Is Binance legal in Australia?
Yes, registering with Binance (https://binance.com) from Australia and trading cryptocurrencies is perfectly legal. The only thing that is not possible is to open new futures accounts since last August 7 of this year 2021. This restriction has been put into practice in order to comply with the regulations and laws of the country.
But opening new spot and mining accounts can be done with complete peace of mind. With them we can use most of the main functions of the portal to trade cryptocurrencies.
With spot accounts we can buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE) or any other digital asset. The total of available securities exceeds 300 references between securities with greater or lesser market capitalization.
In addition, we can use these accounts to use the trading, training, rewards center or the referral program. The only sections not available on Binance Australia are those for trading financial futures and derivatives.
In an extra way, we also have in this country the opening of mining accounts. With them, we can obtain small fractions of some of the new cryptocurrencies launched on the platform.
- Link to test the platform
Is Binance Australia legit?
Sure, the Binance platform operates completely legitimately in Australia. Users with residence in this country can register, access, trade or store cryptocurrencies in a perfectly legal way. As we have anticipated in the previous answer, the only thing that is not possible is to trade futures or through financial derivatives.
The platform, with these measures, adapts to the cryptocurrency regulation that is in force in the country. The portal operates in more than 100 countries and scrupulously complies with all the laws regarding each one of them. Given that digital assets have a short history, not all countries have their own laws applied to these assets. And those that do have them, have very diverse regulations, more or less restrictive about the commercialization of cryptocurrencies. In each and every one of the cases, the platform complies with such legislation, allowing access to its website or not depending on each country.
In the case of Australian investors, we can perform the functions explained above, with the purchase / sale of the main securities such as Bitcoin (BTC) being the one most used by portal users.
Can Binance be trusted?
If we intend to trade or store cryptocurrencies, the Binance portal is one of the perfect and reliable portals for investing in these new digital assets. This statement is not only thought by us, it is thought by most of the experts in the blockchain sector and more importantly, it is thought by more than 200 million users who have registered on the web in recent years.
The statement that this exchange is a safe and reliable place to invest in cryptocurrencies is based on two vital aspects. The first of these is the security available to this platform. With millionaire investments, he has turned this platform into a true online fortress. In it we have security measures with double verification accesses and other cutting-edge measures so that our assets and data always remain safe. Thanks to this, many users have chosen to carry out their trading operations or purchase / sale of cryptocurrencies from this portal.
The second vital factor for its users to trust it is the data of the platform. With them it has become a true giant of the sector. Among the most outstanding figures we have the data given above, more than 200 million users spread throughout the world. Another of the most striking figures is the number of operations per second, above 1.4 million, simply stratospheric. This data details its leading position in the digital asset brokerage market and this brings great peace of mind to most investors who use it.
What is the best crypto exchange in Australia?
We cannot say which is the best exchange because there are 3 or 4 that work really well with excellent features and functionalities. Obviously Binance is one of them. Currently we can find countless new exchanges specialized in trading with cryptocurrencies. Our recommendation and that of most experts is to do it only in one of the main ones. Among other reasons, because they are the ones that invest the most in security so that our investments remain among the best safeguard standards.
Another of the most relevant aspects when it comes to finding the best portal to trade with digital assets is its mode of use. In the case of Binance.com, it is another of its strengths. Its section for buying and selling cryptocurrencies is really simple and is something that followers appreciate in high regard. More complication has the section to do trading, especially in the first ones it costs a little to interpret the graphs. Once you get used to it, it is to recognize that you have a perfect balance between simplicity and professionalism.
Another of the highlights of the platform is the ease of entering or withdrawing money. With several options for selecting withdrawal methods, it is one of the highest-scoring aspects of specialized investment industry forums.
How to contact Binance?
To contact Binance from Australia directly we only have the chat. To access it in the computer version we have to press the yellow button that we will see in the lower left part of our screen. If we want to access it from the mobile version we have to click on the main menu, go to the help center option and there the option to communicate through direct chat will be displayed.
The chat is available during business hours every day of the year except holidays. The answer is usually given to us in small periods of time in correct English. In this way we can make as many consultations as we deem appropriate on any subject as long as we are previously registered.
However, we recommend going to the help center before communicating via chat. We make this request because most of the answers to any questions or problems can be found in this help center. In it we have separated by subject the most frequently asked questions that have been asked by hundreds of thousands of users or investors before us.
The help center can be found at the address in the lower menu. As soon as we enter we will see the most relevant topics such as password change, security, email change, data verification or capital withdrawals.
Social networks with complementary information
The most important social networks of the network are a perfect place to expand the information about Binance in Australia. In them we can find related news, publications and opinions of other users of the platform.
These online sites are perfectly valid places to increase our level of knowledge about Bitcoin (BTC) or other values with greater or lesser consolidation in the market. In the same way, we can have videos or infographics to expand our information on trends or investment strategies in the short, medium or long term.
Some of these social networks are the following:
- Twitter # binance Australia
- Youtube # binance Australia
- Pinterest # binance Australia
- Reddit # binance Australia
What fees does Binance charge?
The Binance platform in Australia has various types of commissions or fees. First, we have the commission applied to each cryptocurrency purchase or sale operation. In each of them the amount is discounted by the rate applied to this concept and it varies depending on the level of each account. In total, there are 9 different account levels and the rate varies between a minimum of 0.0450% and a maximum of 0.0750%. The levels applied are based on the total capital mobilized in the portal. It is important to note that all commission ranges are below the industry average and this factor makes it really attractive to investors.
The second rate applied is derived from the concept of capital withdrawals. This commission is applied at 1% if we choose bank cards as a method to withdraw money. If we select ADVCash as an option to make withdrawals, there is no commission applied to the amounts withdrawn. Due to this detail, many Australian users are beginning to select withdrawal options without commission.
In general, we can affirm that this portal has reasonable commissions, much lower than offline brokerage companies on more traditional securities. If we buy it exclusively with other exchanges, it also comes out victorious because it has lower rates and is another of the reasons why it brings together such a volume of registered investors.
Our review on this exchange
To be honest, we have to anticipate that Binance (https://binance.com) is one of the exchanges that each of the members of the study team of this portal usually use personally. By this we mean that this review has been really easy to study and publish.
Not only do we know about this platform but most of the followers of the blockchain sector know it since it is one of the main references when it comes to trading or saving cryptocurrencies. It is not surprising that it already has more than 200 million users spread around the world, a figure that will not stop growing as the most prominent values on the market continue to grow, such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and the rest of the most relevant crypto assets.
The main factors that have turned this portal into a giant are the ease of use, the security applied to all its transactions and the low commissions. These rates are below the general average for the sector and many other platforms have had to reduce them following the strategy set by this exchange.