Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Balancer. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Balancer

Australia has a good amount of trusted and regulated crypto exchanges, so it’s quite easy finding an exchange that has Balancer. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.

Let’s get into it!

How to Buy Balancer in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Balancer

1. Choose a crypto exchange

As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Balancer in its list of cryptocurrencies.

Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.

And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.

So for this guide on buying Balancer, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Balancer.

Or, if you’d like to know more about the exchanges we like, check our list of the best crypto platforms in Australia.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.

Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.

Once done, it’s time for the next step.

3. Funding your account with AUD

To buy Balancer, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.

Swyftx Deposit Methods

4. Buy Balancer

The final step is to go to their asset list, find Balancer, navigate to the buy section, and then trade your AUD for some BAL. Once you’ve bought Balancer, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.

Where to Buy Balancer (BAL)

ExchangeRatingCryptocurrenciesSite
Swyftx logo5/5300+ cryptocurrenciesVisit Swyftx
CoinSpot logo4/5200+ cryptocurrenciesVisit Coinspot
binance logo3/5400+ cryptocurrenciesVisit Binance

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

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How to Sell Balancer

If you’re thinking about selling Balancer, just follow the steps below.

  1. Sign in to the crypto exchange (like Swyftx).
  2. Click on Balancer in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Balancer for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Balancer in Australia legal?

Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.

How to buy Balancer with PayPal?

Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Balancer. Have a look on their site first, you might be lucky.

How to buy Balancer with a credit card or debit card?

Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Balancer with your credit/debit card.

About Balancer

Balancer, an automated market maker and (AMM), was introduced in March 2020. It uses Ethereum blockchain. Accomplice was the seed investor and Placeholder provided $3M. The Balancer protocol, a self-balancing weighted portfolio, can be used as a liquidity provider, price sensor, and price sensor. The new token ($BAL) allows users to make profits and contribute to customizable liquidity pool.

Because anyone can create token pool, Balancer is similar to Uniswap and Curve. The pool automatically adjusts to ensure equal weighting of tokens regardless of price fluctuations. The unique feature of Balancer is that you can add more than one token, and that ETH does not need to be required.

Although Balancer isn't the first DeFi protocol to make use of AMMs, it does bring a new approach to liquidity. The protocol allows liquidity providers to hold up to eight assets per market. They are weighted according percentages and automatically rebalanced.

Balancer users don't have to deposit 50% of the asset they want. Users can decide how much they wish to deposit in supported assets. Balancer Lab's unique ability to earn high returns on assets with low demand through arbitrage opportunities and slippage-reduction is what makes Balancer Lab so special.

Security is a top priority for Balancer. Trail of Bits (ConsenSys), and OpenZeppelin have audited the protocol three times. There are no backdoors or admin keys for the balancer pools. Balancer won't accept tokens even though they can be used in certain pools.

Smart contracts, however, have control over the tokens in Balancer pools. Balancer doesn't manage them. Smart contracts, however, have inherent risks. CRPs, which prevent tokens with known issues being used in pools of any kind, make sure that smart contracts are not allowed. It ensures that all tokens are able to safely interact with the protocol

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