How to Buy Balancer (BAL) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has Balancer, and is trustworthy!

You can find our top 3 exchanges for buying Balancer here, alternatively you can also check our comparison of the best Australian crypto trading platforms if you’re generally interested in seeing which exchanges work for Australians.

2. Sign up with the crypto exchange

Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.

3. Fund your account

The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.

4. Buy Balancer

And of course, the final step is to find Balancer on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.

Where to Buy Balancer (BAL)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell Balancer

  1. Sign into the exchange
  2. Find where you stored your Balancer, either on a hardware wallet or on the exchange.
  3. Transfer your Balancer to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell Balancer.
Businessman looking at crypto trend

Considerations when looking to buy Balancer.

Balancer, an automated market maker (AMM), was launched on March 2020. It is based on Ethereum blockchain. It was able raise a seed round of $3M from Accomplice and Placeholder. The Balancer protocol is a self-balancing weighted portfolio that can also be used as a price sensor, liquidity provider, and price sensor. Users can make profits by using the newly introduced token ($BAL), which allows them to contribute to customizable liquidity pools.

In that anyone can create token pools, Balancer is very similar to Uniswap or Curve. The pool automatically adjusts to ensure that tokens are equally weighted, regardless of price changes. One unique aspect of Balancer is the ability to add more than one token and that ETH is not required.

While Balancer is not the first DeFi protocol that makes use of AMMs it brings a fresh approach to liquidity. Uniquely, the protocol allows liquidity providers to have up eight assets per market that are weighted according to percentage and automatically rebalanced.

Users don't need to deposit 50% of their desired asset with Balancer. They can choose how much they want to deposit in supported assets. Balancer Lab's unique feature is the ability to make high returns on assets in low demand by arbitrage opportunities or slippage-reduction.

Security is a priority for Balancer. The protocol has been audited by Trail of Bits (ConsenSys) and OpenZeppelin three times. The balancer pools cannot be upgraded and there are no admin keys nor backdoors. Even though tokens may be used on certain pools, Balancer will not accept them.

Balancer does not control the tokens in Balancer pools, but smart contracts do. However, smart contracts have inherent risks. Configurable rights pools (CRPs), which prohibit tokens with known issues from being used in pools, ensure that they are not allowed to be used. It also ensures that all tokens can safely interact with the protocol