Binance Lite Australia: Buy Bitcoin with Cash in over 1,300 Stores

The cryptocurrency exchange Binance has unveiled a new platform in Australia that allows users to buy Bitcoin in large stores with cash.

Following the news announcement on Tuesday, Binance said the new gateway, called Binance Lite Australia, was a bar-to-bitcoin brokerage brokerage service accessible through a network of over 1,300 supported stores across the country.

The platform currently offers the option to only buy Bitcoin with Australian dollars (AUD), but the exchange said it intends to support more cryptocurrencies and fiat options in the future.

Once users have completed an account verification process, they can place an order to purchase Bitcoin online, deposit cash at the nearest store, and receive crypto ” within minutes, ” the announcement said.

Binance Lite Australia charges a 5 percent transaction fee for Bitcoin purchased through the service.

Wei Zhou, Binance’s CFO, said the new platform would further expand the adoption of the cryptocurrency ” by providing easier ways to buy Bitcoin. ” He added that the exchange will feature more fiat-to-cryptocurrency gateways around the world in the future.

Binance has expanded its business rapidly around the world. In January, a fiat-to-crypto exchange was launched on the island of Jersey, a British self-government addiction that allows users to exchange Bitcoin and Ethereum for the British pound and the euro. Last June, the exchange also started an exchange between crypto and crypto in Uganda.

Recently, Binance and its official wallet, Trust Wallet, moved to allow users to purchase cryptocurrencies with credit cards through a partnership with Israel-based payment processor Simplex.

France-based crypto startup Keplerk also worked with local tobacco sellers in November to sell Bitcoin through its stores.

Binance Lite is a cash-to-bitcoin brokerage service where users can purchase bitcoin by depositing cash at a network of supported newsagents across Australia. Binance Lite is operated by InvestbyBit, an independently operated subsidiary of the cryptocurrency exchange.


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