Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Binance USD. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good number of popular and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has Binance USD. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy Binance USD in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Binance USD in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying Binance USD, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Binance USD.
Or, if you’d like to know more about which exchanges we recommend, look at our comparison of the crypto exchanges.
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 USD, 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 USD
The final step is to go to their asset list, find Binance USD, navigate to the buy section, and then trade your AUD for some BUSD. Once you’ve bought Binance USD, 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 USD (BUSD)
|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 USD
If you’re thinking about selling Binance USD, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on Binance USD 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 USD for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying Binance USD 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 USD 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 USD. Have a look on their site first, you might be lucky.
How to buy Binance USD 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 USD with your credit/debit card.
About Binance USD
Binance USD (BUSD) is a stable coin, 1:1 USD-backed. It was issued in partnership by Paxos and Binance. Approved and regulated in New York by NYDFS. You can also view the BUSD Monthly Audit Report on the official website. BUSD was launched in September 2019, and aims to bring together the stability of the US Dollar with blockchain technology. It is a digital fiat currency, issued under the ERC-20. It supports BEP-2.
Stablecoin's price stability plays a crucial role in transactions, payments and settlements, as well as Decentralised Financing (DeFi).
These are just a few examples of BUSD use cases:
- In just minutes, you can send your digital dollars (BUSD) anywhere you want. It's easy and free.
- Trade USD on different exchanges and DEX.
- Deposit BUSD to earn interest
- You can pay in USD for goods and services.
- You can use BUSD as collateral or loan assets.
- You can use the BUSD as collateral for Futures.
- You can keep BUSD in your wallet or exchange it.
The BUSD ecosystem grew exponentially in 2021. Stablecoin's market capization increased exponentially, from US$1B in 2021 down to US$14.6B in 2021. It now ranks third in terms of market capitalization, behind USDC and Tether (USDC). This is due to greater adoption of wallets and platforms and services, CEXes and CEXes supporting USDC.
Trust Wallet and Metamask are the best wallets to store USD right now. Many platforms and services now support BUSD, including Travala (a travel booking site) and Banxa payment gateways. Wyre payment APIs and Wyre are all supported. Wyre is also supported by multi-currency payment services providers such as Paylot, Moonpay, and ivendPay. PancakeSwap currently is the most used DEX in BSCâ€™s ecosystem. Many other top DEXes also support BUSD, such as Uniswap, 1inch, Curve Finac and Ellipsis. Users of centralized exchanges (CEXes), can use BUSD outside Binance.US. These top exchanges include WazirX and Gate.io.
It can also be found on central platforms like Binance, Blockfi and Celsius for USD lending. You can also earn yield using top DeFi protocols like Venus, Aave, and yearn.finance.