Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has Binance Coin, and is trustworthy!
You can find our top 3 exchanges for buying Binance Coin 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 Binance Coin
And of course, the final step is to find Binance Coin 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 Binance Coin (BNB)
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How to Sell Binance Coin
- Sign into the exchange
- Find where you stored your Binance Coin, either on a hardware wallet or on the exchange.
- Transfer your Binance Coin to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell Binance Coin.
Considerations when looking to buy Binance Coin.
Binance was launched in July 2017 and is the largest cryptocurrency exchange worldwide based on daily trading volumes. Binance is a global cryptocurrency exchange that aims to make cryptocurrency exchanges more prominent in financial activity. Binance is a new paradigm in global finance. Its name stands for Binary Finance or Binance.
Binance is the world's largest cryptocurrency exchange. However, it also offers a wide range of functions for its users. Binance's network comprises the Binance Chain and Binance Smart Chain, Binance Academy and Binance Trust Wallet. All of these use blockchain technology to bring innovative finance to the world. Many of the Binance subprojects are successful because of BNB.
Binance is an ecosystem of blockchain-based, decentralized networks. The company is now the most popular crypto exchange in many countries. Their side organizations also attract significant interest.
Binance's drive to develop is one of its greatest competitive advantages. Binance was founded in 2017 as a crypto-exchange. However, the company has since expanded its services to many other spheres. The company website states that its mission is to be the infrastructure service provider for the entire Blockchain ecosystem.
The exchange has seen increased investor interest since the launch of the BNB. BNB saw a significant price rise at the start of 2021 which put it on the radar of enterprise investors.
BEP-95 has upgraded already deflationary tokenomics, making BNB even deflationary. The proposal has resulted in gas fees for Binance Smart Chain becoming even lower as the network uses a portion of the fees to further decentralize. This proposal was inspired by Ethereum's EIP-1559.
Binance has been able to overcome numerous exploits on protocols on BSC such as the $200M Pancake Bunny exploit and hacks of Cream Finance. Despite these hacks users continue to use Binance because of its low fees, and the wealth of lucrative meme coins it has.