- Binance Coin (BNB) is the native token of Binance, the largest cryptocurrency trading platform globally.
- To buy BNB in Australia, it is recommended to choose a safe and legitimate crypto exchange from a trusted list.
- CoinSpot is a recommended exchange due to its support for over 370 cryptocurrencies, including BNB, and its reputation as the most secure and trusted exchange in Australia.
- The process of buying BNB involves signing up with a crypto exchange, verifying the account, depositing funds, navigating to the Buy section, selecting the desired amount of BNB, confirming the purchase, and storing BNB securely in a personal wallet if preferred.
Binance is the largest cryptocurrency trading platform in the world, and their native token Binance Coin (BNB) is one of the largest coins by market capitalisation. It can be used to reduce trading fees on Binance if you use it to pay your fees, which has made it extremely popular among large-volume traders. If you want to get your hands on Binance Coin to take advantage of the potential increase in value, then follow this simple step-by-step guide.
Where to buy BNB (Binance Coin)?
Since BNB is one of the largest cryptocurrencies by market capitalisation, you will be able to find it at almost every single crypto exchange in Australia. The biggest factor is that you choose an exchange that is safe and legit, so you don't get scammed. We recommend you choose an exchange from our list of the best crypto exchanges for Aussies, as they are all tested by us, and we can confirm they are secure and trusted.
In this guide of how to buy BNB (Binance Coin), I will include screenshots from my personal CoinSpot account, so you can also open an account with CoinSpot if you want to easily follow along. The reason I choose CoinSpot as my cryptocurrency exchange is for the following reasons:
- Over 410+ different cryptocurrencies supported, including BNB
- Most secure and trusted crypto exchange in Australia
- Largest Australian exchange with more than 2.5 million users
- Staking on 21 coins
- Live Chat support
- NFT marketplace where you can buy NFTs using any cryptocurrency you like
Exchanges where you can buy BNB
How to buy BNB (Binance Coin)?
7 easy steps
Buying BNB in Australia is really easy, all you have to do is follow along with these simple steps, and you will have your own BNB in no time.
1. Sign up with a crypto exchange
The first step is to open an account with your crypto exchange of choice. If you haven't decided, have a look at this guide on the top crypto exchanges in Australia (click here). Or if you want to use my recommended exchange, which I will use for my screenshots, open an account with CoinSpot. You can also read my CoinSpot review first before you decide.
To sign up with CoinSpot, click this link and you will be taken to a page like the screenshot below. Click Register in the top right corner, then fill out your email, create a password, click to prove you’re not a robot, then click Create Account.
2. Verify your account
After creating the account, you need to verify your account. Click on the "Complete Verification" button and continue with any steps that show up. You need to verify your email, and then then enter your identification details and finally upload a copy of your driver license. It can take a while for your verification to be finalised, so you can have a look around your CoinSpot account and get comfortable with the interface.
3. Deposit money into your account
Once your account is verified, it's time to deposit AUD into CoinSpot. In the top left of the account, you will see the "Deposit Funds" button. Click on that, and you should see the deposit page (see screenshot below). You can use whichever method you like from that list, but my recommendation is POLi. Funds are deposited instantly and there is no charge incurred. Type in the amount you want to deposit, select your bank, and then click the "Continue to POLi" button to finalise your deposit.
4. Go to the Buy section in your account
Once your money is in your CoinSpot account, you are ready to buy some BNB (Binance Coin). Click on Buy/Sell in the menu along the top, then search BNB. Click on Buy BNB and you will see the purchase screen, like the screenshot below. The price of BNB is shown clearly in the middle of the screen.
5. Select how much BNB you want to buy
Select how much AUD you want to spend on BNB, then click the Buy button. You will see a pop-up which confirms how much you are spending, the fee, and how many coins you will receive.
6. Buy BNB (Binance Coin)
When you have checked that all the information is correct, you can click Confirm Buy to finalise your transaction. Congratulations, you are now the proud owner of some BNB!
7. Store your BNB safely
Now that you have made your purchase of BNB (Binance Coin) you can find it in your CoinSpot wallet by clicking on Wallets at the top of the screen. You can see how much BNB you own, and the value in AUD. You can leave your BNB in CoinSpot, which is the most secure crypto exchange in Australia. If you prefer to be even safer, you can send your BNB to a personal wallet. You can click here to read about the best crypto wallets for Australians.
Frequently Asked Questions
Yes, it is perfectly legal to buy, sell and own BNB (Binance Coin) in Australia.
If you choose a trustworthy and secure cryptocurrency exchange, it is safe to buy BNB in Australia. CoinSpot is the #1 top crypto exchange in Australia, and you can be assured that it is safe to buy BNB using their platform.
If you want to buy other cryptocurrency such as Bitcoin, Dogecoin or Solana, you can follow the same steps above, but in Step 4, type in the coin you want to buy instead of Binance Coin.