Bitcoin How To Swap Btc To Bnb and Binance Coin (BNB) are two of the most popular cryptocurrencies in the world, and with good reason. Bitcoin is a decentralized digital currency that can be used to buy, sell, and store value, while BNB is a token created by the popular cryptocurrency exchange Binance. Given their popularity, many crypto enthusiasts find themselves wanting to swap BTC for BNB. In this article we will discuss why people might want to do this, the risks involved, and step-by-step instructions on how you can swap BTC to BNB easily and safely.
What is Binance Coin (BNB)?
Binance Coin (BNB) is a cryptocurrency created by Binance. It is the native token of the Binance Chain blockchain, which was created to facilitate the development of a decentralized exchange. BNB can be used to pay for transaction fees on the Binance Chain and is also used as a gas to power transactions on the chain. BNB has a total supply of 200 million tokens, with 100 million of those being released in an initial coin offering (ICO).
How to Swap BTC to BNB
Assuming you already have BTC in your wallet:
1. Open up your Binance account and click on “Funds” at the top right corner of the screen, then “Deposit Withdrawals”.
2. Find Bitcoin (BTC) in the list and click on the “Deposit” button next to it.
3. A pop-up will appear with your BTC Deposit Address. Copy this by clicking on the “Copy Address” button, then head back to your BTC wallet.
4. In your BTC wallet, send the amount of BTC you want to swap over to your Binance BTC Deposit Address. Make sure to double check that you are sending it to the correct address!
5. Once your BTC has arrived in your Binance account, go back to the main screen on Binance (the screen where you can see all the different cryptocurrency trading pairs).
6. Find Bitcoin (BTC) and Binance Coin (BNB) in the list and click on the pair to bring up the trading page for that pair (for example, if you want to trade BTC for BNB, click on “BTC/BNB”).
7. On the left side of the screen, under “Buy BNB”, select how much BTC you want to spend on buying BNB. The amount of BNB you will get in return is shown just
How to store your BNB
To store your BNB, you will need to create a wallet on the Binance Chain. This can be done by either downloading the official Binance Chain Wallet app or by using an online wallet service.
Once you have created your wallet, you will need to generate a mnemonic phrase. This phrase will be used to generate your private key and address. Keep this phrase safe and secure, as it will be required to access your wallet in the future.
Next, you will need to deposit BTC into your new wallet. To do this, you will need to send BTC from your current wallet to the address generated for your new wallet. Once the BTC has been received, it will be automatically converted into BNB at a rate of 1:1.
Your BNB is now stored safely in your new wallet! You can view your balance and transactions at any time by selecting the “View Wallet” option in the app or by logging into your online wallet service.
BNB Price Prediction
The BNB price prediction for 2021 is very bullish. Many factors point to this including the increasing use of the Binance smart chain, increased adoption of DeFi protocols, and a general increase in interest in cryptocurrency. While no one can predict the future with certainty, it seems likely that BNB will continue to grow in value throughout the year.
Conclusion
We hope this guide has given you a better understanding of how to swap BTC to BNB. It is an easy process that can help you diversify your cryptocurrency portfolio, and hopefully, as the value of BNB continues to rise, it will be a sound investment decision for anyone looking to make some extra money. Additionally, by taking advantage of various exchange services such as Changelly or Shapeshift that offer competitive rates, you can maximize your profits while minimizing risks.
