One of the well-known names in the crypto exchange platforms in the entire world, Binance, got established in 2017. Binance is not limited only to offering the Cryptocurrency exchange but also gives access to coins and tokens against various cryptocurrencies and fiat currencies to traders. In the initial days, the main motive of Binance was to get a top position among hundreds of the crypto exchanges in the industry and fulfilled this dream. Throughout the entire journey, Binance has touched new heights of success, and experienced a massive growth in its number of users. It has now become a leading ecosystem of trading products and Blockchain protocols. It also offers a couple of the most advanced tools for investors and traders. The Binance token or coin is the best example of this. Now the BNB is the most precious asset all across the globe. But its value is a bit lower than some of the other cryptos in the field.
About Binance Coin/BNB:
BNB is a Cryptocurrency, which people buy for trading and paying the amount on the Binance Exchange. With enabling over 1.5 million transactions each second, Binance became the most valuable exchange. It gives a discount to its users by charging a lesser fee for making a transaction. It is just an incentive for the investors. The traders or investors can exchange the BNB for other cryptos, including Litecoin, Ethereum, Bitcoin, Dogecoin, and many more. The BNB is likely to make the Binance exchange more operative with time. The Binance Coin also backs multiple services like listing fees, exchange fees, trading fees, etc., on its exchange platform. Many partnerships have assisted in its operational growth.
How to Buy Binance Coins/BNBs in India Using INR?
Many crypto exchange platforms are available for traders to buy Binance Coins or BNBs and other countless cryptos. These exchange platforms comprise Binance (Its own exchange), CoinDCX, WazirX, BuyUcoin, Giottus, and several well-known names in the crypto exchange industry. Using these platforms, you can purchase the BNB in India. I will uncover all the necessary steps you must follow to buy Binance Coins using INR through Binance exchange. Some of the steps are below:
Step 1: Open a Binance Account:
First of all, install the Binance App on your mobile, or you can directly visit the official website using any reliable browser. Now open a Binance Account by completing the KYC procedures for the registration, and you can start investing or trading.
Step 2: Purchase the USDTs:
First of all, open the Wallet option by hitting a click and then on the P2P option as the next step. Now hover the mouse on the USDT option available at the top right side of the page and choose a seller for purchasing the USDT by filling in the amount. Now purchasing the USDTs just needs a click on the Buy USDT option.
Step 3: Choose the Preferred Payment Mode for the USDT:
Garner the payment details of the seller after choosing the mode of the payment as per your preference. Now pay the amount for the USDT purchased by following the relevant payment mode. The amount correlating with the USDT amount gets transferred into your Binance Account immediately after the seller receives the money.
Step 4: Transfer the USDT from P2P Wallet to Spot Wallet:
The P2P Wallet carries the USDT you purchased. But if you want to buy Binance Coins, you must shift the USDT to the Spot Wallet. This process requires just a click on the Transfer option for sending the required USDT into the Spot Wallet.
Step 5: Start Investing and Trading:
Hover the mouse on the Market and click it. Now search the name of Binance Coin or BNB and hit a click on the Buy BNB option available on the page’s bottom. Fill in the USDT amount and press the Buy BNB button again. That is how you can trade or buy the BNB through Binance Exchange. All the transactions related to the deposits and withdrawals appear in the Order History.
Other Crypto Exchanges:
Apart from the Binance exchange, the traders can rely upon many exchange platforms to buy BNB in India. People are diverting to WazirX, Giottus, BuyUcoin, CoinDCX, and more to purchase the Binance Coins and other cryptocurrencies in India using Indian Rupees. You can have a look at these below-given exchanges for trading and buying BNB.
WazirX is also an exchange platform in the crypto market that offers the safest trading. It is one of the main reasons that people find it a trustworthy platform in India. Established in 2018, WazirX initially experienced a high spike in its users and the investing or trading activities in a few months. Follow some steps to purchase Binance Coins through WazirX. The users do not need to go through any complications for opening a WazirX Account. Sign up to WazirX Account and complete a small step of the KYC. Deposit the money into the WazirX Wallet through NEFT, IMPS, or UPI. After you deposit funds, you can easily buy the BNB using the Market Option. Select Binance Coins and hit a click on the Buy option. Now verify the order by just paying the amount. You can check your orders given under the History option.
CoinDCX is one of the most trusted crypto exchange platforms offering their services in India that claims to provide the most secure and the safest trading. Using this platform, the investors can purchase an extensive range of cryptocurrencies, such as Ethereum, Bitcoin, Binance Coin (BNB), Uniswap, Litecoin, and many well-known cryptos. You have to sign up on the CoinDCX platform using your email id and mobile number. Finalize the KYC process and fill in the bank details using which you want to make the transactions. After completing all the formalities, you can deposit the funds, as per your requirements, into the CoinDCX Wallet and go ahead with trading using as much amount as you want. Now search the Binance Coin or BNB and press the Buy button to buy, utilizing the amount available in your CoinDCX Wallet.
I have tried to cover all the essential information and details about Binance Coin. I am also providing step-by-step guidance on how to buy BNB in India. If you find it attractive to buy the BNB, then go ahead and open the account on any of the above-given platforms to start trading. You can also buy the Binance Coin using multiple payment options, including Debit/Credit Card, Bhim, Mobikwik, Bank Transfer, IMPS, NEFT, UPI, and a few others. The Binance Coin or BNB, gaining fame throughout the social media platforms, is one of the main reasons behind its growing value. I expect this article will help you throughout the entire process for trading Binance Coins in India using Indian Rupees.