- Token Burns: Binance regularly destroys BNB tokens (18.7 million BNB burned to date), reducing supply and potentially increasing value.
- Market Correlation: When Bitcoin rises, BNB typically follows with 0.72 correlation coefficient.
- Regulatory Developments: Government decisions about crypto regulations directly impact BNB’s value—as seen when BNB dropped 12% after regulatory announcements in 2023.
- Ecosystem Growth: The expansion of Binance Smart Chain, which now hosts over 4,000 active dApps, drives demand for BNB.
- Trading Volume: Higher Binance exchange activity increases BNB utility and potential value.
New to crypto trading? This comprehensive overview will help you understand what BNB is, how it works, and how to invest in BNB step-by-step -- even if you're a complete beginner with no prior experience.
What is BNB?
BNB (Binance Coin) is the native cryptocurrency of Binance, the world’s largest cryptocurrency exchange by trading volume. Originally launched in 2017 to reduce trading fees, BNB has evolved significantly. Today, it powers the entire Binance ecosystem including Binance Smart Chain (BSC), which hosts thousands of decentralized applications (dApps), NFT marketplaces, and DeFi protocols. With a market cap exceeding $60 billion, BNB ranks among the top 5 cryptocurrencies globally. For users wondering how to get BNB, the token serves multiple functions: reducing trading fees (up to 25%), paying transaction costs, participating in token sales, and enabling purchases across hundreds of merchant platforms.
How Currency Quoting Works (Simple Explanation)
In trading markets, BNB is typically quoted against the US Dollar as BNB/USD. For example: BNB/USD = 420 means one BNB token equals 420 USD. In this pair, BNB is the base asset and USD is the quote currency. When this number rises to 450, BNB is gaining value against the dollar. When it falls to 390, BNB is losing value.
For beginners learning how to trade BNB, think of it like exchanging currencies while traveling: if the exchange rate improves, your base currency buys more of the foreign currency. This basic understanding is essential for anyone interested in how to invest in BNB effectively.
Factors That Influence BNB Price Movement
Several key factors influence BNB price movements:
For example, during the Q1 2023 BNB burn event, which removed 2.1 million tokens from circulation, BNB price increased by 8.5% within 24 hours. Understanding these factors is crucial for anyone learning how to get BNB coin for investment purposes.
How to Read BNB Price Movements
Understanding BNB price trends is fundamental for successful trading:
- When BNB/USD moves from 420 to 430, BNB strengthens by 2.38% against USD.
- When the price drops from 420 to 410, BNB weakens by 2.38% against USD.
For visual traders: green candles indicate price increases, while red candles show decreases. BNB can be volatile, with price shifts of 5-10% within hours not uncommon. This volatility creates opportunities for traders who know how to buy BNB at lower prices and sell at peaks.
Technical indicators like Relative Strength Index (RSI) and Moving Averages help predict potential reversals. For example, when RSI drops below 30, BNB may be oversold and due for a rebound—a potential buying opportunity for traders.
BNB Quick Trading Tutorial on Pocket Option
Here’s how to start trading BNB on Pocket Option:
- Find the asset: Select BNB OTC from the asset list (available 24/7).
- Analyze price patterns: Use the built-in RSI, MACD, or Bollinger Bands indicators to identify potential entry points.
- Set your investment: Start with as little as $1 per trade (perfect for beginners learning how to buy BNB smart chain).
- Choose expiration time: Select from 5 seconds up to several hours (5 seconds minimum for OTC assets).
- Make your market forecast:
- Predict price rise? Click BUY (green button).
- Expect price drop? Click SELL (red button).
- Review potential profit: Earn up to 92% ROI on successful trades, with exact profit percentage displayed before confirmation.
For newcomers wondering how to buy BNB on Coinbase and transfer it to trading platforms, Pocket Option offers a simpler alternative: start with just a $5 minimum deposit via 20+ payment methods, or practice risk-free with a $50,000 demo account.
Try BNB Trading Without Risk — Get $50,000 in a Demo Account
Not ready to risk real money while learning how to trade BNB? Pocket Option provides an instant $50,000 demo account after registration. This practice environment lets you:
- Test multiple BNB trading strategies without financial risk
- Explore real-time price movements with 20+ technical indicators
- Master the platform’s tools before committing any capital
- Develop confidence in reading market signals
When you’re ready to transition, switch to a live account with just $5 and unlock premium features:
- Copy Trading system (follow expert BNB traders automatically)
- Up to 15% cashback on all trades
- Weekly trading tournaments with prize pools exceeding $50,000
- Full access to advanced charting tools and VIP signals
This gradual approach is ideal for beginners wondering how to get BNB and start trading it with minimal experience.
*Note that deposit may vary depending on payment methods.
FAQ
How to buy BNB on Coinbase Wallet?
To buy BNB on Coinbase Wallet, first fund your wallet with ETH or USDC. Then open the DApp browser within Coinbase Wallet, connect to a decentralized exchange like Uniswap or PancakeSwap, and swap your ETH/USDC for BNB. Note that you'll need to ensure you're getting BNB on the correct network (BEP-2, BEP-20, or ERC-20) depending on your needs.
How to buy BNB on Coinbase?
Coinbase doesn't directly list BNB for purchase. Instead, you'll need to buy another cryptocurrency on Coinbase (like ETH or USDT), transfer it to a compatible exchange like Binance or KuCoin, and then exchange it for BNB. Alternatively, some users prefer using Pocket Option for direct BNB trading without these transfer complications.
How to buy BNB Smart Chain?
To buy BNB Smart Chain (BSC), purchase BNB on an exchange like Binance, then when withdrawing, select the BEP-20 network (Binance Smart Chain) rather than BEP-2 (Binance Chain). Your BNB will automatically be compatible with all BSC dApps and services. Make sure your receiving wallet supports the BEP-20 network to avoid losing funds.
How to get BNB coin for trading?
To get BNB coin for trading, you have several options: 1) Purchase directly on Binance with credit/debit card or bank transfer; 2) Buy on other exchanges like FTX or Gate.io; 3) Use P2P platforms to buy from other traders; or 4) Trade other cryptocurrencies for BNB on decentralized exchanges. For short-term price speculation without owning the actual coin, platforms like Pocket Option offer simplified BNB trading.
How to buy BNB with minimal experience?
For beginners wondering how to buy BNB with minimal experience, start with Pocket Option's demo account to understand pricing and movements. When ready, either deposit $5 to trade BNB directly on Pocket Option, or use beginner-friendly exchanges like Binance or Coinbase (buying another crypto first, then exchanging it for BNB). Mobile wallets like Trust Wallet also offer simple BNB purchasing via credit card for beginners.