How and Where to Buy BNbitcoin (BNBTC) – Detailed Guide

Jul 21, 2021 1:59 PM

What is BNBTC?
Step 1: Register on Fiat-to-Crypto Exchange
Step 2: Buy USDT with fiat money
Step 3: Transfer USDT to an Altcoin Exchange
Step 4: Deposit USDT to exchange
Step 5: Trade BNBTC
Last Step: Store BNBTC securely in hardware wallets
Other useful tools for trading BNBTC
Frequently Asked Questions
Latest News for BNBTC
BNBTC Price Prediction and Price Movement

What is BNBTC?

What Is BNbitcoin (BNBTC)?

BNbitcoin (BNBTC) is a smart contract implementation issued on the Binance Smart Chain (BSC) ecosystem. Born as a fork of an Ethereum-based project, it has been evolved and adapted for compliance with BSC's BEP20 standard, and modified in order to contend with the faster blocktimes of BSC blockchain. It is the purely mined Proof-of-Work (PoW) BEP20 token that is native to the BSC network, with no pre-mine, airdrop, nor Initial Coin Offering (ICO) being adopted for its initial distribution purposes. The PoW mining ensures a provably neutral, fair and transparent distribution.

What is BNbitcoin purpose and what are its distribution details?

BNbitcoin seeks to become the primary PoW-based store of value on the Binance Smart Chain plat-form, which conversely is categorized as a "Proof-of-Staked-Authority" (PoSA) blockchain. The process of BNBTC mining in principle is similar to the Bitcoin mining but with a difference: while Bitcoin’s network security and consensus mechanism are based on the SHA-256 algorithm, BNBTC takes advantage of the SoliditySHA3 hashing algorithm only for its distribution, being secured by the underlying network. The BNBTC miner’s work is issued to the smart contract, which, every epoch, adjusts the mining difficulty based on the amount of total hashpower interacting with it to match the target block-time. Additionally, BNBTC pays homage to Bitcoin's scarcity attribute, having the same neutral dis-tribution policy, with its maximum supply limited to 21'000'000 BNBTC, created in the next decades by no other means than the energy-intensive PoW mining process.

Will be BNbitcoin scarcer over the next years like it happens for Bitcoin?

Like Bitcoin, it has a target difficulty adjustment period of 2 weeks, target blocktime of 10 minutes, and even it implements the pre-programmed block reward eras-based halving policy designed by Satoshi Nakamoto, with perpetually integrated scarcity, security and long-term decentralization in mind. The first era begins with a block reward of 50 tokens for the first 10.5 million tokens mined, which is reduced by 50% to only 25 tokens in the following era after the first halving, and so on for 40 eras, which will be mined over the next years.

What is the main feature of the BNbitcoin project?

The bigger advantage of BNbitcoin is that it combines the deflationary policy, neutral distribution, scarcity and transparency of Bitcoin to the less expensive transactions and minting fees typical of the Binance Smart Chain. Being fully BEP20 compliant, it can be managed with several already available wallets, making BNBTC suitable also for small payments.

What hardware or software are needed to mine BNbitcoin?

Currently, BNbitcoin allows both solo and pool mining, with FPGA-based hardware being the refer-ence method and the main contributor of the total network hashrate. However, mining rigs built with both Nvidia and AMD GPU-cards can be used, combined with the mining software currently available for both Linux and Windows operative systems.

Where can BNbitcoin (BNBTC) be bought?

BNbitcoin is currently available on BSC decentralized exchanges like 1inch.exchange, pancakeswap.finance, apeswap.finance and dodoex.io.

BNBTC was first tradable on 25th Jun, 2021. It has a total supply of unknown. As of right now BNBTC has a market capitalization of USD $unknown. The current price of BNBTC is $0.150 and is ranked 3324 on Coinmarketcap and has recently surged 71.51 percent at the time of writing.

BNBTC has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying USDT from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy BNBTC.

Step 1: Register on Fiat-to-Crypto Exchange

You will have to first buy one of the major cryptocurrencies, in this case, USDT (USDT). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.

Suitable for US traders

Select Fiat-to-Crypto Exchange for details:

UpHold

Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:

Easy to buy and trade among multiple assets, more than 50 and still adding
Currently more than 7M users worldwide
You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
No hidden fees and any other account fees
There are limited buy/sell orders for more advanced users
You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.

Show Details Steps ▾

Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.

You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.

Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.

Step 2: Buy USDT with fiat money

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.

Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose USDT, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.

Step 3: Transfer USDT to an Altcoin Exchange

Select altcoin exchanges:

PancakeSwap
PancakeSwap

But we are not done yet. We need to convert our USDT into BNBTC. As BNBTC is currently listed on PancakeSwap we will guide you through how to convert your USDT on the platform. Unlike other centralised exchanges the conversion steps will be a little different on PancakeSwap since it is a decentralised exchange (DEX) which does not require you to register an account nor going through any KYC process, however, trading on a DEX requires you to manage your own private key to your altcoin wallet and it is suggested that you take extra care of your wallet private key, because if you lost your keys, it means that you will lost access to your coins forever and no customer support will help you retrieve your assets back. Although if managed properly it is in fact more secure to store your assets in your own private wallet than on exchange wallets. If you are still uncomfortable with using a DEX just yet, check if BNBTC is available on any other traditional centralised exchanges on the tab above. Otherwise let’s follow these steps carefully.

Convert your USDT into BNB on Binance

PancakeSwap is a DEX that is similar to Uniswap/Sushiswap, but instead it runs on Binance Smart Chain (BSC), where you will be able to trade all BEP-20 tokens (as oppose to ERC-20 tokens in the Ethereum blockchain), unlike Ethereum, it greatly reduces the trading(gas) fees while trading on the platform and is gaining popularity recently. PancakeSwap is built on an automated market maker (AMM) system which relies on user-funded liquidity pools and that is why it can work perfectly without a traditional order book from centralised exchanges.

In short, as BNBTC is a BEP-20 token running on Binance Smart Chain, the quickest way to buy it is to transfer your USDT to Binance (or the exchanges listed on the table below for US traders), convert it into BNB, then send it to your own wallet via Binance Smart Chain and swap your BNB for BNBTC on PancakeSwap.

US traders should consider signing up on the exchanges below.

Once you have registered on Binance or the exchanges suggested above, head over to the wallet page and choose the USDT and click deposit. Copy the USDT address and head back to UpHold, withdraw your USDT to this address and wait for it to arrive, this should take around 15-30 minutes depending on usage of the USDT network. Once arrived, trade your USDT to Binance Coin (BNB).

Transfer BNB to your own wallet

Here comes the trickiest part of the process, now you need to create your own wallet to hold both BNB and BNBTC, there are several options to create your own wallet, the best option is to use a hardware wallet, such as Ledger Nano S or Ledger Nano X. They are secure hardware that provide various layers of security to protect your assets, you only have to store the seed phrases in a safe place and never put it online (i.e. do NOT upload the seed phrases to any cloud services/storage/email, and also do not take photo of it). If you are planning to stay in the crypto scene for a while, it is highly recommended that you get a hardware wallet.

Alternatively you can create your own wallet, here we will use MetaMask as an example to show you how to set up your wallet.

Add MetaMask extension to Chrome

We recommend using Google Chrome or Brave Browser here. Go to Chrome Web Store and search for MetaMask, make sure the extension is offered by https://metamask.io for safety and then click Add to Chrome.

Proceed with "Get Started" and then click on "create a wallet" in the next screen, read all the instructions on the next screen and then click "Agree"

Next choose a secure password to secure your MetaMask wallet, this password is not your private key or seed phrases, you only need this password to access the Chrome Extension.

Here comes the backup phrase generation step, on the screen you will see a list of random words appearing after you click "reveal secret words", write these words down on a piece of paper and do not ever save them online, anywhere. For extra security you may even consider getting a Cryptosteel Capsule from Ledger to store your phrases securely and physically.

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Once you have saved your seed phrases securely, confirm on the next screen by verifying them. And you’re done! Read the tips once more to ensure you’re fully aware of the security issues and click all done, now your wallet is ready. Now click on the MetaMask icon on the extension bar on the browser and unlock your wallet with your password. You should see your initial balance afterwards.

Now you are ready to deposit your BNB to your wallet, head over to PancakeSwap, click "Connect" at the top and choose MetaMask.

If this is your first time to connect with MetaMask you should be asked immediately if you would like to add the Binance Smart Chain network to your MetaMask, please do proceed with this step as it is very important that you make sure you are sending your BNB via the right network. After adding the network, switch to the network on MetaMask and you should be able to see your BNB balance on the Binance Smart Chain. Now copy the address to clipboard by clicking on the account name.

Now head back to Binance or whichever exchange you bought BNB. Go to the BNB wallet and select Withdraw, on the recipient address, paste your own wallet address and make sure it is the correct address, then on transfer network, make sure you have selected Binance Smart Chain (BSC) or BEP20 (BSC)

Click submit and follow the verification steps afterwards. After successfully withdrawing your BNB it should arrive very shortly to your own wallet. Now you’re ready to buy BNBTC finally!

Head back to PancakeSwap, select Trade > Exchange on the left sidebar

You should see a relatively simpler interface here with basically just two fields, from and to, and a big button saying either "Connect Wallet" or “Swap”.

Click on Connect Wallet if you haven’t done so already. Otherwise you should be able to see your BNB balance here at the from field, enter the amount you would like to exchange for BNBTC and then on the to field, choose BNBTC from the dropdown, the corresponding amount of BNBTC should show up immediately. Verify and then proceed with "Swap". In the next screen, confirm the transaction once more by clicking Confirm Swap. Now MetaMask should pop up and ask you if you want to allow PancakeSwap to spend your BNB, click Confirm. Wait for the confirmation screen until it shows "Transaction Submitted", congratulations! You have finally bought BNBTC!! After a short while you should be able to see your BNBTC balance on your MetaMask Wallet.

Convert your USDT into BNB on Binance

US traders should consider signing up on the exchanges below.

Transfer BNB to your own wallet

Alternatively you can create your own wallet, here we will use MetaMask as an example to show you how to set up your wallet.

Add MetaMask extension to Chrome

Proceed with "Get Started" and then click on "create a wallet" in the next screen, read all the instructions on the next screen and then click "Agree"

Next choose a secure password to secure your MetaMask wallet, this password is not your private key or seed phrases, you only need this password to access the Chrome Extension.

Buy Now

Now you are ready to deposit your BNB to your wallet, head over to PancakeSwap, click "Connect" at the top and choose MetaMask.

Click submit and follow the verification steps afterwards. After successfully withdrawing your BNB it should arrive very shortly to your own wallet. Now you’re ready to buy BNBTC finally!

Head back to PancakeSwap, select Trade > Exchange on the left sidebar

You should see a relatively simpler interface here with basically just two fields, from and to, and a big button saying either "Connect Wallet" or “Swap”.

Last Step: Store BNBTC securely in hardware wallets

Ledger Nano S

Easy to set up and friendly interface
Can be used on desktops and laptops
Lightweight and Portable
Support most blockchains and wide range of (ERC-20/BEP-20) tokens
Multiple languages available
Built by a well-established company found in 2014 with great chip security
Affordable price

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Ledger Nano X

More powerful secure element chip (ST33) than Ledger Nano S
Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
Lightweight and Portable with built-in rechargeable battery
Larger screen
More storage space than Ledger Nano S
Support most blockchains and wide range of (ERC-20/BEP-20) tokens
Multiple languages available
Built by a well-established company found in 2014 with great chip security
Affordable price

Buy Now

If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your BNBTC for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.

Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.

Frequently Asked Questions

Can I buy BNBTC with cash?
Are there any quick ways to buy BNBTC in Europe?
Are there any alternative platforms to buy BNBTC or Bitcoin with credit cards?

Can I buy BNBTC with cash?

There is no direct way to buy BNBTC with cash. However, you can use marketplaces such as LocalBitcoins to first purchase USDT, and finish the rest of the steps by transferring your USDT to respective AltCoin exchanges.

LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.

Are there any quick ways to buy BNBTC in Europe?

Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.

Are there any alternative platforms to buy BNBTC or Bitcoin with credit cards?

Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.