How To Buy Binance Coin UK – Buy Binance Coin In Under 5 Minutes

Initially developed as an ERC-20 token, powered by the well-known Ethereum network – Binance Coin drives the Binance ecosystem. Management has since exchanged these for BEP-2 BNB, which is the native Binance Coin. Fees are super low and this cryptocurrency can be used to pay for exchange commissions, travel, goods, and much more.

If you are interested in learning how to buy Binance Coin in the UK – you need a decent platform by your side to enter this speculative marketplace. In this guide, we explain the ins and outs of how to buy BNB tokens, review the best two brokers in the space and explain how you can sign up today.

#1 Broker to Buy Binance Coin – eToro

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  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
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How To Buy Binance Coin – Choose a Broker

As we mentioned briefly, it’s a good idea to ensure you look to buy Binance Coin from a reliable source and not just any broker on the internet. There are many sharks in the crypto trading space, so we have saved you some research by reviewing the top two platforms offering this popular currency:

  • eToro – Overall Best Broker to Buy Binance Coin UK
  • Binance – Best Broker to Buy Binance Coin for Asset Diversity

You will see the full review of each shortly – after the following walkthrough.

How to Buy Binance Coin in the UK – A Quick Guide For 2021

If you lack the time to read this entire guide on how to buy Binance Coin in the UK, below you will see a quickfire walkthrough to get you started.

  • Step 1: Open an Account with eToro – This broker came out number 1. The platform is FCA-regulated and you can place an order on Binance Coin from just $25.
  • Step 2: Upload Your ID – The proof of address verification process at eToro is fast and simple. Upload an official ID such as your passport, and a recent bank statement or utility bill as your proof of address.
  • Step 3: Deposit Funds – eToro accepts a plethora of payment types – covering everything from credit/debit cards and bank accounts to e-wallets such as PayPal and Skrill.
  • Step 4: Buy Binance Coin – Use the search box or look in markets for Binance Coin and hit ‘Trade’ when you find it. Fill in the amount box depending on how much you would like to allocate to BNB coins. Next, you can confirm by hitting ‘Open Trade’.

As you can see, it’s never been more simple to buy Binance Coin in the UK. Once you have completed Step 4, you will see your purchase appear in your eToro portfolio!

via eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Where to Buy Binance Coin in the UK

In this section of our guide, you will see full reviews of the top two platforms to buy Binance Coin in the UK. We look for brokers with super low fees, an easy-to-use website, and features and tools to enhance your experience. We also scrutinize the provider’s reputation and choice of deposit methods – amongst other factors.

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for $ 100 you get
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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

1. eToro – Overall Best Broker to Buy Binance Coin UK

etoro revieweToro has over 20 million clients worldwide and is well known amongst traders and investors alike. This platform is denominated in USD. As such, non-US clients will pay a small FX charge of 0.5% when making a deposit. Other accepted payment methods include credit and debit cards, bank transfers, and e-wallets like PayPal and Neteller. One of the most appealing things about this provider is that you will not pay any commission fees to buy and sell Binance Coin, or any other asset.

Plus, the spread is tight across the board. FCA, CySEC, and ASIC regulate this online broker, so you can store your BNB investment in safety. As well as this asset, you will also find popular digital offerings such as Ripple, Litecoin, Ethereum, and Bitcoin. This guide also found plenty of smaller crypto-assets and stable coins. This includes Mana, Algorand, Cardano, Tezos, Dogecoin, Stellar, and Tether. If you have less than say $500 to allocate to buy Binance Coin, it might be better to stick with three or less to start with, to avoid overcomplicating things when checking your portfolio.

With that said, the eToro platform is really easy to navigate, no matter what your previous experience is. There are some great features at eToro. The most noteworthy is probably Copy Trader. So, how does it work? It’s sort of like having a personal account manager without the fees attached. Simply find a person who is focused on cryptocurrencies and study data surrounding their success, risk exposure, and so on. You can invest from $500 with a minimum copied position amount of $1.

For example, if they allocate 2% of their trading capital to a Binance Coin buy order, this will be replicated in your portfolio – in proportion to the amount you invested. You can choose to mirror all existing open trades or just start from the date you invest in the trader you want to copy. Please note that all minimums are subject to change. You may also look to try CryptoPortfolio, much in the same way. This is a passive way to buy Binance Coin in the UK. This is an investment product that consists of a portfolio of the top crypto-assets – balanced by market cap.

Asset allocation is rebalanced annually by the team at eToro. Newbies may also be interested in the demo account with $100,000 paper equity to buy, sell and get to know the platform – risk-free. eToro is suitable for traders and investors of all budgets. The minimum first deposit to get the ball rolling and set up your account is just $200. Either way, you can buy Binance Coin from just $25 here. This is a regulated provider, so you will need to send documentation to prove your identity, which is standard practice. This allows you to buy and sell BNB tokens, but also means the brokerage will store your crypto-assets for you.

Pros

  • Invest in cryptocurrencies on a spread-only basis
  • Buy thousands of UK and international stocks at 0% commission
  • Minimum investment per trade from just $25
  • Supports debit/credit cards, e-wallets, and local bank transfers
  • Regulated by the FCA, CySEC, and ASIC
  • Used by over 20 million people
  • Perfect for beginners
  • Social and copy trading tools

Cons

  • Perhaps too basic for technical traders
  • No support for MT4 or MT5

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Binance – Best Broker to Buy Binance Coin for Asset Diversity

This exchange is no stranger to the cryptocurrency scene. In terms of trading volume, this is one of the biggest crypto platforms on the planet. Moreover, the provider serves over 100 million clients around the world. It’s easy to buy Binance Coin here. The process is secure and is seamless and there is a good variety of payment methods to choose from when you want to fund your account.

Non-US residents can opt for a bank transfer, without paying any fees. Other options include debit and credit cards and third-party options such as Simplex. You can choose stable coins like USDT and fiat currencies, US dollars, and euros, amongst others. This how to buy Binance Coin in the UK guide found over 500 currencies here. This includes Ripple, Bitcoin,, Shibu Inu, Ethereum, Polkadot, Chainlink, and many more. Small-cap crypto assets include Mask, Everipedia, Wabi, LUNA, Cryptyk, Enzyme, and others.

Binance is considered to be a safe exchange. For extra protection, this platform advises users to manually enable Two Factor Authentication (2FA). You can also ensure you change your password frequently and check the device management tool on your account to see which other devices you have enabled. In terms of fees, this platform operates on a maker/taker fee structure, whereby high-volume crypto traders will be rewarded with lower commissions.

As we talk about later – you can also cut costs by paying these fees with BNB tokens and bagging a 25% discount. There is also the Binance Referral Scheme, which allows you to earn up to 40% in commissions – each time people you recommended to the platform decide to trade. For this, you will need to register for the relevant QR codes and referral links. This provider goes one step further by offering a security option called Address Management. With this, you can put a cap on the number of crypto wallet addresses you use when you buy Binance Coin in the UK.

The Address Management feature also requires you to confirm each new passcode via your email, so that it can incorporate it into the whitelist. This platform also has a new Trust Wallet app which is powered by Blockchain and features easy access to decentralized apps, advanced security, and an easy-to-navigate interface. The free application is also compatible with various other cryptocurrencies and you can deposit or buy Binance Coin in the UK directly. You may also be interested in earning daily rewards in BNB coins – at up to 30%+ APY. To access this, go to the Finance section.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit cards and local bank transfers
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

at eToro, UK’s #1 Broker

Cryptoassets are highly volatile unregulated investment products. No EU investor protection

How to Buy Binance Coin in the UK – Detailed & Explained in Full

If you have never traded a day in your life, the prospect of finding a broker is no doubt a daunting one – never mind signing up with one. As such, below we have detailed how to sign up and buy Binance Coin in the UK – to start you off on the right foot.

Step 1: Open a Crypto Broker Account

We are using eToro for the purpose of this walkthrough. We chose this online broker because it’s easy to buy and store Binance Coin, and you will not pay any commission fees. Plus, eToro is regulated by the FCA. With that said, you can sign up with the provider most suitable for you and take this as a general guide.

Look for the button to join and click this to reveal the signup box. Next, you can fill in the relevant details. This includes your first and last name, email address, and a password that you will remember – followed by your full residential address and date of birth.

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Upload Some ID

eToro is regulated, so will also need to ask you a few questions regarding your experience as a trader, income, and understanding of risk.

  • Next, you can complete your account registration by uploading your proof of identity – most people use a passport or a driving license.
  • For the crypto platform to complete the validation process – you will also need to send a recent utility bill or bank statement.

eToro uses automated technology to validate ID. As such, you should have your account confirmed and be able to buy Binance Coin in the UK within minutes. You can go ahead and make a purchase prior to uploading the aforementioned documentation. With that said, you will be limited to deposits below $2,250 and will be unable to withdraw funds.

Step 3: Fund Your Account

Of course, before thinking about how to buy Binance Coin in the UK – you need to add some funds to your account. That is unless you utilize the free demo facility available at eToro to get to know the platform first.

Accepted deposit methods at eToro include:

  • Credit and debit cards like Visa and Mastercard
  • e-Wallets such as Paypal, Skrill, and Neteller
  • Bank transfers

As we touched on earlier, non-US deposits will be subject to an exchange fee of 0.5%. This amount works out at $5 for every $1,000, and remember, you will pay zero in commission fees!

Step 4: Search for Binance Coin

Now, you can search for Binance Coin. As we mentioned in our review, this is stress-free here. Either type the crypto-asset into the search box as we have below or click ‘Trade Markets’ to reveal the full list.

You are now one step closer to buying Binance Coin in the UK! Simply click on the correct coin and an order box will appear.

Step 5: Buy Binance Coin UK

At this stage, you have opened an account, verified your identity, and located your chosen cryptocurrency. When considering how to buy Binance Coin, think about how much you would like to allocate to your purchase and enter the amount in the relevant box.

Once you have made your final decision, you can confirm everything by clicking ‘Open Trade’. eToro will action your order immediately and you will see your purchase appear in your portfolio.

Recommended Broker
eToro
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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

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Capital.com
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CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

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CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
31814
Trading Fees
SpreadsCommissionN/A
Deposit Fees
N/A$0N/A
Withdrawal Fees
5 USD$0N/A
Regulated
N/AYesCBI and MiFID in Europe
Min. Deposit
50$$20$100
Leveraged Trading
N/AYes1:2 for cryptocurrencies
Bitcoin
$42980.00$43018.68$43126.11
Ethereum
$2950.38$2898.26$2905.50
XRP
$0.96$0.94$0.95
Tether
$1.00N/AN/A
Litecoin
$155.32N/A$153.33
Bitcoin Cash
$526.05N/A$522.69
Chainlink
$23.92N/A$24.28
Cardano
$2.44N/AN/A
IOTA
$1.24N/A$1.21
Binance Coin
$360.87N/AN/A
Stellar
$0.28$0.28$0.28
EOS
$4.14N/A$4.08
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

Buy Binance Coin – Best Place to Buy Binance Coin in the UK

When you are educating yourself on how to buy Binance Coin in the UK – it’s a good idea to be aware of all of your options before committing to anything. After all, the crypto space is teaming with good, bad, and ugly providers.

Online Cryptocurrency Broker

Generally speaking, the safest place to trade and invest in digital assets is via a respected cryptocurrency broker. The reason is – rather than having to go over to an exchange and find someone who wants to trade with you, you can go to the brokerage directly. Furthermore, as we said, in many cases, this also means you can store your BNB coins in one place – instead of concerning yourself with a crypto wallet and its safety.

The best cryptocurrency brokers to buy Binance Coin tokens at are the ones with low fees and heaps of deposit options – amongst other things. Another bonus with this type of platform is that regulators like the FCA require licensed brokers to follow client fund segregation and various other rules to protect you.

To give you an example, eToro has a sterling reputation and is watched over by the FCA, ASIC, and CySEC. These are amongst the most well-known regulators in the world. As such, if you decide this is the right platform for your needs, the broker will hold your funds in a tier-1 bank account (separate from the company) and SSL encryption will protect your personal information.

Cryptocurrency Exchange

Cryptocurrency exchanges are a different story altogether to buy Binance Coin. We cannot categorically say that all are operated by unsavory companies – some are legitimate. However, many are free from the eyes of regulatory bodies. This means that you may not know what kind of code of ethics, if any, the platform follows until it’s too late.

In other words – unregulated exchanges have no one to answer to, so may conduct business how they wish. Another point when thinking about how to buy Binance Coin in the UK is storage.

As we mentioned, regulated online brokers will often be able to store your coins for you. This means that you can do everything under one roof, which is far a simpler option for newbies. Not only will they probably expect you to secure your own investment at a cryptocurrency exchange – but the trading fees are usually higher on such platforms.

Ways to Buy Binance Coin UK

Now that we have talked about where you can buy Binance Coin – we can discuss the ways in which you can go about paying for it.

Buy Binance Coin With Debit Card

If your preferred payment method is a debit card, at most platforms you will need to ensure you have completed your account registration before making a purchase. To buy Binance Coin this way, the crypto broker will require you to upload the aforementioned documents for proof of address and identity. This is all part of KYC to ensures the provider knows who it is facilitating a financial service for.

As we mentioned in the signup walkthrough earlier, eToro completes this process within minutes. Other platforms may take days. You should also check any fees payable.

Buy Binance Coin With Credit Card

If you are a credit card user, you shouldn’t struggle to find a cryptocurrency broker to buy Binance Coin in the UK. However, remember, fiat deposit compatibility is less likely at a crypto exchange. You should also be very mindful of the potential fees involved with this method of paying for digital tokens.

The reason is, like in the case of ATM withdrawals, many credit card providers see buying cryptocurrencies as a cash advance – and will charge that fee accordingly. Again, you must also validate your ID before learning how to buy Binance Coin with this form of payment.

Buy Binance Coin with Credit Card >

Buy Binance Coin With Paypal

If you are a PayPal user researching how to buy Binance Coin in the UK – you will probably notice that not many providers accept this method. If this sounds like you, you may want to consider the top-rated platform eToro. As we mentioned in our earlier review, not only does this broker accept e-wallet deposits, but you will not pay commissions – and the fee to fund your account is a highly competitive 0.5% (for converting to USD).

Buy Binance Coin with PayPal >

Buy Bitcoin Coin With Bitcoin

If you are already a holder of Bitcoin and are just here to learn how to buy Binance Coin specifically – you may be pleased to hear you can purchase BNB coins using BTC tokens! Whilst not all platforms are able to accept crypto deposits, the Binance exchange does.

Simply head over to your account on the app or main platform and click deposit – next, select ‘BTC’. Once you have Bitcoin tokens in your account, you can use them to buy Binance Coins.

Buy Binance Coin with Bitcoin >

Why Buy Binance Coin UK?

There is a strong possibility you believe Binance Coin is a good investment right now. To offer some more insight, we have listed a few more reasons this digital currency is gaining popularity – amongst crypto investors of all shapes and sizes.

Buy Binance Coin for its Increasing Value

Binance Coin was first introduced in 2017. As we mentioned, it was initially part of the Ethereum network, which put it in good stead. Fast forward to 2021 and this digital currency continues to climb the pricing charts.

If you were looking at how to buy Binance Coin in the UK back in 2017, you would have been able to buy a full BNB coin for just $0.10 (around £0.07 today).

See an example below of how this might have played out:

  • It’s 2017, you allocated $1,000 to Binance Coin, so had 10,000 BNB coins
  • As of July 2021, you would be looking at a figure closer to $315 per token (approximately £228)
  • This is a price increase of 199,873%
  • Today, your initial investment of $1,000 would now be valued at over $3.1 million

With all of this said, buying Binance Coin, or any other cryptocurrency isn’t something to be taken lightly. This asset class is highly speculative and volatile. As you can see in the above example, BNB price can fluctuate (in either direction). For instance, BNB tokens experienced an all-time high of $676.62 in May 2021, which would have evaluated your investment at over $6.7 million!

Buy Binance Coin for the Incentives

There are some incentives to be aware of when learning how to buy Binance Coin in the UK. See below key features that make this utility cryptocurrency unique.

  • The Launchpad Lottery Program: With this program, investors and traders can invest in new crypto ideas that the Binance team has rigorously evaluated. The largest BNB holders can claim the most amount of lottery tickets. For instance, if you have a daily BNB balance of more than 50, but less than 100 – you can claim one. If your BNB coins exceed 500 – you will be awarded 10 lottery tickets. You can find out more by visiting Binance.
  • Discount on Trading Fees: As a BNB user, you can claim a 25% discount on trading fees each time you use these coins as your payment method. This includes paying commissions. Please note that if what you have in your account balance doesn’t cover isolated margin trading fees, you will not be awarded this reduction.

Another incentive to buy Binance coins in the UK is that the team behind this cryptocurrency offers a rebate for anyone signing up for a membership spanning 5 years or more!

Self-Destruct Feature

Every quarter (so far 7) – Binance allocates around 20% of its gains to buy back and burn the equivalent in BNB coins. This is possible thanks to the cryptocurrency’s self-destruct feature, which permanently destroys a chunk of the reserve and therefore increases the price of this asset.

This is comparable to a share repurchase in the traditional stock arena. Although, instead of the company in question buying its own shares to shrink the number available to the general public – BNB tokens are totally destroyed to offer investors better value.

Binance Coin is in Demand – Regardless of Alternative Markets

Due to the fact that Binance Coin is largely used for paying fees, the demand for digital currency is never-ending. This is because, every time someone utilizes this crypto-asset to cover charges when making a trade, more BNB tokens are used. Of course, the fewer there are, the likelihood is they become more valuable.

The Binance exchange is one of the most traded in the world – so there is no sign of things slowing down – for the platform or its native coins. As such, perhaps there is no better time to learn how to buy Binance Coin!

The Cost of Buying Binance Coin

Before utilizing what you’ve learned in this how to buy Binance Coin in the UK guide – open your eyes to the fees involved. Crypto platforms need to make money themselves to continue offering a service to millions of traders and investors.

See below the most commonly seen fees.

Deposit Fees

Some newbies automatically think about commission fees without considering the deposit charge. No two platforms are the same. Before you consider how to buy Binance Coin in the UK, you need to check the relevant fee table – to see what the charge will be to add funds to your account.

Some crypto brokers charge 3-5% to fund your account with credit or debit cards. eToro merely charges the previously mentioned 0.5% fee to swap GBP to US dollars. Another option is to buy Binance Coin at Binance using a bank transfer – and pay nothing!

Trading Fees

Trading fees should be another factor to think about. This guide found that some popular crypto exchanges charge over 3% for every trading order or purchase. Commissions at the Binance exchange start at just 0.1% per slide.

Alternative crypto broker eToro will only require the spread to trade crypto-assets, which is competitive – starting at around 0.75%. Now you know what to keep an eye out for when weighing up how to buy Binance Coin in the UK and should feel confident hitting the markets.

Selling Binance Coin: A Quick Overview

Selling your BNB coins doesn’t have to be a headache. If you buy Binance Coin via a respected brokerage, you just need to sell the asset back to the provider with a simple ‘sell’ order to cash out. This is because, as we mentioned, the provider is able to store your coins for you. Taking this route cuts out the need to withdraw tokens from your private wallet and then send your investment back to the platform in question to cash out.

How to Buy Binance Coin UK – Conclusion

Binance Coin has experienced an incredible increase in value since its creation in 2017. The crypto-asset started with a price of $0.10 and experienced new all-time highs of $676.62 in May 2021. When thinking about how to buy Binance Coin in the UK, you should consider all aspects of your experience. This means ensuring you feel safe using the platform by looking for a licensed, or at least well-known, provider.

Always check the fees involved before buying BNB coins. Platforms like eToro and Binance list heaps of cryptocurrencies and also offer low fees, features, and tons of deposit methods.

When it comes to the storage of your purchase, if you don’t have a crypto wallet already, the best option is probably eToro. This broker is regulated, so takes security seriously. Furthermore, you will not pay commission to buy Binance Coin, and you may add funds to your account using credit/debit cards, bank transfers, or e-wallets like PayPal.

eToro – Best FCA Broker Buy Binance Coin UK

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.