Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Binance Coin. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of reliable and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has Binance Coin. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Binance Coin in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Binance Coin in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Binance Coin, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Binance Coin.
Also, check out our comparison of the best bitcoin trading platforms in Australia if you’re interested in learning more about which exchanges we prefer.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
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 Binance Coin, 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.
4. Buy Binance Coin
The final step is to go to their asset list, find Binance Coin, navigate to the buy section, and then trade your AUD for some BNB. Once you’ve bought Binance Coin, 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 Binance Coin (BNB)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit 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 Binance Coin
If you’re thinking about selling Binance Coin, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Binance Coin in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell Binance Coin for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Binance Coin 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 Binance Coin 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 Binance Coin. Have a look on their site first, you might be lucky.
How to buy Binance Coin 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 Binance Coin with your credit/debit card.
About Binance Coin
Binance, the world's largest cryptocurrency exchange, was launched in July 2017. It is ranked number one on the basis of daily trading volume. Binance, a global cryptocurrency exchange, aims to make cryptocurrency exchanges more prominent within financial activity. Binance is a paradigm shift in global finance. Binance or Binary Finance is its name.
Binance is the largest cryptocurrency exchange in the world. It also provides a variety of functions to its users. Binance's network includes the Binance Chain, Binance Smart Chain and Binance Academy as well as Binance Trust Wallet and Binance Trust Wallet. These all use blockchain technology to provide innovative finance around the globe. BNB is a key ingredient in many of the Binance subprojects' success.
Binance is a network of decentralized, blockchain-based networks. It is the most widely used crypto exchange in many countries. They also have side organizations that attract significant attention.
Binance's determination to grow is its greatest competitive advantage. Binance was established in 2017 as a cryptocurrency-exchange. The company has expanded its services to other areas since then. According to the company's website, its mission is "to be the infrastructure provider for the entire Blockchain ecosystem."
Since the BNB's launch, the exchange has experienced increased investor interest. BNB experienced a significant price increase at the beginning of 2021, which made it more attractive to enterprise investors.
BEP-95 has made BNB more deflationary by upgrading already deflationary tokenomics. As the network uses some of the fees to decentralize further, gas fees for Binance Smart Chain have fallen even more. This proposal was inspired in part by Ethereum's EIP-1559.
Binance has been able overcome many exploits on protocols of BSC like the $200M Pancake Bunny exploit, and hacks by Cream Finance. These hacks aside, Binance users still use it because of its low fees and wealth of lucrative me coins.