BNB, or Binance Coin, is a cryptocurrency that was created by the Binance exchange in 2017. It is used as a utility token on the Binance exchange, which means that it can be used to pay for trading fees, transaction fees, and other services on the exchange.
BNB gas fees, also known as transaction fees, are the fees you have to pay when you make a transaction on the Binance Smart Chain using BNB. These fees are paid to the network to process your transaction and are typically measured in a small amount of BNB.
It is important to note that many reputable cryptocurrency exchanges require Know Your Customer (KYC) verification before allowing users to buy and trade cryptocurrencies, including BNB. This is because KYC helps to prevent fraudulent activities and ensures compliance with regulations.
However, there are some options available for buying BNB without KYC, such as peer-to-peer (P2P) trading platforms or decentralized exchanges (DEXs). These platforms do not require KYC verification and allow users to buy and sell cryptocurrencies directly with each other.
One example of a P2P platform is LocalCryptos, which allows users to buy and sell BNB using various payment methods such as bank transfers, PayPal, or cash. Another option is a DEX such as PancakeSwap, which is built on the Binance Smart Chain and allows users to swap cryptocurrencies without the need for a centralized exchange.
It’s important to note that using P2P platforms or DEXs can come with risks, such as scams or fraud, so it’s important to be cautious and do your own research before using any platform to buy BNB without KYC verification.
You can buy BNB (BEP20) with Moonpay by following these steps:
- Go to the Binance website or mobile app and create an account if you don’t already have one.
- Go to the “Wallet” tab on the Binance website or app and select “Deposit”.
- Select “BNB” as the cryptocurrency you want to deposit and copy the deposit address provided.
- Go to the Moonpay website.
- Select “Binance Coin (BEP-20)” as the cryptocurrency you want to buy and enter the amount you want to purchase.
- Enter the BNB deposit address you copied from Binance as the destination wallet address.
- Enter your personal details and follow the instructions to complete the KYC verification process.
- Choose your preferred payment method and complete the transaction.
Once the transaction is complete, the BNB (BEP20) will be deposited into your Binance wallet. Please note that Moonpay may charge a fee for the transaction, and the price of BNB may vary based on market conditions. It’s important to do your own research and consider the risks before investing in any cryptocurrency.
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