Binance Coin (abbreviated BNB) is a well-known cryptocurrency that trades on the exchanges under the ticker symbol. The cryptocurrency Binance Coin was launched on June 27th, 2017.
As a result, even if Coinsquare does not support this token, it may be acquired on other trading platforms for any significant cryptocurrency such as Bitcoin, Ethereum, and XRP, or a fiat currency such as the Canadian or US dollar or the Euro.
To find out how to sell Binance Coin / BNB, scroll down to the “How to sell BNB section” at the bottom of this page.
Where Binance Coin Stands Out?
When it comes to commission structure, Binance truly stands out. Fees usually start modest and only become lower from there. Binance utilizes a volume-based pricing strategy and even offers further savings if you purchase and sell their coin.
However, if you’re accustomed to the uncomplicated world of typical brokerage prices, you’ll have to say goodbye to such fantasies here. You would also be amazed to know the 0.005 bnb to USD price.
In general, you’ll pay a 0.1 percent commission when you trade. However, the exchange’s volume-based pricing approach, based on your 30-day trading activity, may help you save money.
Binance offers 11 price tiers, denoted as VIP 0 through 10, based on your 30-day volume. Furthermore, Binance employs a maker-taker mechanism, which rewards those who contribute liquidity to the market (makers) and penalizes those who diminish liquidity (at more significant trading volumes) (takers).
A Step By Step Guide to Sell Binance Coin
The majority of users that sell BNB do so in exchange for Bitcoin (BTC) or Ethereum (ETH) (ETH). Unfortunately, you will not be able to sell BNB on Coinsquare directly; instead, you may sell it on an altcoin exchange for Bitcoin or Ethereum and then use Coinsquare to pay out in fiat money such as the Euro or the Canadian dollar.
Simple procedures must be taken, as shown below, to sell Binance Coin.
- Step 1: Fill up an application on an altcoin exchange and fund your account with Binance Coin, or use Binance Coin to purchase Bitcoin from a Bitcoin ATM.
The quickest and most convenient method to sell BNB for Bitcoin or Ethereum is to sign up for an altcoin exchange. This will allow you to cash out more quickly.
- Step 2: Binance Coin may be exchanged for Bitcoin or Ethereum.
Because Bitcoin and Ethereum are two of the most widely-accepted cryptocurrencies, you should have an easier time gaining access to them owing to the larger volume and liquidity of transactions.
- Step 3: After you have signed up and verified your account with Coinsquare, you should transfer your Bitcoin or Ethereum to Coinsquare.
Fund your Coinsquare account by selecting “Fund” from the top menu and then following the on-screen instructions for either Bitcoin or Ethereum, depending on which currency you like to use.
- Step 4: Quick Trade allows you to exchange your Bitcoin or Ethereum for fiat cash, such as the Euro or the Canadian dollar.
The Quick Trade button may be found on the left-hand side of your Coinsquare dashboard. We allow you to sell any cryptocurrency on our site in three simple steps.
- Step 5: Withdraw your Euro or Canadian dollar amount from Coinsquare and have it sent straight into your bank account.
Alternatively, you may withdraw your funds by selecting “Withdraw” from the top bar menu on your dashboard and following the on-screen instructions. Learn about Alligat0r crypto aggregator and how it helps aggregate currency with cryptocurrency.
The Coinsquare Referral Program also allows you to earn Bitcoin to bring new Coinsquare users to the site. In exchange for your services, you will be paid in Bitcoin straight to your Coinsquare account, which means that you may immediately sell the Bitcoin you earned for Euros or Canadian dollars, so locking in any profits, you have made in your portfolio.