BNB is the native cryptocurrency of BNB Chain, used to pay transaction fees, access token sales, and power a large ecosystem of decentralized apps.
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BNB is the native cryptocurrency of BNB Chain, first launched by Binance in 2017. It began life as an ERC-20 token on Ethereum and later migrated to its own chain. BNB is used to pay transaction (gas) fees on the BNB Smart Chain, to receive trading fee discounts, to take part in token launches, and to interact with thousands of decentralized applications across DeFi, gaming, and NFTs. Over time BNB has grown into one of the largest cryptocurrencies by market value. If you are wondering how to buy BNB in Canada, Netcoins is a publicly traded, fully regulated crypto trading platform with a transparent trading fee, free cash withdrawals, and live Canadian-based support.
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1. Create an Account
Visit the Netcoins website and click on the sign-up button. Or download the Netcoins app from the app store for mobile. Enter your email address, create a strong password, and agree to the terms and conditions. You will receive a confirmation email, click on the link to verify your email address.
2. Fund It
Choose your preferred funding method: bank wire transfer, interac e transfer, crypto deposit, or cash deposit. Follow the prompts to transfer funds into your Netcoins account. The process is quick and incurs no fees.
3. Start Trading
FAQs
Why is KYC (Verification) required?
<p>Netcoins Inc. is a licensed money service business under FINTRAC, and a registrant under the Provincial Securities Commissions, and adheres to the strict guidelines set by them for Money Transmitter Businesses and Securities Registrants. We are required to have a Know-Your-Client (KYC) process and compliance program in place. KYC is a process that allows us to verify the identity of our customers.</p>
What do I need to provide for your verification process?
<p>You will have to provide your email address, phone number and personal information including your first name, last name, address, date of birth and a piece of identification (like a driver's license). Most users are verified at this point through our automated process. If you do not pass the automated KYC process, you will have to go through an additional document verification stage. This is important and required as we are a regulated money service business.</p>
How can I fund my account?
<p>Your Netcoins account can be funded with a crypto deposit, Interac e-Transfer, or a bank wire transfer. Once you have funds in your Netcoins account, you will find that it is super easy to buy BNB in Canada.</p>
What is BNB used for?
<p>BNB is used to pay transaction fees on the BNB Smart Chain, to receive discounts on Binance trading fees, to join new token sales, and to interact with decentralized apps across DeFi, gaming, and NFTs.</p>