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How to buy Binance Coin (BNB) in Australia

We make buying BNB as easy as 1, 2, 3 (...4, 5) in our step-by-step guide.

Buy Binance Coin (BNB) in 5 steps

  1. Find a crypto exchange that lists BNB. We've put together a list of exchanges that offer BNB in Australia.
  2. Choose a payment method. You can choose to pay by bank deposit, debit or credit card or another crypto.
  3. Create an account. Once you've picked an exchange that offers your preferred payment method, sign up for an account.
  4. Start trading. Select the amount of BNB you want to buy and then check all details are correct before hitting "Buy". You should be shown the total cost, including any fees.
  5. Decide how to store your BNB. It's safest to store your BNB on your own hardware or software wallet, but you could also leave it on the exchange.

Where to buy BNB

This is a table of crypto exchanges that offer Binance Coin (BNB) in Australia. It was updated on 30 May 2024.

1 - 15 of 15
Name Product GXFCY Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Go to site
Exclusive
EXCLUSIVE
CoinSpot
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

1

499

Get $20 in BTC when you make a deposit. T&Cs apply.
Go to site

Capital at risk

View details
Best Rated BrandExclusive
EXCLUSIVE
eToro Crypto
Bank transfer, Credit card, Debit card, PayPal, eToro Money

27

104

Get a US$50 bonus when you buy at least US$500 in crypto. T&Cs apply.
Go to site

Capital at risk

View details
Finder AwardExclusive
EXCLUSIVE
Swyftx
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

3

432

Get $20 in BTC when you verify your account. T&Cs apply.
Go to site

Capital at risk

View details
Finder AwardExclusive
EXCLUSIVE
Coinstash
Bank transfer, Cryptocurrency, Osko, PayID

1

1031

Finder exclusive: Get up to $200 BTC when you sign up and trade certain amounts. T&Cs apply.
Go to site

Capital at risk

View details
Exclusive
EXCLUSIVE
Digital Surge
Bank transfer, Cryptocurrency, Osko, PayID

1

386

Receive $10 BTC on sign-up and verification. T&Cs apply.
Go to site

Capital at risk

View details
Bitget
Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay

1

846

Go to site

Capital at risk

View details
Binance Australia
Credit card, Cryptocurrency, Debit card, P2P

115

384

Go to site

Capital at risk

View details
Finder app
Finder app
Bank transfer, PayID

1

13

Go to site

Capital at risk

View details
KuCoin
Credit card, Cryptocurrency, Debit card, P2P

5

792

Sign up and claim 100 USDT + 200 USDT trading coupon. T&Cs apply.
Go to site

Capital at risk

View details
Bybit
Cryptocurrency, Moonpay, P2P, Banxa, Mercuryo

21

472

Disclaimer: Highly volatile investment product. Your capital is at risk.
Go to site

Capital at risk

View details
Exclusive
EXCLUSIVE
Block Earner
Bank transfer, Cryptocurrency, PayID

1

339

Get $25 free crypto on first traded token with no min limits. T&Cs apply.
Go to site

Capital at risk

View details
Cointree
Bank transfer, Blueshyft, Cryptocurrency, PayID

1

225

Get $10 BTC on your first trade. T&Cs apply.
Go to site

Capital at risk

View details
Gate.io
Bank transfer, Credit card, Cryptocurrency, Debit card, PayID

64

2377

Invite friends and earn up to 40% commission. T&Cs apply.
Go to site

Capital at risk

View details
Paybis
Bank transfer, Credit card, Cryptocurrency, Debit card, AstroPay

49

379

Go to site

Capital at risk

View details
OKX
Bank transfer, Credit card, Cryptocurrency, Debit card

1

296

Capital at risk

View details
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What do I need to buy BNB?

  1. A crypto trading account.
  2. You'll need to sign up to your exchange of choice before you can buy BNB. In order to buy BNB with Australian dollars, you'll likely need to verify your identity and pass a Know Your Customer (KYC) check first.

  3. A payment method
  4. Depending on the exchange, you'll have the choice of buying BNB with credit or debit card, bank transfer or crypto. It's worth keeping in mind that there's normally a trade-off when buying with card. It can be the simplest way to buy crypto, but also normally comes with higher fees.

What is the cheapest way to buy Binance Coin (BNB)?

As a general rule of thumb, buying BNB on the spot market using a limit order may be the cheapest way to do it. If that sentence doesn't mean anything to you, read on.

The spot market is where buyers and sellers come together to place bids for BNB on the open market. You'll normally find the spot market under a "Trade" or "Spot" heading on the site or app menu of your crypto platform of choice.

If you see colourful charts with a range of prices, you're probably in the spot market.

A limit order is when you submit a order to buy a certain amount of BNB when it hits a certain price. For example, say BNB is currently trading at $900 but you think it might drop to $800. You can set a limit order to buy $1,000 worth of BNB (minus fees) when it hits $800.

Importantly, limit orders also generally have lower fees than instant buys and other purchase methods.

You can also choose to buy BNB on the spot market using a market order, which means your order will be automatically processed using the best available price.

Where to store your BNB

There are two main options for storing your crypto - keeping it on an exchange, or storing it in your own personal wallet.

While it can be more convenient to leave your crypto on an exchange, this leaves you at risk in the event the exchange is hacked, or compromised in another way.

It's generally much safer to store your crypto on a software or hardware wallet, which gives you full control and custody of your coins.

How to stake BNB

Once you're purchased your Binance Coin, you also have the option of staking it and earning a return. You can choose to stake your tokens on the BNB chain for a modest return while helping to secure the network. You can also earn a yield on your BNB using Binance's Earn feature.

As the official token of Binance, you can also use BNB to get a 25% discount on spot trading fees when using Binance's exchange.

Recent Binance Coin developments

30 April, 2024: Former Binance CEO Changpeng Zhao (known as CZ) was sentenced to 4 months in prison. He pleaded guilty to US money-laudering violations.
3 October, 2023: Binance's regulatory issues are ongoing: In September, Binance asked a US court to dismiss the SEC lawsuit, lost its banking partner in France, and the firm was pressured into selling its Russian business.
1 September, 2023: opBNB, a layer-2 network for Binance Chain goes live on the mainnet.
June 19, 2023: BNB Chain launches opBNB, a layer-2 testnet based on Optimism, which is a layer-2 scaling solution for EVM-compatible blockchains.

Is Binance Coin safe to invest in?

You should always do your research before investing in volatile assets like cryptocurrency. Like other digital assets, BNB is subject to the following risks:

Price volatility. The price of BNB has had dramatic rises and falls since its launch in 2017.

Hacks and theft. Exchanges are vulnerable to hacks and theft, so choose one with good security practices and a track record of safety.

Fiscal mismanagement. A number of crypto platforms have frozen user funds after it was revealed they had engaged in irresponsible funds management.

Insurance. While some exchanges have fully-backed reserves (and insurance programs) to protect user assets, this isn't always the case.

Regulatory issues. Binance and its founder CZ have recently been charged with money laundering offences in the US. If regulators continue to clamp down on Binance, the exchange may lose users. This would mean fewer people using BNB.

Centralised BNB holdings. Binance owns or custodies over 80% of BNB. This creates a central point of failure for the asset. If Binance's BNB holdings were to be hacked, it would likely negatively impact the price of the crypto. Similarly, BNB is used for proof-of-stake consensus on the BNB Chain, which means that the blockchain is effectively centralised.

Quarterly auto-burning. Binance has a quarterly auto-burn schedule for some of the BNB it holds on its balance sheet. In other words, every quarter, Binance burns or permanently destroys an amount of its BNB holdings. This reduces the supply of BNB and, in turn, theoretically benefits the price of the asset.

Thomas Stelzer's headshot
Written by

Publisher

Tom Stelzer is a publisher and writer for Finder, covering investing and cryptocurrency. He previously worked for Finder as a writer in Australia and the UK, covering things like personal finance, loans, investing, insurance as well as small business and business loans. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio

James Edwards's headshot
Co-written by

Cryptocurrency editor

James Edwards was the cryptocurrency editor at Finder. He led the editorial strategy and reported on the latest industry news to further Finder's mission of helping people make better financial decisions. A relatively early adopter, James has been using Bitcoin since 2013 and began working in the industry in 2017. He takes pride in his ability to boil down complex topics into language his parents can understand. His expertise has seen him called on to report at events such as TechCrunch Disrupt, CoinDesk Consensus and IBM Think, and he has coordinated a vast number of high-profile interviews with the industry's brightest minds. He is a regular contributor to Nasdaq and is frequently called upon for market commentary in Australia and abroad. See full bio

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