How to buy bZx Protocol (BZRX) in Australia

A beginner's guide to buying and selling BZRX in Australia.

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How to buy bZx Protocol

Look for an exchange that supports both fiat and cryptocurrency to simplify buying bZx Protocol.

  1. Open an account on an exchange that supports BZRX.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy bZx Protocol.
  3. Buy bZx Protocol.
    Complete your bZx Protocol purchase and then find the best wallet to store BZRX.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is bZx Protocol?

bZx (BZRX) is an ERC-20 Ethereum token used for DeFi margin leverage trading and cryptocurrency lending. The protocol is split into 2 main platforms. Firstly, Fulcrum is its DeFi margin lending and trading product, which allows people to trade or lend cryptos through tokenised loans called iTokens, as well as taking out tokenised positions in the market, called pTokens. The second platform, Torque, offers indefinite-term loans with fixed interest rates. Users can make passive income on the cryptocurrencies that they already hold by placing them in the Torque platform and receiving a fixed annual percentage reward for doing so. Alternatively, through Fulcrum, they can earn interest through iTokens, or take out short and leveraged trading positions to either maximise their gains or use them as collateral for loans. By holding BZRX tokens, users can also vote on governance procedures – for example, making upgrades to the bZx protocol like improved fees, staking and refunds.

bZx Protocol (BZRX) is the 441st largest cryptocurrency in the world by market cap, valued at $83,580,362. The current price of bZx Protocol is $0.271002, which is 3.632% higher than yesterday. Prices have ranged between $0.280828 and $0.261173 over the past 24 hours. All prices are listed in US dollars and accurate as of September 24, 2021 11:09 UTC.

Where to buy bZx Protocol

Find an exchange to buy, sell and trade BZRX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD, NZD

284
cryptocurrencies

Finder Exclusive: Receive $10 BTC on Sign up and Verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

307
cryptocurrencies

CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than 290 cryptos.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

271
cryptocurrencies

Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Digital Surge Cryptocurrency Exchange
Bank transfer, Cryptocurrency, POLi, Osko, PayID
AUD

276
cryptocurrencies

Finder Exclusive: New members get $10 bonus after verification. T&Cs apply.
An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

806
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
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bZx Protocol at a glance

Information last updated September 24, 2021 11:09 UTC.
Coin symbolBZRX
Coin MarketcapUS$83,580,362
Total BZRX supply1,030,000,000
Circulating BZRX307,780,996
Current priceUS$0.271002
All time highUS$1.64
All time high dateAugust 31, 2020

bZx Protocol price performance over time

Historical prices compared with the price of US$0.271002.

1 hour -0.11%
24 hours 3.63%
7 days -23.53%
14 days -11.47%
30 days -30.69%
60 days 33.18%
200 days -41.00%
1 year 55.77%

How to sell bZx Protocol

You can cash out your BZRX with the same exchange you bought it through:

  1. Sign in to the exchange you have BZRX on.
    If you store your bZx Protocol in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of BZRX you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of bZx Protocol.

What to consider when buying bZx Protocol

Cryptocurrencies are high-risk assets to trade at the best of times, but there are additional risks that users should be aware of with bZx specifically.
  • Low liquidity. bZx is one of the smaller tokens on the market with a market cap of less than $60 million as of July 2021. And while bZx is listed for buying and selling on the largest cryptocurrency exchange by trading volume, Binance, along with well-known exchanges like Uniswap and Gate.io, the token’s own trading volume is rather low, with few buyers and sellers swapping the token back and forth daily. This means that it could be difficult to sell bZx tokens at the price listed, and if traders need to cash in their coins in a hurry, they could be forced to sell at a price point lower than they want.
  • Poor security history. bZx was hit by 3 large-scale hacks in 2020. According to CryptoPotato, the DeFi protocol lost $1.6 million in ETH across 2 successful attacks in February 2020, and a third, larger hack saw $8 million in ETH drained from bZx wallets.
  • Regulation concerns. DeFi platforms, crypto lending services and major exchanges are all having to accede to tighter regulations at the moment. For example, according to Benzinga, the popular crypto lending service BlockFi has been issued a cease and desist order by the Texas State Securities Board, decentralised exchange Uniswap says it has delisted 100 tokens that could be considered securities, and according to Cointelegraph, the popular FTX exchange has dramatically cut the amount of leverage available for margin trading tokens to a maximum of 20x. It is likely that bZx will be affected by this kind of concern, and as a DeFi and lending protocol, it could face the ire of market regulators if it does not fall in line, with a commensurate effect on the price of the bZx token.

Disclaimer: Cryptocurrencies, including bZx Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BZRX 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 bZx Protocol or any other cryptocurrency discussed.

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