What is BNB Coin?
BNB was invented in 2008 by the people at Binance alongside the newer crypto currencies such as ETH and LiteCoin. These days it holds some substance in the markets as it is used to power some of the other small coins that we intend to dabble in later. Why do we need this coin?
Put simply as this Crypto Currency runs the smaller currencies, we will generally need a bit of "gas money" to make our transactions. Like when you invest in stocks and shares, you need to pay a transaction fee to exchange those, this is essentially the same... Damn traders have ruined a beautiful technology!
How do we get this coin?
There are many ways we can get our hands on this coin, this is just a quick run down with more in depth ways explaining the how to's and pitfalls encountered:
Faucet sites
There are many sites on the internet that will offer to pay you shreds of tokens for performing different tasks on the internet. In fact, there are several sites now offering to do this, you will be exposed to adverts on mass and asked to fill in a number of robot protection forms but you can make a profit from these sites. A basic guide to one of these sites can be found here and documents the basic walk around a basic faucet site.
Mining
In today's society if you are lucky enough to have access to free electricity it might be worth investing in mining rig of your own to slowly build up your own stack of crypto currency to sell to market when you have enough.
In today's society if you are lucky enough to have access to free electricity it might be worth investing in mining rig of your own to slowly build up your own stack of crypto currency to sell to market when you have enough.
Quizes, Surveys and Application Testing
There are many services out there that are now starting to pay for data from focus groups in the form of crypto currency which can be a passive way of pulling in crypto currencies, some of them will change value in the future that will mean your survey that took 2 minutes might suddenly net you $2000.
Friends and Forums
Some of us may already know some friends or family who have been collecting coin, maybe they are your influence for getting involved. Don't be afraid to negotiate a trade if you need some of a specific coin to help you out. Friends are an invaluable source of knowledge and resource!
Trading
Much like the last point, if we don't have anyone local, we can take to the internet to find some like minded people who might help us out. Reddit is always a good place to start talking to others on a given subject and gaining different view points, just remember these people are strangers and not to trust them with your life savings!
Buying from Binance
Of course if all else fails or you want a shortcut and put money into your side project then you can always buy directly from the source with Binance. Depending on the climate and economy the price will differ and you will have to sign up with them to get an account to make trades. But can be useful to know in a pinch.
All done!
This is just a primer for playing in with some of these crypto currencies, if you are feeling braver maybe you would like to look at some of the more detailed guides for collecting coins.