Summary: Binance Australia is a great option for advanced cryptocurrency traders in Australia looking to get access to a wide variety of assets, futures trading and more.

The Binance user-interface may get a little confusing for new users due to its wide variety of features and trading modes.

Table of Contents

Binance Australia Review

Binance Australia is a cryptocurrency exchange that allows you to buy, sell and trade over 500 different cryptocurrencies. It has been in operation since October of 2018 and has an Aussie headquarters in Sydney, Australia.

Their platform offers a wide suite of features for Australian cryptocurrency investors which includes leverage trading, crypto staking, perpetual futures, derivatives, Binance Smart Chain and much more.

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CoinSpot vs Binance Binance vs CoinSpot
Available Cryptocurrencies 350+ 400+
Trading Fees 0.1-1% Per Trade 0.1-1% Per Trade
AUD Deposit Methods Bank Transfer, PayID/Osko, POLi, Cash or BPAY Bank Transfer, PayID or SWIFT
Headquarters Melbourne, Australia Global (Decentralised)
Daily Deposit Limit $100,000 AUD $10,000 AUD
SMSF Support SMSF Support CoinSpot SMSF Support Binance
NFT Trading Platform NFT Trading CoinSpot NFT Trading Binance
Cryptocurrency Staking Crypto Staking CoinSpot Crypto Staking Binance
Fast and Local Support Team Local Support CoinSpot Local Support Binance
Overall Rating Image Image
Secure Website Link Visit CoinSpot Visit Binance


Binance Futures Trading

One of the key features offered by Binance Australia is futures trading. Futures contracts allow you to long or short a cryptocurrency with up to 20x leverage This can be helpful if you believe that the price of a particular cryptocurrency will go up or down and want to use leverage, or want to hedge your portfolio.

The Binance Australia Futures platform is integrated with the rest of the world, making their markets incredibly deep and liquid for large trades and great execution. There is hardly any slippage on trades of up to $1 million per order.

Binance Australia Futures Interface
Binance Futures Australia Interface


Binance Australia Card

Binance Australia also offers a Binance Card, which is a debit card that allows you to spend your cryptocurrencies anywhere that accepts Visa payments. The Binance Card is currently available in Australia, Canada, the United Kingdom and the United States.

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Binance Fees

Binance Australia offers the lowest cryptocurrency trading fees in Australia. Their platform has a base trading fee of 0.1%, which is significantly cheaper than competitors like Digital Surge (0.5%), Independent Reserve (0.5%), SwyftX (0.6%) or CoinSpot (1%).

Otherwise, for spot trades on Binance Australia, maker fees are 0.1% and taker fees are 0.3%. For futures trades, maker fees are 0.025% and taker fees are 0.075%. There is also a 0.02% funding rate for all open futures positions.

For a deeper comparison, you can read our versus content like CoinSpot vs Binance.

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Is Binance Banned in Australia?

No, Binance is not banned in Australia. Cryptocurrencies are legal in Australia and Binance is a licensed crypto exchange by the Australian Transaction Reports and Analysis Centre (AUSTRAC). Binance Australia is a registered business in Australia and operate under the Entity name Binance Pty Ltd (ABN 20 634 729 825).

Binance Australia on ABN Business Register

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Is Staking on Binance Safe?

Another feature offered by Binance Australia is staking. Staking allows you to earn rewards for holding cryptocurrencies in your account. The amount of rewards that you receive will depend on the type of cryptocurrency that you are staking and the length of time that you stake it for.

The currencies you can stake on Binance Australia to earn up to 30% APY in passive income are Ethereum, Solana, Cardano, Stablecoins, AVAX, Shiba Inu and much more.

Binance Australia Staking


Is Binance Australia Safe?

Binance Australia is a safe and secure platform to use. It uses Two-Factor Authentication to help protect your account. Additionally, all of your personal information is stored on servers that are located in secure locations.


Binance Australia Review: Final Verdict

Overall, Binance Australia is arguably the best and most sophisticated cryptocurrency exchange available for Australian investors. Their platform offers the deepest suite of Crypto-native services like leverage trading, cryptocurrency staking and other DeFi and CeDeFi features.

They also offer the widest variety of cryptocurrencies to trade in Australia for the lowest fee of 0.1% per trade.

Visit Binance
Posted 
March 20, 2022
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