Binance was coined out of the words “Binary” and “Finance.” In 2017, ChangPeng Zhao established a Chinese company called Beijie Technology which is the holding company that runs a Binance exchange. Its headquarters is currently located in Hong Kong. ChangPeng Zhao, collaborating with the Binance team has worked to enhance the growth of Binance coin into one of the most prominent exchanges across the globe.
Binance is a cryptocurrency exchange that makes provision of a platform for trading different cryptocurrencies. Now, Binance was declared as the largest cryptocurrency exchange in the world when it comes to trading volume as of January 2018. Binance was established by Changpeng Zhao, a developer who had created high-frequency trading software before. Binance was originally based in China but later relocated out of because of the increase in China’s regulation of cryptocurrency.
Basic Information on Binance
The Binance (BNB) coin is the Binance exchange platform cryptocurrency. The coin has gained a lot of interest recently as Binance is currently the largest cryptocurrency exchange in the world.
Binance: Binance logo.svg
Founders: Changpeng Zhao, Yi He
Key people: Changpeng Zhao (CEO)
Products: Cryptocurrency exchange
How to Buy Binance (BNB) Coin
There are two scenarios that we should consider if you want to buy Binance (BNB) Tokens.
Create an Account on Binance
To create an account, first of all, you need to go to the registration page here. You will need an email address (to an email client that you can access and also a strong password.
After that, you have to fill in the registration form and you will be requested to solve an easy puzzle (to confirm that you are human) and after you have passed the simple step, you are good to go. An email confirmation will be forwarded to you. Click on the email forwarded to you, and then you can proceed to the next stage.
Kindly note that it is necessary to read the verification email carefully because that is what provides you with the basic security tips you need. The next step you need to take is to log in and get to work on the account.
Enable the 2 Factor Authentication (2FA)
The 2FA is a method carried out to make sure that you have complete access to the account anytime. It aids in protecting your account from hackers or online scammers. Binance keeps and secures funds for you and other numerous users.
It is very easy to enable 2FA because all you need to do is to install an app on your mobile phone, this app when installed on your device will generate a code for you whenever you log into the account. Alternatively, if you are not interested in installing an app or you are not able to, you can always receive the code through SMS whenever you log in.
Verify your account
Next, you have to verify your account by sending a timestamped picture of yourself with an identification document so as to withdraw coins easily later.
- Depositing Your Coins to Binance
- Finally, after you have deposited the coins, change the Coins into BNB