In an endeavor to provide reliable and full fiat-to-crypto trading platform Binance Australia is launched with a broader vision, “to integrate digital currencies into people’s daily lives.”
This initiative is an extension to Binance’s earlier launched crypto platform Binance Lite Australia. Binance Lite began in March 2019, though with limited services. However, with this full launch margin trading, crypto futures, and crypto lending would be accessible including other features and functions on the platform.
As per the official blog, new Binance Australia would contribute to the company’s mission in expanding its reach further while providing convenience to the users. This broad platform claims to offer services like buy and trade digital currencies across the world with the Australian Dollar (AUD) like other local currencies.
Meaning, Australian users now can enjoy various benefits like deep liquidity, high speed along with security mechanisms.
The blog while citing, Binance Founder and CEO Changpeng Zhao (CZ) mentioned-
“Australia has been at the forefront of blockchain innovation with favorable policies. By providing a secure and regulated platform for trading digital currencies with AUD, Binance Australia aims to make crypto more accessible among Australian users, furthering our mission to provide crypto access and drive freedom of money worldwide.”
As per the information, Australian users are not required to pay any fee to use the platform for deposits or withdrawals. Australian users can directly deposit AUD to continue trade in digital currencies after linking with bank accounts through PayID.
Similarly, the withdrawal request will work. Australian users can link their bank accounts with Binance Australia and hassle-free proceed further. However, the regular fee which starts from 0.1% and the 25% fee discount is available for BNB users.
Australian users can avail of the platform service by visiting the Binance website as usual by selecting Australia as their country. They can create an account and get their identity verified. However, the pre-verified account holders are required to update their identity information if it’s not apprised.
As of date, the service in Australia is available via desktop and mobile web, and app support is expected soon.