Binance Coin is one of the largest cryptocurrencies. Trading BNB has increased over the years alongside wider crypto growth trends. This thise will outline the basics of the Binance Coin, what it is, and how it works. We’ve also vetted and listed the best exchanges and trading platforms with BNB.
Note: BNB was originally launched as Binance Coin. It’s now primarily branded as BNB, which Binance describes as standing for “Build and Build” (sometimes written “Build’n’Build”).
Top-Rated Binance Coin Brokers and Exchanges
After logging into their platforms to confirm they offer BNB, and evaluating the trading conditions, these brokers came out on top:
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- Crypto Spread: 12 average (Bitcoin)
- Min. deposit: $0
- Regulator: FMA, FSA
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- Crypto Spread: Variable
- Platforms: MT4, MT5
- Min. deposit: $0
84.6% of retail CFD accounts lose money. -
- Crypto Spread: 1.19 (BTC/USD) - during tests
- Platforms: MT5
- Min. deposit: $100
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- Crypto Spread: From 0 pip
- Platforms: MT4, MT5
- Min. deposit: $10
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- Crypto Spread: From 0.1
- Platforms: Web, MT4, MT5, cTrader
- Min. deposit: $10
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- Platforms: Desktop Platform, Mobile App
- Min. deposit: $0
- Regulator: SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- BlackBull 4.5/5 BlackBull excels for active traders interested in trading crypto. It has grown its selection of cryptocurrencies, now providing 27+ digital tokens, including Bitcoin, Ethereum, and Trump, with all cryptos paired with USD. But pricing is where it excels, with testing revealing average spreads of around 12 on BTC/USD - less than half that of competitors like Eightcap, plus there’s no commission, making it considerably cheaper than most crypto CFD brokers. BlackBull also offers separate well-presented crypto guides for beginner, intermediate and advanced traders. Up to 1:100 leverage is available on cryptos.
- FXCC 4.6/5 FXCC has ramped up its range of cryptocurrencies for trading, going from under 10 to more than 30. There are no restrictions on crypto day trading strategies with Expert Advisors (EAs) permitted. Digital currencies can be traded 24/7 with no commission and leverage up to 1:20.
- Bullwaves 3.9/5 Bullwaves offers range of 130+ crypto markets,including 10 crypto majors like BTC, 47 crypto minors, and 16 crypto-crypto pairs that we counted in the platform during testing. The web and desktop platforms also offer extensive charting features that will appeal to active crypto traders deploying short-term strategies.
- Ingot Brokers 4.3/5 You can access 25 cryptocurrencies paired with USD, including BTC/USD and ETH/USD as well as smaller tokens like DOTUSD. The broker doesn’t offer a crypto wallet or exchange, although you can deposit via Bitcoin, Ethereum or Tether with zero fees.
- LiteFinance 4.0/5 LiteFinance offers a growing selection of 70+ cryptocurrencies, mostly paired with USD. The list includes some lesser-known tokens with lower market capitalization. However, traders will not directly buy and own the crypto tokens they trade.
- Moomoo 3.2/5 Moomoo added spot crypto trading capabilities with 50+ tokens, including major names like Bitcoin, Ethereum, and Dogecoin. It was also the first US broker to provide SEC-registered blockchain-native shares like Figure Technology Solutions’ FGRD and crypto IPO allocations such as BitGo.
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| BlackBull | 3520 | ||||
| FXCC | 225 | ||||
| Bullwaves | 668 | ||||
| Ingot Brokers | 57 | ||||
| LiteFinance | 686 | ||||
| Moomoo | 736 |
BlackBull
After improving its trading infrastructure with Equinix servers in London, reducing latency for traders, BlackBull is an obvious choice if you want to day trade stock CFDs with ECN pricing. With competitive spreads and no commission on a growing roster of digital tokens paired with USD, BlackBull also works for active crypto traders.
Christian Harris, Reviewer
BlackBull quick facts
- Coins
- BTC, ETH, SOL, XLM, XRP, BCH, ADA, SUI, TRUMP, LNK, DOT, DOGE, AAVE, AXS, HED, LTC, TRX, UNI, PYTH, ARB, BNB, AVAX, NEAR, ILV, ATM, INJ, POLY
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- 12 average (Bitcoin)
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist
- Minimum Deposit
- $0
- Regulator
- FMA, FSA
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD
Pros
- BlackBull offers every ingredient for day traders; fast execution speeds of <100ms and tight spreads from 0.0 pips.
- BlackBull is a much greater fit for aspiring traders following the overhaul of its ECN Prime account, now featuring improved spreads averaging 0.16 on EUR/USD and a more accessible minimum deposit of $0 compared to the old $2,000.
- BlackBulls’s research is superb, especially the daily ‘Trading Opportunities’ articles that break down complex market movements into easy-to-understand insights, making it simpler to capitalize on emerging trends.
Cons
- Unlike most top brokers, BlackBull charges an irritating $5 withdrawal fee, which can detract from the overall cost-effectiveness, especially for active traders who frequently move funds.
- Although the Education Hub now features improvements like webinars and tutorials, the courses we’ve explored need more focus on explaining the wider economic factors influencing prices.
- Despite a growing selection of 2,180+ assets, including additions to its Asia Pacific indices, they are mainly stocks with an average selection of currency pairs and indices.
FXCC
FXCC continues to prove itself an excellent option for day traders with a particularly strong selection of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and a free VPS for qualifying traders.
Jemma Grist, Reviewer
FXCC quick facts
- Coins
- BTC, BCH, ETH, LTC, XMR, DASH, XRP, ALG, ATO, AVE, AVX, AXS, BNB, BSV, CKE, DOT, ENJ, FTM, LNK, MEL, MNA, MTC, SHB, SND, SNX, SOL, TRP, UNI, WAV, XTZ, YFI
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- Variable
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- MT4, MT5
- Minimum Deposit
- $0
- Regulator
- CySEC, MISA
- Account Currencies
- USD, EUR, GBP, CAD
Pros
- Customer support still relies on human agents with response times of under three minutes on live chat during our tests and knowledgeable reps - a welcome break from the frustrating AI chatbots increasingly offered by brokers.
- The free VPS for qualifying traders and the ability to build or buy EAs on MetaTrader make FXCC a strong option for algo traders.
- FXCC’s ECN XL account has been built with active traders in mind, featuring spreads from 0.0 with no commission, while also passing our execution speed benchmark for day traders.
Cons
- FXCC charges steep withdrawal fees on many of its payment methods, including $45 for bank transfers and 2% crypto transfers, which may cut into the returns of traders making regular withdrawals.
- Although FXCC has bolstered its range of markets with US, European and Asian stocks, the choice of metals and energies is light, and there are no soft commodities.
- Although regulated by the CySEC, FXCC’s offshore entity operates with weak regulatory oversight from MISA and may not provide safeguards like investor compensation in the event of broker insolvency.
Bullwaves
Bullwaves may appeal to aspiring day traders looking for the MetaTrader charting platforms with a growing suite of research tools, including AI-powered market analysis. However, the limited track record and weak regulatory credentials raise questions about its reliability.
Christian Harris, Reviewer
Bullwaves quick facts
- Coins
- BTC, ADA, ALG, ATM, AVA, AXS, BAT, BCH, CAK, CRV, DOG, DOT, DSH, ETC, ETH, FIL, INC, IOT, LNK, LTC, NEO, NER, ONE, SAN, SHB, SOL, SUS, TON, TRX, UNI, VEC, XLM, XMR, XRP, XTZ, ZEC, BNB, AAV, ALI, ANK and many more
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- 1.19 (BTC/USD) - during tests
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- MT5
- Minimum Deposit
- $100
- Regulator
- FSA
- Account Currencies
- USD, EUR, GBP
Pros
- Bullwaves has upgraded its market offering with global equities, soft commodities, cryptos, and ETFs, as well as tripling the selection of FX assets.
- Registering on the Bullwaves website and setting up an account is super smooth, only taking a few minutes based on tests.
- MT5 is supported (MT4 has been discontinued), giving day traders a leading charting platform with excellent backtesting capabilities.
Cons
- Customer support performed poorly during our initial tests with no 24/7 chat support as advertised, and no response to our email queries, though it performed much better in our latest round of tests with most queries getting answers same-day.
- Bullwaves has limited education tools, reducing its appeal for beginners, especially compared to category leaders like IG that provide structured courses and interactive elements.
- Bullwaves operates without strong regulation in major jurisdictions, holding a license with one lower tier regulator, the Seychelles FSA, meaning it lacks oversight from reputable authorities to ensure compliance with strict financial standards.
Ingot Brokers
Ingot Brokers is a good choice for day traders looking for a no-frills broker with a wide range of instruments. Experienced traders will appreciate access to the advanced MT5 platform, although beginners may be disappointed in the lack of educational resources.
William Berg, Reviewer
Ingot Brokers quick facts
- Coins
- BTC, ETH, LTC, BCH, XRP, DOT, EOS, LNK, DOGE, ADA, XLM, ATOM, AAVE, AVX, BNB, DASH, ENJ, FTM, MATIC, SNX, WAVE, XMR, XTZ, YFI, SOL
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- From 0 pip
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- MT4, MT5
- Minimum Deposit
- $10
- Regulator
- ASIC, CySEC, JSC, FSA, CMA-Kenya
- Account Currencies
- USD, EUR, GBP, AUD
Pros
- Multiple free payment methods are available, including bank transfers and crypto payments
- Ingot Brokers offers a copy trading service with passive income opportunities for experienced strategy providers
- Ingot Brokers holds multiple regulatory licenses, including two from the top-tier regulators, ASIC and CySEC
Cons
- The range of 30+ currency pairs is below the industry average and won’t be sufficient for serious forex traders
- Despite improvements in the Resources Hub, the broker’s education and market research still trail many competitors
- The ECN account offers fewer assets than the other account types
LiteFinance
LiteFinance will suit traders seeking a long-standing broker to trade forex, stocks, commodities, indices, cryptocurrencies, and newer assets like equity perpetuals. The social trading system will also suit investors looking to learn from seasoned traders, though careful risk controls are required when copy trading.
Tobias Robinson, Reviewer
LiteFinance quick facts
- Coins
- AAV, ADA, ALG, ALI, ATO, AVX, AXS, BCH, BNB, BTC, BTG, COM, DGE, DOT, DSH, ENJ, EOS, ETH, FIL, ICP, ILV, ITA, KAV, LNK, LTC, LUN, MKR, MNA, MTC, NEA, NEO, OMG, QTM, SIA, SND, SOL, STX, THT, TRX, UNI and many more
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- From 0.1
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- Web, MT4, MT5, cTrader
- Minimum Deposit
- $10
- Regulator
- FSC
- Account Currencies
- USD, EUR
Pros
- Social trading service
- Good range of forex pairs
- Fast and reliable customer support based on testing
Cons
- Some complaints online about difficulties withdrawing funds
- Wide spreads on the Classic account
- Not overseen by any top-tier regulator
Moomoo
Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees.
Jemma Grist, Reviewer
Moomoo quick facts
- Coins
- BTC, ETH, SOL, XRP, DOGE, LTC, UNI, SHIB, AAVE, AVAX, BCH, BONK, ADA, DOT, LINK, COMP, OP, MATIC, ARB, CRV, WIF, ETC, PEPE, XLM, XTZ, TRUMP, HBAR, SUI, NEAR, RENDER, TIA, FET, ALGO, ATOM, SEI, FIL, INJ, LDO, GRT, ONDO and many more
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- 0.49% per spot Bitcoin trade (US), 0.3% to 0.39% (Singapore)
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- Desktop Platform, Mobile App
- Minimum Deposit
- $0
- Regulator
- SEC, FINRA, MAS, SFC, ASIC, CIRO, JFSA, SC
- Account Currencies
- USD, CAD, AUD, JPY, MYR, HKD, SGD, CNY
Pros
- The broker offers access to extended pre-market trading hours
- Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
- The Moomoo AI assistant, found in the desktop software and app, provides genuinely useful market insights to inform active traders
Cons
- Moomoo has faced multiple regulatory penalties in recent years, including fines and orders in 2026 that stopped it temporarily accepting some Japanese and Chinese clients
- The account range is narrow compared to other brokerages in its class with no managed portfolios or robo-advisor solutions
- There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
What Is Binance Coin?
The Binance Coin is a crypto token available for trading via Binance and other exchanges. It is represented by the symbol/ticker BNB. The crypto exchange is one of the largest in the world, with millions of transactions per second and billions in USD daily trading volumes.
The main uses of BNB include:
- Transaction fees payable on the Binance Chain and Smart Chain
- Participation in ICO’s hosted on the Binance Launchpad programme
- Purchasing goods and services online using the Binance Card or Binance Pay
- Payment for trading fees on the Binance exchange and Binance DEX (decentralized exchange)
Binance Coin terminology varies by the blockchain network. Name listings include:
- BNB BEP-2 – Binance Chain
- BNB BEP-20 – Binance Smart Chain
- BNB ERC-20 – Ethereum Network
Review the official white paper report to learn more about the Binance Chain.
History Of Binance Coin
The Binance crypto exchange was launched in 2017 in China by founder Changpeng Zhao. The coin was developed in July of that year, originally created for the Ethereum blockchain, before becoming the origin of Binance’s blockchain. A BNB ICO was held later that year, with each token sold at a starting price of 15 cents, raising $15 million.
The Binance Coin was introduced on its launch date as a utility token, halving trading fees on the platform and ensuring price liquidity for customers. Unlike competitors such as Bitcoin, Binance did not offer fiat to crypto coin markets e.g. USD or GBP to Bitcoin.
The interest and price history of the coin has supported the growth of the exchange, subsequently enabling new listings including PAX Gold in 2020. The coin today is used as a vote token, allowing users to select new coins to be listed on the Binance platform.
The total supply limit of BNB is capped at a maximum of 200 million tokens, with plans for quarterly burn cycles to stabilise future prices by reducing the quantity available in the market. This is different vs Ethereum which has no hard cap. This also means there are no coins available for mining.
Binance Coin Trading Chart
Why Trade Binance Coin?
The interest in trading Binance Coin continues to rise, with usage benefits aiding its popularity.
Fee Discount & Rewards
Binance Coin investors can benefit from reduced trading fees (up to 50% discount) if exchange fees are paid in BNB. A rewards programme is also available for users with a certain value of BNB held in a wallet. Other initiatives include exclusive access to the ‘launchpad lottery’ to invest in new crypto projects or ICOs reviewed by Binance experts. Expectations for other financial rewards when trading BNB are expected in the future.
Repurchase Plan
The platform follows a circulation plan, helping to maintain a sustainable value. The maximum supply cap will help ensure the future of the coin.
Trust
The Binance platform provides an easy-to-use network and high withdrawal limits with minimal security issues to report. This helps make BNB one of the more trusted crypto coins, though that bar is low.
Use the Binance Coin Chain Explorer to view wallet balances and browse transaction information on the blockchain. It is supported through affiliation with the NEO coin and follows the ERC 20 principles.
Accessibility
Trading Binance Coin is available 24 hours a day, 365 days a year. You can utilise pricing alerts or trading robots for automated investing support and monitor market conditions using economic calendars. Customer service reviews are positive, solving issues such as what to do if your Binance Coin has disappeared from a wallet.
Low Cost
BNB can be freely traded on the Binance platform making it a more affordable coin vs the likes of Bitcoin, Litecoin, and Cardano. Maximum fees are just 0.1% per trade if BNB is not used.
Yield Farming
Yield farming is a method of earning rewards as passive income with cryptocurrency holdings using liquid protocols. Earn up to 10% APY when yield farming BNB.
The Future Of The Binance Coin
Technical analysis of the Binance Coin suggests the crypto could have long-term investment potential. Some believe there will be a significant rise in the long-term value of the cryptocurrency.
5-year prediction chart data from digitalcoinprice.com suggests the average price may increase +244% by 2025 with an all-time high value reaching $1,000 before 2030.
Risks Of Trading Binance Coin
BNB pricing history and chart analysis may inform investment decisions, however, cryptos are extremely volatile and nobody can accurately predict what may happen in the future. Digital assets are subject to higher levels of price volatility due to minimal regulation and smaller market sizes.
Some recommend not holding coins on any exchange platform after purchasing. Exchanges are more susceptible to hacking so move coins when you can. You could make use of hard wallets to store, send and receive BNB. Recognised systems include Trezor and Ledger Nano X.
Another key disadvantage of investing in the Binance Coin is its centralised structure, known as closed-source. This acts as a hurdle for the coin’s future outlook, affecting its availability to be listed on other exchanges, or entering new markets.
Also, the low withdrawal and transfer fees, plus discounted trading rewards may eventually lose competitiveness as key alternatives start following suit.
Binance Trading Strategies
Day Trading
Arguably the most active strategy for crypto investments, day trading crypto involves exploiting intraday price movements by entering and exiting trades within a 24-hour window. Use technical analysis to predict future market behaviour based on previous price action. This can help identify key trends and trading opportunities.
Position Trading
Position trading involves directional trend analysis, typically holding a trade for up to a few months. BNB investors can enter long positions in an upward trend or short positions in a downward trend.
Fundamental analysis may be used in this instance. This involves exploring microeconomic and macroeconomic settings that may impact the market. With that said, always consider the trend jump possibility, especially in the volatile crypto environment.
Range Trading
This strategy involves using support and resistance levels and candlestick chart analysis to review potential entry and exit points. Positions can be entered manually, buying at support and selling at resistance. Binance Coin traders can also make use of RSI indicators, among a suite of other tools on popular charting software, such as MT4.
How To Trade Binance Coin
How & Where To Buy
BNB is available on the Binance exchange and some other firms.
Crypto Coin Transfer
If you already own other cryptocurrencies such as Ripple (XRP) or Litecoin (LTC), you can swap and exchange coins for an equivalent value of BNB. Simply create an account on Binance or a supporting exchange.
To exchange other coins for BNB on Binance:
- Type the international coin symbol into the search box and copy the address provided
- Send the coins to the address copied from your Binance account
- After exchange confirmations are completed, funds will appear in your balance
- Then access the ‘exchange’ tab in the Binance trading platform and simply select the crypto coin to trade it for BNB
Purchase Binance Coins
You can purchase BNB directly through Binance with accepted debit/credit cards (fees apply). Other methods include purchasing BNB with fiat currencies such as the Euro or US Dollar on exchanges. Note, platform access depends on residency.
Note, traders can use data sources or an exchange rate calculator accessible on CoinGecko to see daily cost rates for 1 Binance Coin, or fees for conversion to other fiat currencies such as INR, PKR, or NGN.
What To Do After Purchasing BNB
- Donate – BNB donations can be used for Binance charity projects
- Spend – Pay for trading fees or purchase goods and services online
- Store – Hold onto Binance Coin in a wallet for a potential increase in value
- Trade – Exchange BNB for 150+ cryptocurrencies on the Binance platform
- Send – Send BNB to anyone, anywhere with a one second block confirmation time
Bottom Line
Binance Coin is an accessible digital asset with optimistic future price predictions. The established circulation plan may sustain the future of the coin, though there is no guarantee.
FAQ
Is The Binance Coin A Stablecoin?
Binance Coin is not a stablecoin. Binance does offer two fiat-backed stablecoins; BUSD pegged to the US Dollar (USD) and BGBP pegged to the Great British Pound (GBP). The first fiat-backed cryptocurrency, Tether (USDT), was created in 2014.
Is Binance A Coin Wallet?
Binance offers a free-to-use multi-asset crypto coin ewallet called the Trust Wallet. The app is available to download to iOS and Android devices. The service supports staking, a live coin price chart, and historical data graph access. Third-party coin wallet MetaMask can also be used to store, send and receive Binance Coin and other ERC20 coins.