Summary: The easiest way for Australian investors to purchase the cryptocurrency Binance Coin (BNB) is by going through a secure and regulated cryptocurrency exchange. CoinSpot is the safest cryptocurrency investing platform in Australia and offers free & instant AUD deposit methods.
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Binance Coin (BNB) is a digital asset created by Binance, one of the world's leading cryptocurrency exchanges. BNB was initially issued as an ERC-20 token on the Ethereum blockchain but has since migrated to Binance's own blockchain, Binance Chain.
BNB plays a key role in the Binance ecosystem and is used to pay fees on the exchange, including trading fees, listing fees, and much more. BNB can also be used to purchase goods and services on the Binance platform, such as travel vouchers and gift cards.
In this guide, we will show Aussies how to buy the cryptocurrency Binance Coin (BNB) through CoinSpot. CoinSpot is Australias largest and most secure cryptocurrency exchange that offers trading on over 370 tokens.
Yes, Binance Coin is the fifth largest cryptocurrency in the world in terms of market cap, so it is available to buy on most cryptocurrency exchanges. However, even though there is an abundance of cryptocurrency investing platforms that offer this token, it's important to choose which exchange to use wisely.
Most cryptocurrency exchanges available in Australia are not properly regulated and licensed, and your funds may not be secure on their platforms. We suggest using a trusted cryptocurrency exchange like CoinSpot, it is the only high-security digital asset investing platform in Australia. It offers competitively low fees and many features including cryptocurrency staking and an NFT marketplace.
How to buy the Binance Coin Crypto (BNB) in Australia
In this example, we show Aussies how to buy Binance Coin via Bank Transfer (Osko) but you can also deposit Australian dollars via POLi, PayID, BPAY and cash. Follow the below steps to get started.
Create an account on CoinSpot and verify your identity.
Click ‘Deposit Funds’ then ‘Direct Deposit’.
Copy your Unique Direct Deposit Details into your banking app and send funds to your CoinSpot account. The funds will be deposited instantly.
Go to the ‘Buy/Sell’ tab and search for BNB
Input the amount you want to invest and select ‘Buy’
In addition to being a utility token, BNB is also an important part of Binance's governance system. Binance uses 20% of its profits to buy back and destroy BNB tokens each quarter, in a process known as "coin burning." This reduces the supply of BNB in circulation and, theoretically, should increase the value of the remaining tokens.
Coin burns are just one way that Binance is working to increase the value of BNB. The exchange has also been investing heavily in new products and services, such as its decentralised exchange (DEX) and launchpad platform for initial coin offerings (ICOs). With a strong team, active community, and promising roadmap, Binance Coin is one of the most exciting projects in the cryptocurrency space.
Binance Coin (BNB) Live Price in AUD
Below you can find the live price and chart of the cryptocurrency, Binance Coin (BNB) in Australian dollars.