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.
Key takeaways
- Binance no longer offers AUD bank transfers as of 2023.
- But there are plenty of other exchanges in Australia that let you buy crypto using AUD.
- Alternate exchanges include SwyftX, Coinbase Australia and Kraken.
Given the big changes happening at Binance, you might be feeling motivated to move your funds off Binance and on to another exchange or into a crypto wallet.
As of 2023, Binance disabled AUD bank transfers, which is one reason you might be looking for an alternative.
If you're looking for a convenient alternative to Binance that offers AUD purchases via bank transfer and PayID for a wide range of cryptocurrencies, check out some options below.
Binance's legal woes
"While Binance remains a popular, feature-rich exchange, it no longer offers AUD deposit and withdrawals. If you're looking to buy crypto in Australia, the ability to use AUD can be a big plus, which is why you might want to find an alternative."
Must read: Using an Australia-based exchange
These exchanges are relatively straightforward to use and aimed at beginners. Mind you, they don't offer quite as many of the advanced trading features or markets that Binance is known for offering, and earning opportunities may be limited or unavailable.
Pros
- Local exchanges headquartered in Australia
- Allow users to buy directly in AUD
- Low and no fee deposits and withdrawals
- User-friendly interfaces
- Wide selection of cryptocurrencies
- Registered with AUSTRAC and compliant with AML/CTF laws
Cons
- Lacks advanced trading features
- Rates may vary, so it's important to check before you trade to see how much you're paying
Compare more alternatives to Binance Australia
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How we picked theseFrequently asked questions
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The best alternatives to Binance include Coinbase, Kraken, and KuCoin. These exchanges offer a wide range of cryptocurrencies, robust security features and competitive fees, making them strong alternatives to Binance.
Sources
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.
James Edwards is a seasoned cryptocurrency expert and content creator with over a decade of experience in blockchain, DeFi and Web3. An early adopter of Bitcoin, he has contributed to major outlets like Nasdaq, CoinDesk, and The Street, and has reported at leading industry events such as TechCrunch Disrupt and CoinDesk Consensus. James has produced over 200 YouTube videos, including interviews with influential figures like Changpeng Zhao (CZ) and Tim Draper, and holds a Bachelor of Liberal Arts & Sciences in Psychology from the University of Sydney, along with a Tier 1 Generic Knowledge certification in compliance with ASIC standards. James created cryptocurrency content at Finder as a video producer, writer and editor from 2018 to 2023. See full bio
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