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 independently operated by InvestbyBit Pty Ltd (ABN 98 621 652 579). InvestbyBit is an AUSTRAC registered digital currency exchange service provider. Unlike a full exchange, users have the freedom to specify their preferred deposit destination. Binance Lite does not hold custody of any bitcoin on behalf of the user, nor does it provide an option to sell bitcoin.
No, Binance Lite is not part of the Binance exchange. Binance Lite is independently operated by InvestbyBit Pty Ltd (ABN 98 621 652 579). We work in close partnership with Binance to allow users to purchase bitcoin with cash and directly send the bitcoin to any supported bitcoin address the user nominates.
No, Binance Lite is not a cryptocurrency exchange. We are a cash-to-bitcoin brokerage service where users can purchase bitcoin by depositing cash at a network of supported newsagents across Australia. Binance Lite does not offer services to help users store their coins, instead, we send your coins directly to your nominated wallet address.
Cryptocurrency is a high risk asset which requires a heightened level of security precautions by the user. You should carefully do your own research on the different methods of storing your bitcoin. We generally recommend storing your coins in a cold wallet and storing your private keys safely.

Important: It is your responsibility to ensure you are not sharing your private keys with anyone else and are storing them safely. 

For smaller amounts and the convenience of everyday use, we recommend the Wallet of Satoshi or Trust Wallet.
No, we do not support AUD withdrawals. You can only use Binance Lite to purchase bitcoin with cash.
At this stage, we only offer the option to purchase bitcoin (BTC).

As an introductory offer, we are charging a 2.5% transaction fee (50% discount applied) plus GST on the transaction fee for each purchase. There are no other transaction fees or hidden fees.

For example, for a $50 order, the transaction fee will be $1.22 and the GST will be 10% of the transaction fee, which is $0.12.

Yes, you can buy less than one bitcoin. A bitcoin is divisible up to 8 decimal places, hence, 0.00000001 BTC or 1 ’bit’ is the smallest transaction amount that can be handled by the bitcoin network. However, to make this service viable, the minimum purchase amount is set at AUD 50 worth of bitcoin, and the maximum purchase amount per transaction at AUD 2,500 worth of bitcoin.

During the Beta phase, the minimum purchase amount will be lowered to $30 and the maximum purchase amount will be capped at $1000.

You will find the price of one bitcoin displayed in the Australian Dollar equivalent at the top and bottom of the homepage, which is refreshed every minute. Our spot price is based on an average of the various rates provided by the top Australian exchanges. We charge a 2.5% commission on top of the spot rate, plus GST on the commission, for providing the service.
All wallets and exchanges set their rates differently. Therefore, there may be a slight discrepancy in the AUD/BTC conversion rate shown by us and the wallet you are using.

Also, many wallets have USD set as their default display currency, so make sure to change the currency display to AUD if this is an option.
Binance Lite supports the following bitcoin address formats:

Legacy addresses, which start with the number '1';
Segregated Witness (SegWit) addresses, which start with the number '3'; and
Bech32 addresses, which start with 'bc1'.

Please make sure that the wallet address provided is correct. Binance Lite will not be liable for funds sent to a wrong address which you have entered.
Your bitcoin wallet address is a string of numbers and letters used by others to send funds to you and looks something like this: “12XTtbb7A1B2Ni4VBRFybCSDDuBHoMkEiL”. Think of it as your account number that others can use to identify you. Depending on the wallet you are using, you can find your wallet address by navigating to the ‘receive’ section (or similar). If you are depositing directly to an exchange, you can find your wallet address by clicking the Bitcoin deposit button, usually found in your assets page.

Please make sure that you are absolutely certain that your wallet address is correct when entering it in the order screen. Once the purchase is made, the transaction is irreversible and cannot be refunded as the blockchain has no intermediaries overseeing and approving transactions. Therefore, it is impossible to reverse a transaction once it has been sent.
In most cases, yes. However, if you are providing a wallet address where the destination is an exchange account, the exchange's terms and conditions, and any other relevant policies, govern how and when the funds will be credited to your exchange account. We are not liable if the exchange decides to, for any reason, reverse, reject or otherwise prevent the bitcoin from being credited to your exchange account. For this reason, we recommend providing a wallet address to a wallet that you control when making an order. You can then send the bitcoin from your wallet to your exchange.
You hold the responsibility to ensure that the receiving bitcoin wallet address you have entered is correct. We will not be liable for funds which are sent to the wrong wallet addresses as a result of user error, glitches or viruses on the user’s computer or mobile devices. If you have accidentally opened an order with the wrong receiving bitcoin wallet address, please open a new order with the correct receiving wallet address, or simply ignore the order and let it expire.
While we process the payout instantly, our system will perform an internal security screening before sending out the bitcoin. After that, you can view the incoming transaction on any bitcoin block explorer to check on the status of the transfer.
While our service is open for users of any nationality, you must be physically in Australia to make the cash deposit in person at one of the newsagent stores in Australia. You will also need to have a valid Australian mobile number and successfully complete the verification process provided by our third party verification service provider before you can make a purchase.
We only accept payment in the form of a cash deposit at any of our supported newsagent stores in Australia.  You can locate your nearest newsagent store using the search tool at the bottom of the homepage.

During the Beta phase, the minimum purchase amount will be lowered to $30 and the maximum purchase amount will be capped $1000.

Please note that only multiples of $10 will be accepted, i.e. orders for $50, $60, $70. Orders for amounts such as $55 or $50.50 will not be accepted.

Payments will only be accepted if they are made by the same individual who initiated the order. You should never ask another person or help someone else to make the cash deposit. We reserve the right to void an order if we suspect that our service is being used fraudulently, in an unauthorised or illegal manner.
You can search for your nearest newsagent location here
Unfortunately, you may only make the cash deposit during the opening hours of the newsagent store you will be visiting. Please check your newsagent’s opening hours online beforehand to ensure it is open at the time you wish to make a purchase.
The BTC/AUD rate will be locked in from the time you open the order for 90 minutes. This is to increase the fairness of the trade by eliminating unwanted swings in volatility.

Your order will automatically expire after the payment window is up. There are no further actions needed as the order will be cancelled automatically. You will need to open a new order if you still wish to buy bitcoin.
A tax invoice will be generated that outlines the purchase amount, fees and GST on all completed orders. Please allow up to 30 minutes for a tax invoice to be emailed to your after you have completed your purchase.

If you have not received an emailed tax invoice within 30 minutes of your purchase, please contact us at customer support so that we can manually send you the tax invoice.
Unfortunately, refunds will not be accepted after the purchase has been completed and the bitcoin has been sent. Always make sure that you are absolutely certain that your wallet address is correct when entering it in the order screen. Once the purchase is made, the transaction is irreversible and cannot be refunded. This is because the blockchain has no intermediaries overseeing and approving transactions. Therefore, it is impossible to reverse a transaction once it has been sent.
If you are a first time customer, you will be required to perform a one-off Know Your Customer (KYC) document verification. The purpose of the verification procedure is to prevent our service from being used for money laundering or terrorist financing activities.

You will be prompted to follow the instructions to complete the verification after the order page.

If you are a returning customer who has previously completed KYC verification, you will be brought to the order summary page directly after opening a new order.
As part of a new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulation implemented from April 3, 2018, all customers purchasing digital currencies in Australia are required to complete a one-time identify verification with their digital currency provider. The purpose of the verification procedure is to prevent our service from being used for money laundering or terrorist financing activities.
To complete the identity verification process, you will need to submit up to 1—2 government issued ID document numbers (Passport, Driver’s Licence, or Medicare card), as well as your residential address. Your information will only be used for verification purposes and is only shared with our identity verification providers.
In most cases, just try again! This time, ensure the name and residential address you have entered matches exactly that of your government ID and records. However, there are strict regulatory restrictions in Australia that might render certain individuals unable to complete their KYC verification. This includes individuals listed on Politically Exposed Persons (PEP) and Counter Terrorism Financing (CTF) sanction list. Alternatively, you can contact us at customer support and our friendly staff will do their best to help.
Your account is linked to your mobile number. Please make sure that you are using the same mobile number you provided when you first completed your verification. If you are using a new mobile number, you will be required to complete the ID verification process again.

If you are certain that you are using the same number that you used to complete verification, please contact us here and provide us with your mobile number so that we can investigate this issue further.
In most circumstances, yes. As long as you are residing in or visiting Australia on a valid visa, you should not face any issues when completing the KYC check. However, you may have to have your name registered to a residential address or another official government record.

Please note that providing false information or using someone else’s identity is a serious offence and a breach of our terms of service. We reserve the right to void an order and terminate the user’s account if we suspect that our service is being used fraudulently in breach of our terms of service.


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