple etc. for trading as CFDs.
What is Binance Coin?
The Binance Coin is the native token of the Binance Exchange. It is one of the largest crypto exchanges in the world. Holders of the Binance Coin are eligible to get discounts and access to exclusive ICOs. The users can also earn a passive income through yield aggregation if they hold BNB tokens in the Binance vault. The Binance exchange carries out a regular burn that helps to increase the price of the Binance Coin by reducing its supply.
Should I buy BNB today?
The Binance Coin is in resurgent mode and could rally higher if the bulls retain interest. The BNB token has the potential to rally further and could possibly target the $400 level and beyond if the whales continue to push prices in the short term. Traders could also use this opportunity to book short term gains.
This article is informational only—none of the contents should be construed as financial or investment advice.