BNB is the native token of the Binance cryptocurrency exchange and the Binance Decentralised Exchange (DEX). Because it was originally built on the Ethereum network, BNB tokens were ERC-20 tokens hosted on Ethereum at first. However, after the launch of the Binance Chain mainnet in April 2019, the BNB tokens were swapped from ERC-20 to BEP-2 and hosted on the Binance Chain instead. Running parallel to the Binance Chain is the Binance Smart Chain (BSC), an EVM-compatible network that relies on a new consensus mechanism called Parlia. Parlia is a Proof-of-Staked Authority (PoSA) consensus mechanism that is a hybrid between Proof-of-Stake (PoS) and Proof-of-Authority (PoA).
BNB is used for a variety of different network functions, including delegated staking on the authority validator, trading fee discounts, and participating on the Binance Launchpad. The total BNB supply is capped at 200 million, with an implemented burn mechanism that reduces the supply approximately every three months until it reaches 100 million. You can buy BNB in New Zealand on the Swyftx cryptocurrency exchange.
Sign up to the Swyftx cryptocurrency exchange to buy Binance Coin (BNB) with low trading fees and minimal spreads. To sign up, provide your personal details like your full name, phone number and email address and create a unique password. Next verify your identity, by submitting an online copy of your photo id (i.e. drivers license, passport). This step takes most people only a few minutes to complete.
Next, you can deposit funds into your account via a number of different payment methods. Swyftx supports deposits made via bank transfer. Once your deposit has cleared you can buy BNB and trade hundreds of different cryptocurrencies.
The best place to buy Binance Coin is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Binance Coin (BNB). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of BNB is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Binance Coin with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy BNB instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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This should not be used to make investment decisions.
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I have used a number of exchanges over the past few years and Binance was always my go to, but when they started getting restricted in Australia I nee...
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The customer service is great! It doesn't take long to withdraw from your account within one day my funds are in my bank account which is great.