How to Buy Binance Coin (BNB) in Iceland

A Step-by-Step-Guide on how to buy Binance Coin (BNB) in Iceland

Step 1 – Signup to Kraken

You will first need to purchase one of the bigger currencies. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click below for registration and to get your first Bitcoin or Ethereum.

Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader

Your Bitcoin or Ethereum has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Binance Coin (BNB) is accessible on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Exchange? (Follow this how-to)

Make sure you've selected the exact coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).

Step 3 – Find Binance Coin (BNB)

Once your deposit has been verified, you will immediately have access to your finances and you can launch purchasing and trading. To buy (BNB) Binance Coin on Binance, you'll want to hover over the “Exchange” tab and after that click on “Basic”.

In order to discover (BNB) Binance Coin, you will need to put the short name of the asset (BNB) into the search-box, which is highlighted in the picture. Be certain of having choosen the proper grouping, we have highlighted this also. Click on “BNB/BTC” to progress.

Step 4 – Buying Binance Coin (BNB)

After you've spotted (BNB) Binance Coin, you will be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). Next we are going to make our own Limit Order.

The field with the “Price” tag will be filled automatically with the recent valuation Binance Coin (BNB) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the volumen of BNB you want to purchase. The “Total” field is the aggregated price in Bitcoin that you will settle for the whole quantity of BNB.

When you're satisfied, click on “Buy BNB”. Your order will be filled as soon as a Vender sells their BNB for the price you introduced.

Step 5 – Withdraw (BNB) Binance Coin

Unless you're regularly trading, you should never keepyour crypto on an Crypto Trader for an extended period of time. In order to take off your (BNB) Binance Coin, go to the tab called “Funds” and click on “Withdraw”. Binance Coin (BNB) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (BNB) Binance Coin by using the provided drop-down box. Put into the amount of Binance Coin (BNB) you would wish to withdraw. Take into account the displayed minimus/fees. Also make sure you have filled your right withdraw address.

When you're happy, click “Submit”. You could be requested for phone/email verification before a take off.

Congratulations! You've successfully purchased and stored Binance Coin (BNB) in Iceland.

That's it!

Take offs from Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you've confirmed your take off with Etherscan.io or Ethplorer.io and the Binance Coin (BNB) is safe within your wallet, you're all done.