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How to buy BUSD (BUSD) in Australia

Learn how to buy BUSD (BUSD) on 6+ crypto exchanges in our step-by-step guide.

BUSD (BUSD) is the 597th largest cryptocurrency by market cap, valued at US$71,222,241.

BUSD is a highly volatile asset capable of major price swings in a single day. Today BUSD is trading for $1.01 USD, which is lower than yesterday's trading price of $1.02 USD. Over the past year, BUSD's price has seen an increase of 1%.

So before you buy BUSD, make sure you understand these unique risks as well as its legal and tax status here in Australia.

If you're ready to get started, read on for step-by-step instructions on how you can use to buy BUSD.

This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.

How to buy BUSD in 5 steps

The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.

  1. Compare crypto exchanges
    The easiest way to buy BUSD is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy BUSD
    You can now exchange your funds for BUSD. On beginner-friendly exchanges, this is as simple as entering the AUD or BUSD amount you want to purchase and clicking "buy".
  5. Secure your BUSD
    Consider transferring your BUSD to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.

Where to buy BUSD in Australia

Find an exchange to buy, sell and trade BUSD by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

1 - 5 of 5
Name Product Deposit methods Fiat currencies Cryptocurrencies Offer Disclaimer Link
Finder AwardExclusive
EXCLUSIVE
Coinstash
Bank transfer, Cryptocurrency, Osko, PayID

1

815

Finder exclusive: Get up to $200 BTC when you complete certain steps on sign up. T&Cs apply.

Capital at risk

View details
Changelly Crypto-to-Crypto Exchange
Changelly Crypto-to-Crypto Exchange
Bank transfer, Credit card, Cryptocurrency, Apple Pay

86

711

Capital at risk

View details
Paybis
Bank transfer, Credit card, Cryptocurrency, Debit card, Neteller, Skrill, AstroPay

58

357

Capital at risk

View details
Easy Crypto
Easy Crypto
Bank transfer, SiD EFT

1

108

Capital at risk

View details
OFFER
Gemini
Cryptocurrency, Debit card, PayPal, Wire transfer, Apple Pay, Google Pay

7

152

Capital at risk

View details
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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How we keep this BUSD guide up-to-date

  • BUSD price data is regularly updated through data feeds so you always have the latest information.

What is BUSD?

Launched in 2018 by the Paxos Trust Company, the Pax Dollar, or USDP, is a US dollar stablecoin. The token was developed to provide a place for users to store funds away from the high volatility of the cryptocurrency markets. Originally called the Paxos standard, with a ticker symbol - PAX, Paxos decided to rebrand the name of the token to the Pax Dollar (USDP) in 2021.

According to Paxos' website, each USDP can be redeemed for 1 US dollar at any time. The aim of the project is to hold the ratio between USDP and USD as close to 1:1 as possible. This is achieved through Paxos' physical reserves. It is the responsibility of the Paxos Trust Company to ensure that all circulating USDP tokens are backed by physical US dollars. As new USDP is minted, more reserves are added to Paxos' reserves. As USDP is removed from circulation, reserves are removed from Paxos's reserves. Thanks to being pegged to a fiat currency, the Pax Dollar can facilitate everyday monetary transactions while offering minimal price swings or other volatility induced risks. The token was developed using the Ethereum blockchain and was, therefore, created using the ERC-20 token standard. All transactions completed with USDP require a small gas fee payment made in ETH.

How do I find the best places to buy BUSD?

Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.

Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.

What will I need to buy BUSD?

To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.

An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading BUSD.

  • This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
  • Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing BUSD with your local currency then you will need to pass KYC.
  • Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.

What are the best ways to buy BUSD?

Once you've created an account, you will need to deposit funds to buy BUSD with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy BUSD:

  • Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
  • Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
  • Cryptocurrency: You can usually purchase BUSD by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for BUSD on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy BUSD?

The easiest way to buy BUSD is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.

Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.

Before buying BUSD, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of BUSD has been performing recently.

Best BUSD wallets to store your BUSD

You can keep your BUSD on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your BUSD below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

9,000+

Price (USD)

$149

Price (USD)

$179

Recent BUSD developments

March 2022: Volume for BUSD jumped 16% in the first day of March, with the token now accounting for 20% of the stablecoin market share. Much of this spike is due to Ukranian and Russian investors rushing out of fiat currency attempting to avoid the economic impact of the Russia-Ukraine war.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Is BUSD a good investment?

BUSD is an attempt at creating a US-dollar-backed stablecoin, but there are differentiators that set it apart from similar USD stablecoins. Make sure you consider the following before purchasing BUSD:
  • Regulation: The token is one of few regulated stablecoins and it complies with all the regulatory framework set out by the NYDFS. This can be seen as both a strength and a restrictive weakness.
  • Centralised: Paxos implements a "Set Law Enforcement Role" that can restrict and control accounts that do not comply with NYDFS requirements. In this sense, the BUSD token is not quite decentralised.
  • Audits: The token is audited by the NYDFS every month to provide transparency for users.

Today's BUSD price versus ATH

Compare today's price of BUSD ($1.01 USD) against its all-time-high price of $1.15 USD on 13 March 2020. The closer the bar is to 100%, the closer BUSD is to reaching its ATH again.

BUSD's price: $1.01 USD
ATH date: March 13, 2020
87.83%

BUSD ATH: $1.15 USD


How to trade, convert or sell BUSD

You can convert or sell your BUSD with the same exchange you bought it through:
  1. Sign in to the exchange you have BUSD on.
  2. If you store your BUSD in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of BUSD you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of BUSD.
  6. Complete your transaction and move your BUSD to a crypto wallet for storage.

How to buy other cryptos


Disclaimer: Cryptocurrencies, including BUSD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BUSD is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the BUSD or any other cryptocurrency discussed.

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