You can now get Australian dollars into Binance.com using BPay and Poli – and trade Bitcoin and crypto without all the mucking about.
The world’s most popular crypto exchange, Binance, now enables user to buy and sell cryptocurrency for Aussie dollars.
The company has announced a partnership with global fiat on-ramp solution Banxa which enables users from today to buy and sell using the Australian Dollar (AUD), Euro (EUR) and British Pound (GBP) through the Binance Buy Crypto page.
Banxa bills itself as a ‘plug and play fiat onramp’ and has offices in Melbourne and Amsterdam.
Its website says that payment methods for Australians include the almost instantaneous PayID system, the fast and direct POLi system, along with BPay and the Blueshyft network of 1200 retailers who accept over the counter payments.
However you can’t just load up your account on Binance with AUD like you do on BTC Markets, Independent Reserve or CoinSpot.
Instead you login to Binance, head to the Binance Buy Crytpo page, and then buy Bitcoin or Ethereum at market price which is credited to your Binance wallet.
BPay costs a flat rate of $3 per transaction, while POLi and PayID attract a 1% fee.
Binance targets 180 currencies around the world
“We believe fiat will co-exist with crypto for a long time to come,” said CZ (Changpeng Zhao), Binance CEO.
“More than 99.9% of the global money supply is still in fiat and we need to continue building bridges to enable easier flow into crypto.
“In 2020, we aim to add support for all 180 fiat currencies.”
In an exclusive interview with Micky in November, CZ said that Binance planned to open an Australian branch.
“We are looking at different options to turn on Binance Australia,” he said.
“It may not be this year so hopefully early next year sometime we will turn it on.”
— Micky (@MICKYNewsOz) November 12, 2019
Binance Lite – which is an Australian based crypto brokerage outfit rather than an exchange – also recently began accepting AUD for Bitcoin on its website.
Until December it had only accepted retail payments through the Blueshyft network.
Banxa and Binance will be adding more countries and currencies over the coming months.
Earlier today, Binance announced a $1 million BNB donation to kick off its new charity project that aims to raise money to help with bushfire relief in Australia.