Categories
Australia Binance Events

Binance Australia Host Meetup in Brisbane for International Women’s Day

In celebration of International Women’s day, the team from Binance Australia hosted an evening meetup and panel discussion in Brisbane last week.

The Precinct provided a great venue for the event and the room was full. Over 60 Binance users attended, the majority being women. Free drinks were offered to welcome the participants as well as sunflowers for the ladies. The event was also being streamed online, with an AMA session moderated by James Prosser.

Vicki from Binance handing out flowers

The meetup started with an introduction by Hannah Tan (Binance Australia Marketing), followed by a presentation by Imeleta Lia-Norris. She is the founder of Crypto Queens, a Facebook group dedicated to “helping and empowering women to build a digital empire using the crypto currency platform”. Sharing her personal experience, Imeleta showed that getting started with cryptos does not have to be scary or complicated.

Imeleta Lia-Norris from Crypto Queens

Opportunities for Women in Bitcoin and Crypto

After a short break, Hannah Tan facilitated a discussion titled “Opportunities for Women in Bitcoin and Crypto”. Three ladies involved in the crypto industry joined her in the panel: Imeleta Lia-Norris, Danielle Marie (Creator of She’s Blockchain Savy) and Chloe Fitzgerald (Senior Communication Manager at Elevate Communication).

The panel discussed crypto and blockchain use cases, highlighting the potential for driving women’s economic empowerment worldwide – enabling women to access financial services, manage payments and keep business and personal records.

Danielle Marie speaking at the Q&A session

A Q&A session open to the audience wrapped up the night. It was great to see so much interest and enthusiasm for cryptocurrencies. Blockchain technologies are not meant to be a male-only field and events like this are a great reminder.

Categories
Binance Crypto News

Binance CEO dismisses report of CFTC probe as “FUD”

The largest cryptocurrency exchange, Binance, is allegedly under investigation by the United States Commodity Futures Trading Commission (CFTC), according to a Friday report by Bloomberg, which cited anonymous sources familiar with the matter. The Binance Coin (BNB) has been struck by news, as it’s down by 12 percent, with a market price around US$269, during press time. 

However, the CEO of Binance, Changpeng Zhao, has shrugged off the news as FUD (Fear, Uncertainty, and Doubt).

CFTC probes Binance over trading activities

As Bloomberg reported, the US regulator is investigating Binance to know whether the exchange allowed residents from the country to trade derivative products on its platform. Note-worthily, the cryptocurrency exchange isn’t registered with the US authorities, and so, it’s not permitted for US investors and traders to buy and sell derivative products related to digital currencies. 

The CFTC, in particular, considers cryptocurrencies like Bitcoin as a commodity. Hence, exchanges offering related products to US residents must face strict regulations to ensure customer protection and oversight demands. Binance had stated that it doesn’t comment on its communications with regulators. However, it’s unarguable that the exchange has severally warned and blocked US residents from using its main website. 

“We take a collaborative approach in working with regulators around the world, and we take our compliance obligations very seriously” Binance noted in a statement.

CZ says it’s all FUD

The CEO of the largest exchange seems unbothered by the circulating rumor. In fact, he dismissed the news as being FUD on Twitter. 

Meanwhile, the development today is coming just a day after the exchange appointed a former US senator, Max Baucus, as an advisor to assist them in meeting regulatory requirements with the United States authorities.

Categories
Australia Binance Tokens

Aussies Looking to Hold $AVA as Binance Australia Adds Three New Coins

Binance Australia will now allow Aussies to trade three new bullish tokens in its platform: XLM, AVA, and ATOM. Trading will go live on March 10, at 10:00 Sydney time.

These three coins experienced considerable growth in the crypto market since January, up to 10-15% in price, and 24h trading volumes reaching levels of 80%.

Aussies Looking to Hold $AVA

The community seemed excited to trade these three tokens, especially AVA, the native asset of Binance-backed Travala, one of the first blockchain-based travel agencies. The company implemented this blockchain technology along with crypto-payments in 2017.

Since the COVID-19 outbreak started, the travel industry suffered approximately 42% (nearly $500 billion) in losses, according to the U.S. Travel Association. But Travala has provided a blockchain infrastructure and support for crypto-payments for a while, helping the company avoid the effects of the pandemic and attracting crypto enthusiasts.

It’s worth noting that Travala recently allowed support for payments in LINK (Chainlink’s token).

Likewise, XLM, the native token of the open-source DeFi protocol Stellar, also experienced positive growth in January this year. And 24h trading volumes nearly reaching 30%.

On the other hand, ATOM, the native asset from the interoperable blockchain ecosystem Cosmos Network, has also seen positive community support. The platform reached January this year with a market cap of over $4,500,000, and trading volumes are currently 30% up in the last 24 hours.

Categories
Australia Binance

Binance Achieves Record Growth in Australia, Dominating AUD Trading Volumes

Binance Australia has achieved record milestones in the past year and into 2021 – seeing tremendous growth in user base as well as trading volumes.

Binance Dominating Exchanges for AUD Trading

Binance Australia is currently the leading exchange in the country, topping BTC and ETH markets for 24-hour trading volumes.

As shown below, the platform outranked other exchanges, including closest rivals BTC Markets and Independent Reserve, with a BTC/AUD 24 hours trading volume at over AU$51 million.

Binance Crypto Users are Growing in Australia

It’s not only trading volumes that are increasing for Binance – the number of users and adoption have reached outstanding numbers in the last weeks.

Also it’s not only the number of individuals that are growing – Binance Australia also saw over 400% in corporate and SMSF users compared to the previous quarter, end of 2020.

Educating Aussies With Binance Masterclasses

As the crypto demand in Australia grows, so does the need for crypto education. Every day, more Aussies are keen to learn about cryptocurrencies and how they work.

Binance meets those needs by educating Aussies with a free online course, called “Binance Masterclass” —a series of free online educational videos for anyone interested in the world of crypto.

Getting Started with Binance

If you’re interested in finding out more about Binance Australia, you can read our review here. And if you’re looking to open an account you can checkout the how to get started guide.

Categories
Binance How-to

How to Deposit AUD into Binance Australia via PayID/Osko

Use these instructions below to deposit AUD into your Binance account. You can deposit AUD either using your computer or mobile app.

If you don’t have a Binance account, you can register one for free in just a few minutes.

Click on the images to make them bigger.

Deposit using your Computer

Log into your Binance account and click the “Deposit AUD” button.

Click the “Fiat” tab and then select PayID/Osko, enter your deposit amount and click “Continue”.

Follow the PayId instructions (shown on the right) using your mobile phone banking app.

For example if you’re a CBA customer you would do the following:

  1. Open the CommBank mobile app.
  2. Select “Pay someone”.
  3. Tap the + icon (top right).
  4. Select “show more”, then select “email address”.
  5. Enter the PayId as an email address (ie [email protected]).
  6. Enter the amount (ie $50).
  7. Enter description (ie Binance).
  8. Click “send”.

When your deposit has been cleared by your bank it will show in the AUD Fiat Balances area on the Fiat and Spot page.

If you have paid money to this account before, the payment will appear in less than a minute. First time payments to a new payee may be delayed for up to 24 hours as a security measure.

Deposit using your Mobile App

To deposit AUD using your mobile simply download the Binance Mobile App and login. Then select “Deposit AUD”.

Enter your deposit amount and click “Continue”. Then copy the PayId email address shown (ie [email protected]).

Open your mobile banking app, select “pay someone” and enter the email address shown on the Binance app (paste the email by holding down your finger down in the email address input field, then select “paste”).

Enter the same amount you entered into the Binance app. Description can be “binance”.

When your deposit has been cleared by your bank it will show in the Wallets page in the App.

If you have paid money to this account before, the payment will appear in less than a minute. First time payments to a new payee may be delayed for up to 24 hours as a security measure.

Need Help?

Please note that this is for Australian Binance customers only. If your account was registered overseas, you’ll have to open a support request to change it to Australia.

Categories
Binance Crypto Exchange Cryptocurrencies

1Inch Expands To Binance Smart Chain, Citing High ETH GAS Fees

One of the top Decentralized Exchange  (DEX) Aggregators, 1inch has expanded to Binance Smart Chain in an effort to expand their services. Anton Bukov – the CTO of 1inch – has stated that the reason for this is that “Ethereum miners killed the Ethereum network by not raising the block gas limit.”

A Bridge Between Two Networks

1Inch launched in 2019 and has facilitated countless trading orders, looking for better exchange rates across multiple exchanges. However, due to the recent increase in ETH fees, the company has decided to give users a new way to trade – and BSC’s protocol allows for 10 times more gas per minute.

The company also stated that Binance Smart Chain will be used as a bridge between the two blockchain favored by DeFi hotshots worldwide.

“The 1INCH token on Binance Smart Chain will be used for a bridge between the Binance and Ethereum networks. 1inch users will get access to PancakeSwap, BurgerSwap, StreetSwap, Venus, StableSwap, JulSwap, BakerySwap and other Binance-based DEXes and lending protocols.”

Anton Bukov stated that although the integration was paid out of pocket, Binance did participate in 1inch’s seed round that took place in August.

1Inch aren’t the only blockchain-based firms looking for alternative solutions – it turns out the current issues surrounding GAS prices and the like have convinced a few firms to at least look for alternatives, whether on Binance Smart Chain, Compound Chain and others.

It’s worth noting that the increase in GAS fees isn’t something new – but the problem has been exacerbated in recent months. With a bit of luck, 1inch’s expansion into BSC will be some sort of catalyst for a process that results in further diversification of DeFi and crypto options – instead of following the current one-size-fits-all approach.

Categories
Binance Binance Coin Crypto News Ethereum

High Ethereum Transaction Fees Are Fueling Binance Chain Growth

It’s probably no longer news that the transaction count on Ethereum has been growing extensively since the last quarter of 2020. This is also not different from the first quarter of 2021. In fact, more transactions have been settled on the network this quarter alone, when compared to the record in Q4 of last year. 

The increasing number of transactions on Ethereum explains why the network fees have been surging incredibly. 

Messari Forecasts Ethereum Might Settle US$1.6 Trillion in Q1 2021

Ryan Watkins, a researcher at Messari, recently shared data from the crypto-analysis platform, which charted out that the transaction volume of the Ethereum network increases with every proceeding quarter of the year. Already, about US$926 billion transactions have been settled on the network since Q1 2020. In the previous quarter, only US$577 billion was settled on the network and a total of US$2.1 trillion in the whole of 2020. 

One can easily say that Ethereum will surpass last year’s transaction volume quickly, following the record seen so far. More like a prediction, Messari also stated that the transaction volume is on pace to reach $1.6 trillion this quarter. That will be a milestone for the network; however, the growing rate of activities is, unfortunately, forcing many users out of the network due to high transaction fees. 

Ethereum is Becoming More Expensive to use

Since recent months, many Ethereum users have complained of the high transaction fees of the network, which is due to the congestion. This is no longer funny, and the users are left with no other option than to switch to other alternatives. Evidently, the number of transactions on the Binance Smart Chain recently went up as some Ethereum projects and users began joining the network.

On February 24, Binance Smart Chain recorded over 2.6 million transactions, while Ethereum saw as low as 1.28 million transactions. 

Categories
Australia Binance Crypto News

Binance Australia Tops BTC Market in Bitcoin and Ether 24-Hour Volume

Binance Australia sees an increase in digital currency trading volume just as the rate of cryptocurrency awareness and adoption is rapidly growing in the country. On Wednesday, the CEO of the exchange, Jeff Yew, tweeted that Binance AU dominates other leading Australian exchanges in the 24 hours trading volume for Bitcoin (BTC) and Ether (ETH).

For some people, the development today might come as no surprise, as Binance Australia has been recording massive growth in new users lately.

Binance Records More Trading Volume for BTC and ETH

Yew tweeted the data from CryptoCompare, showing Binance Australia’s BTC/AUD 24 hours trading volume at AU$51.879 million. At the same time, BTC Market saw around AU$50.792 million, followed by Independent Reserve with AU$36.650 million. On the ETH/AUD market, Binance Australia also dominated the 24 hours volume with a total amount of AU$20.532 million. 

BTC Market recorded AU$15.124 million, while Independent Reserve had AU$12.868 million. 

The trading volume on Binance Australia is likely to rise continuously, given the adoption and number of users trading on the platform have been increasing massively, as confirmed by the CEO. Earlier this year, Crypto News Australia reported that the exchange witnessed a more than 400 percent increase in the number of SMSF and corporate users within the last quarter of 2020. 

During the rush in the crypto market in January 2021, Binance AU recorded as much as AU$130 million in 24hr volume across all the AUD pairs listed on its platform.

Crypto Adoption is Rising in Australia

It’s also worth noting that Binance is not the only exchange in Australia, seeing massive growth in its user base. In January also, the Swyftx exchange reported unprecedented growth in the number of users on its platform. The increasing user base of Aussie exchanges is indicative of the growing interest in cryptocurrencies amongst Australians.

Categories
Australia Binance Crypto News

Binance Enable Australians to Buy Polkadot, Cardano, and PancakeSwap with AUD

Amid the growing interest in digital currencies, Binance Australia, one of the largest Aussie cryptocurrency exchanges, has announced that it will list three more cryptocurrencies on its trading platform. The digital currencies mentioned in the tweet on Monday include Polkadot (DOT), Cardano (ADA), and PancakeSwap token (CAKE), which is based on the Binance Smart Chain.

Binance Australia could be listing these cryptocurrencies due to the increase in demand. Notably, these cryptos posted a moderate increase in the market value last week.

Buy Cardano on Binance Australia From Tuesday

Per the announcement on Twitter, the Polkadot, Cardano, and PancakeSwap cryptocurrency will be listed on the exchange on February 23. So, starting Tuesday at precisely 10:00 AM Sydney time, Australians on the platform will be able to buy and sell the cryptocurrencies right from the exchange using their AUD balance. 

Binance Australia allows Australian dollar deposits via PayID/OSKO today.

At the time of writing, the Polkadot crypto was traded at AU$44.65, while Cardano and PancakeSwap token traded at AU$$1.25 and AU$18.95, respectively, as per the Crypto News Australia coin price tracker. Concerning the BSC-based PancakeSwap token, it’s either Australians are so much interested in the cryptocurrency, or the Aussie exchanges are optimistic about it.

Swyftx Also Listed PancakeSwap

Binance Australia’s announcement for PancakeSwap comes about three days after Swyftx, another popular exchange in Australia, announced it was also listing CAKE on its platform. Swyftx listed the CAKE token alongside DODO, the native cryptocurrency of DODO decentralized exchange (DEX).

DODO is ranked among the 100th largest digital currencies. The DeFi token has a market capitalization of $531,954,155 from a circulating supply of 97,556,928 DODO. At press time, the cryptocurrency was trading at $5.61.

Categories
Australia Binance Binance Coin Crypto News Swyftx

Swyftx Exchange to List BSC DODO and PancakeSwap Token

It’s been an impressive week for the Binance ecosystem. Starting with the Binance Coin (BNB), the-now third-largest cryptocurrency caught many people by surprise following the massive increase in the price to slightly over US$300 during the time of writing. On that value, the BNB coin had a market capitalization of over US$46 billion. 

Following the boom in Binance Smart Chain (BSC) also, one of the leading cryptocurrency exchanges in Australia, Swyftx, has announced plans to list the native digital currency of two projects running on the BSC.

Swyftx to List PancakeSwap and DODO token

As the crypto exchange tweeted on Friday, it’s set to launch the native cryptocurrency of PancakeSwap (CAKE) and DODO (DODO) on its platform, extending support for the Binance ecosystem to Australia. The exchange didn’t mention any trading pairs for the cryptocurrencies. However, once they are listed, the users will be able to purchase and sell these cryptocurrencies right from the Swyftx exchange. 

The CAKE and DODO tokens are also seeing an increase in market value. During the time of writing, the CAKE token was trading at the value of US$17.47 on Coinmarketcap. CAKE has a circulating supply of over 119 million and a market capitalization of $2.079 billion. At the same time, the DODO token was trading at $US5.94, which represents over a 28 percent increase on a 24-hour count. It has a circulating supply of 95,459,184 DODO and a US$567 million market cap.

What’s With Binance Smart Chain 

The boom in BSC is coming as the transaction fee on the Ethereum blockchain is hitting the roof. Many people are diverting to BSC due to the low transaction cost, for instance, DODO. Interestingly, the Binance Smart Chain now records more transactions than Ethereum, which is considered a major flippening.