Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Estimated reading time: 2 min
Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
1. You could lose all the money you invest
The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
BNB (BNB) is a cryptoasset that currently ranks as the 4th largest by market cap (that's the total value of BNB in circulation – $93.6 billion).
Like all cryptoassets, it's highly volatile, and capable of major price swings in a single day. As of 23 April, BNB is trading for $608.93 (£493.36), an increase of 4.91% against $580.41 24 hours earlier. Over the past year, BNB's price has seen a barnstorming increase of 83.44%.
How to buy BNB in 4 steps
Compare crypto exchanges
The easiest way to buy BNB is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit funds using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy BNB
You can now exchange your funds for BNB. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking "Buy". If you like, you can now withdraw your BNB to your personal wallet.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade BNB by comparing deposit methods, supported fiat currencies and fees. Select "Go to site" to sign up directly with the exchange.
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These exchanges cover a wide range of cryptocurrencies, but we can’t guarantee they’ll all offer this coin.
Is it a good time to buy BNB?
Only you can make the decision about when is the best time to buy BNB. However, here are some things to consider as part of your research.
Take a look at the fundamentals of BNB. What type of coin is it? Utility, payment or governance token etc? How large is its market cap? How many coins are in circulation? All this will help you to understand how BNB works and how much risk is involved.
Also consider how has performed so far. Our charts below show you BNB's performance over time as well as its all time high.
This price chart helps you to see how BNB is performing against a fiat currency like USD. It shows the opening, high, low and closing prices for each period and is a visual representation of BNB range within that period.
BNB price chart
BNB at a glance
Information last updated 23 April 2024, 12:04 UTC.
Coin symbol
BNB
Coin Marketcap
$93,643,683,138
Total BNB supply
153,856,150
Circulating BNB
153,856,150
Current price
$608.930000
All time high
$686.31
All time high date
10 May 2021
Notable team members
Changpeng Zhao
Partnerships
S.S. Lazio, Chiliz, Brave, Trust Wallet
Industry
Decentralised finance
Token uses
Transaction fees, staking, payments
Network
Binance Smart Chain
BNB price performance over time
For a more in-depth view, this chart shows you how BNB has performed over time. You can see historical prices up to 1 year previously.
Historical prices compared with the price of $608.93 at 23 April 2024, 12:04 UTC.
1 hour
0.65%
24 hours
4.91%
7 days
10.28%
14 days
3.76%
30 days
10.17%
60 days
59.35%
200 days
188.84%
1 year
83.44%
What is the current price of BNB versus it's all time high?
Our chart to tracks how BNB has performed in the last 24 hours and compares it with its all time high. You can see where the current price sits in comparison to the last 24 hours, as well as what today's price is vs its peak.
BNB price last updated 23 April 2024, 12:04 UTC.
$578.87 (24h low)
$608.64 (24h high)
$0
$686.31 (10 May 2021)
Recent BNB developments
3 October, 2023: Binance's regulatory issues are ongoing: In September, Binance asked a US court to dismiss the SEC lawsuit, lost its banking partner in France, and the firm was pressured into selling its Russian business. 1 September, 2023: opBNB, a layer-2 network for Binance Chain goes live on the mainnet. June 19, 2023: BNB Chain launches opBNB, a layer-2 testnet based on Optimism, which is a layer-2 scaling solution for EVM-compatible blockchains.
Where could BNB's price be heading?
Binance Coin should see its price rise before the end of 2022 and be worth $274, according to Finder's panel of fintech specialists. And the panel expects BNB's price to continue to grow, closing out 2025 at $781 and surging to $1,814 by the end of 2030.
Our calculator works out how much BNB would be worth in USD and GBP, depending on how much you hold or are looking to purchase.
BNB price last updated 23 April 2024, 12:04 UTC.
Frequently asked questions
Binance Coin (BNB) is the token native for Binance and its blockchain-based ventures. The coin can be used to interact with the Binance cryptocurrency exchange as well as the ever-evolving DeFi ecosystem on the Binance Smart Chain network.
On the Binance exchange, BNB provides users with discounts on trading fees, serves as a trading pair for coins and is used on the Binance Decentralized Exchange (DEX). Fees paid in BNB are periodically “burnt”, which means they are permanently removed from circulation, which in turn decreases the supply and theoretically increases the value. Binance will continue to burn coins until the supply is reduced from 200 million to 100 million.
BNB is also used on the exchange to participate in launchpad events, which are similar to Initial Coin Offerings (ICO).
On the Binance Smart Chain (a smart contract platform developed by Binance based on Ethereum's codebase), BNB is used to pay gas fees and has a central role in many DeFi applications (dapps). In this way, it is very similar to the role of ETH on Ethereum.
For instance, users can deposit BNB to provide liquidity on the PancakeSwap DEX or be traded for BEP-20 tokens (The BSC version of ERC-20 tokens).
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
James Edwards is the global cryptocurrency editor at Finder. He coordinates a distributed team of journalists to help further Finder's mission of helping people make better financial decisions.
He has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in boiling down complex topics into language his parents can understand.
His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think and has coordinated a vast number of high-profile interviews with the industry's brightest minds.
He is a regular contributor to Nasdaq, The Street and is frequently called upon for market commentary in Australia and abroad.
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Learn how to buy Litecoin in the UK with our simple step-by-step guide and tips on what to know before you get started.
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