Are you looking to invest in Binance Coin (BNB)? so, you may have heard about MetaMask, a popular cryptocurrency wallet that allows you to easily buy, store and manage your digital assets. But, as beginner to MetaMask, you may be wondering how to buy BNB on this platform. lets break it down.
Buy BNB on MetaMask
Step 1: Set up MetaMask
To get started, you will need to set up a MetaMask wallet. This step-by-step guide will make the process as simple and straightforward as possible.
Step 2: Add BNB Chain
Now, using this easy guide, you'll have to add Binance Smart Chain (BSC) to your MetaMask.
Step 3: Click Buy
Now, click Buy. This will show you prompt to choose either Transak or MoonPay as service provider.
Step 4: Choose Service Provider
Transak is a cryptocurrency payment gateway that enables you to buy and sell digital assets with your local currency. It allows you to access digital assets through a simple and seamless fiat-to-crypto on-ramp, which means that you can purchase cryptocurrencies directly from your bank account or credit/debit card. Click Continue to Transak.
Step 5: Select Amount of BNB
Now, pick the fiat currency of your choice with which you would like to pay and enter an amount. This will provide a preview of how many BNB coins you can get in return from Transak. Additionally, select the desired payment method. Next, click Buy Now.
Step 6: Confirm BNB Order Details
Transak will display the MetaMask BSC address for you to review and verify, together with other order details. Do keep in mind that there is a fee incurred when using Transak from MetaMask.
It is important to review both the Transak fee and exchange fee beforehand. Once you have reviewed these fees carefully, then click Buy BNB for a completely secure transaction.
Step 7: Confirm Email Address
Enter your email address.
Step 8: Enter Personal Details
Transak will need you to verify your identity by entering in some personal information such as your First Name, Last Name, Mobile Number and Date of Birth. When complete, click the Continue button!
Step 9: Enter Address
Please provide your full address information here.
Step 9: Give ID Proof and Submit KYC
Choose the type of identification document you wish to submit and country. Whatever device you are utilizing, whether it be a desktop or smartphone, you will receive an invitation to upload the identity documents. After submitting your KYC details, they should promptly verify them within 5-10 minutes.
Step 10: Get BNB in MetaMask
Let's return to the MetaMask process with Transak. After they give you specific bank details, you must pay Transak the exact amount within the designated time shown onscreen. Once completed, check off the box below and click I have Paid for confirmation. After a brief waiting period, you will be able to access your BNB stored in the MetaMask wallet. The processing time varies depending on banking regulations and procedures.
What are the benefits of buying BNB on MetaMask versus other platforms?
MetaMask is a convenient, popular wallet that offers an effortless connection to various cryptocurrency brokers. With this amazing tool, you can buy and sell BNB and other cryptocurrencies straight from their wallets without needing to transfer funds onto another platform.
With MetaMask, you have complete authority over your private keys and funds due to its non-custodial wallet. This additional security layer diminishes the probability of hacks or thefts that are often associated with centralized exchanges.
MetaMask charge fees more than centralized exchanges, making it a prime choice for small-time investors who are looking to invest in BNB for the long haul.
For any investor hoping to get into the realm of cryptocurrency investing, MetaMask is a best option. Its user-friendly layout, non-custodial wallet feature and seamless integration with renowned decentralized applications make it an right choice for those wanting to safely buy and store cryptocurrencies. MetaMask stands out as a leading choice for small investors looking to invest in BNB. With Transak or MoonPay integrated into the interface, it's easier than ever before to purchase BNB on MetaMask.
Frequently Asked Questions
1. Is there a minimum or maximum amount of BNB you can buy on MetaMask?
Yes, there is a minimum and maximum amount of BNB you can purchase on MetaMask, which depends on the service provider you choose. Check Transak Terms of Service for US and other countries.
2. Are there any fees associated with buying BNB on MetaMask?
When purchasing BNB with MetaMask, you may face transaction charges depending on the provider, quantity of coins required and payment option selected. These fees can vary widely.
3. Are there any limits on how frequently you can buy and sell BNB on MetaMask?
There are no limits on how frequently you can buy and sell BNB on MetaMask. However, it is important to keep in mind that there may be limits imposed by the service provider you choose to use.