# How to Buy Binance Coin (BNB) in Australia > Learn how to buy Binance Coin (BNB) in Australia with PayID or bank transfer, plus what BNB is, how BNB Chain works, and how to store BNB safely. This guide walks you through how to buy Binance Coin (BNB) safely in Australia, from opening and verifying an account to moving your coins into secure storage. It then explains what BNB is, how BNB Chain works, who created it and what the token is used for. This is general information only and not a recommendation; always do your own research before buying any cryptocurrency. 2017 Established 4.80 / 5 Rated AU Australian-Based Customer Support Get started ## How to Buy Binance Coin Safely in Australia: 3 Easy Steps To buy Binance Coin in Australia on Digital Surge: create a free account, verify your ID, deposit AUD by PayID or bank transfer, then place your BNB order at the live price. The whole process usually takes about five minutes. 1. ### Create and verify your account Sign up with your email, then verify your identity with an Australian ID document such as a driver's licence or passport. Turn on two-factor authentication while you're there. 2. ### Deposit AUD Fund your account with PayID for a near-instant transfer, or use a standard bank transfer from your Australian bank account. There are no deposit fees either way. 3. ### Buy Binance Coin Search for Binance Coin (BNB), enter the amount of AUD you want to spend, review the order details and fee, then confirm. Your BNB appears in your balance straight away. On this page 1. How to Buy Binance Coin Safely in Australia: 3 Easy Steps 2. What is Binance Coin (BNB)? 3. Binance Coin at a glance 4. How to Store Binance Coin Securely 5. FAQs Chapter 02 ## What is Binance Coin (BNB)? Binance Coin (BNB) is the native coin of BNB Chain, and it began life as the token of the Binance cryptocurrency exchange. It launched in 2017 as an ERC-20 token on Ethereum, first used to give traders a discount on Binance fees. Over time it grew into the coin that powers its own blockchain and a wider ecosystem of applications. Today BNB works as a utility token: something you use to pay for and access services, rather than a claim on any company. On Digital Surge, BNB is categorised as a Layer 1 asset and is handled on the BNB Smart Chain (BEP20) network. BNB Chain supports smart contracts and decentralised applications and is built for fast, low-cost transactions. - **Origin:** issued in a 2017 token sale as an ERC-20 token on Ethereum. - **Chain history:** moved to Binance Chain (BEP-2) in 2019, gained the smart-contract Binance Smart Chain in 2020, and the two were unified as BNB Chain in 2022. - **Consensus:** Proof of Staked Authority, producing a new block roughly every three seconds. - **Uses:** paying gas on BNB Smart Chain, fee discounts on Binance, token sales and governance voting. - **Supply:** reduced over time through recurring token burns. ### Who created Binance Coin? BNB was created by Binance, the exchange founded by Changpeng Zhao, widely known as CZ. The token was issued through a sale in mid-2017, shortly before the Binance exchange itself opened in July 2017. It first ran as an ERC-20 token on Ethereum, then moved onto Binance's own chains as the project built out its infrastructure. That history is why BNB has existed on more than one token standard over the years. ### How does BNB Chain work? BNB Chain's main smart-contract layer is BNB Smart Chain, which is EVM-compatible, meaning it can run the same style of applications as Ethereum. It uses a Proof of Staked Authority system, where a set of validators takes turns producing blocks about every three seconds, which keeps transactions fast and fees low. BNB is the coin used to pay those transaction fees. The wider ecosystem now also includes the opBNB Layer-2 network and BNB Greenfield, a decentralised storage system. ### What is BNB used for? BNB has several practical uses. On BNB Smart Chain it pays the gas fees for transactions and smart contracts. On the Binance exchange, holding and using BNB can reduce trading fees. It is also used to take part in token sales on Binance Launchpad, to interact with DeFi apps, NFT marketplaces and other DApps built on the chain, and as a governance token for voting on some network parameters. ### How do BNB token burns work? The supply of BNB is designed to shrink over time. BNB Chain runs a recurring Auto-Burn that permanently removes a portion of the coins from circulation, and there is also a smaller burn linked to the gas fees on each block. Because burned coins cannot be used again, the total number of BNB gradually falls. This is a supply mechanism only, and it does not guarantee anything about the coin's value. ### Things to consider before buying Binance Coin BNB can be volatile, and its value in AUD can rise or fall sharply over short periods. It is closely tied to the Binance exchange and the BNB Chain ecosystem, so news affecting them can affect the coin. If you self-custody, keep your keys safe and use the correct network when you withdraw, because on-chain transfers cannot be reversed. This is general information only and not a recommendation, and it does not take your personal circumstances into account. Consider your own situation and do your own research before buying. ### Why Buy Binance Coin? Many Australians hold Binance Coin because it is the utility token of BNB Chain, used to pay gas on BNB Smart Chain, to reduce trading fees on the Binance exchange, and to take part in the wider ecosystem of applications built on the network. Digital Surge lets you buy BNB with AUD via PayID or bank transfer and offers Australian-based support. This is general information only and not a recommendation; consider your own circumstances before buying any cryptocurrency. ### Buying Binance Coin in Australia: the quick recap To buy Binance Coin in Australia on Digital Surge: create a free account, verify your ID, deposit AUD via PayID or bank transfer, then buy Binance Coin. The whole process takes about five minutes, and your Binance Coin is held safely in your Digital Surge wallet. ### Learn more about Binance Coin On Digital Surge you can [see the live Binance Coin price and BNB to AUD converter](/buy/bnb/), see other coins in the [Layer 1](/categories/layer-1/) category, or read [what cryptocurrency is](/education/what-is-cryptocurrency/) before you buy Binance Coin in Australia. Chapter 03 ## Binance Coin at a glance Market rank Market cap Volume (24h) Circulating supply 1 BNB = AUD [See the live chart and buy BNB →](/buy/bnb/#price) All figures in AUD · refreshed live on this page · last built 4 Aug 2026 Chapter 04 ## How to Store Binance Coin Securely Once you buy Binance Coin in Australia on Digital Surge, you can store it securely in your Digital Surge wallet for easy access and trading. For additional security, you can transfer your BNB to: ### Exchange custody: convenient for everyday access The simplest option is to keep your BNB in your Digital Surge account, where the platform holds it in custody for you. This suits smaller amounts and frequent trading, and you protect it with a strong, unique password and two-factor authentication instead of managing a recovery phrase yourself. ### Self-custody wallets: hold your own keys For full control you can withdraw BNB to a wallet you own, such as a software wallet on your phone or a hardware wallet that keeps your keys offline. Choose a wallet that supports BNB Smart Chain (BEP20) so your coins arrive on the correct network. Hardware wallets suit larger or longer-term holdings. ### Protect your recovery phrase and check the network If you self-custody, write your recovery phrase down, store it offline and never share it or type it into a website. Always confirm both the address and the BNB Smart Chain (BEP20) network before you send, because on-chain transfers cannot be reversed. Digital Surge staff will never ask you for your recovery phrase. Chapter 05 ## Frequently Asked Questions Is Binance Coin legal in Australia? Yes. Buying, holding and selling Binance Coin is legal in Australia, and cryptocurrency exchanges operating here must meet Australian anti-money-laundering and know-your-customer obligations. Digital Surge is an Australian exchange. What is the difference between the Binance exchange and BNB Chain? The Binance exchange is a trading platform where people buy and sell crypto. BNB Chain is a separate public blockchain that anyone can build applications on. BNB started out tied to the exchange, giving fee discounts, but it is now the native coin of the chain as well. Digital Surge is a different, Australian exchange, and buying BNB here does not involve a Binance account. How do BNB token burns affect supply? BNB Chain permanently removes coins from circulation through a recurring Auto-Burn and a smaller fee-linked burn on each block. Once burned, those coins cannot be used again, so the total supply of BNB gradually decreases over time. This is a feature of how the token is managed, not a promise about its value. Which network should I use to withdraw BNB from Digital Surge? On Digital Surge, BNB is handled on the BNB Smart Chain (BEP20) network, so a withdrawal settles there. If you send BNB to another wallet or exchange, make sure the receiving side supports BNB Smart Chain (BEP20). Sending on the wrong network can cause the coins to be lost, and on-chain transfers cannot be reversed. How do I deposit AUD to buy Binance Coin? You can deposit AUD using PayID or bank transfer, both with zero deposit fees. PayID deposits typically clear quickly, so your funds are ready to use in minutes. Do I need to verify my ID? Yes, in compliance with Australian regulations, all users complete a quick identity verification. Most verifications are approved within minutes, so you can get started fast. [See the live BNB chart first →](/buy/bnb/#price) About the author The Digital Surge Editorial Team Our editorial team writes and reviews Digital Surge's crypto and finance guides, pairing plain-English explanations with the practical experience of running an [Australian cryptocurrency exchange](/about-us/). We keep every guide accurate, current and easy to act on. [Read our editorial guidelines ›](/editorial-guidelines/) 400+ Cryptocurrencies & Counting ## What Other Tokens Can I Buy? Digital Surge lists more than 400 cryptocurrencies alongside Binance Coin. A few related coins to explore: [Guide Bitcoin (BTC) The world's first and most widely adopted cryptocurrency. Read the guide →](/how-to-buy-bitcoin/)[Guide Ethereum (ETH) A global platform for decentralised apps and smart contracts. Read the guide →](/how-to-buy-ethereum/)[Guide XRP (XRP) Fast, low-cost digital payments for global transactions. Read the guide →](/how-to-buy-xrp/)[Guide Solana (SOL) High-speed blockchain built for scalable decentralised apps. Read the guide →](/how-to-buy-solana/)[Guide TRON (TRX) A blockchain platform for decentralised content and apps. Read the guide →](/how-to-buy-tron/) ## Ready to buy Binance Coin? --- *Source: [How to Buy Binance Coin (BNB) in Australia](/how-to-buy-binance-coin/) · Last updated: 2026-07-09*