1 Our Service
These Terms and Conditions of Use (Terms) form a binding legal agreement between the customer (you, your) and InvestbyBit Pty Ltd (ABN 98 621 652 579), trading as Binance Lite (binancelite.com, we, us, our).
Binance Lite is a service that facilitates the purchase of Digital Currency (i.e. bitcoin) by placing an order via our website, www.binancelite.com (Website), and exchanging cash for Digital Currency at participating Blueshyft outlets (Services). By placing an order to purchase Digital Currency on the Website (Order), you agree to be bound by these Terms, which govern all aspects of the provision of the Services. These Terms may be amended at any stage. The current Terms are published on the Website.
An Order may, at our discretion, be refused for any reason and at any stage of the ordering process. By agreeing to these Terms, you hereby agree to release and indemnify us in the exercise of that discretion.
2 Risks of Purchasing and Holding Bitcoin
Crypto is a high risk asset which requires a heightened level of security precautions by the user. The cryptocurrency market is generally more volatile than traditional financial markets and, as a market that operates 24/7, your assets are constantly appreciating or depreciating in value. This can result in significant gains to your assets, but also significant losses. Since the purchase of cryptocurrency is not akin to purchasing other currencies, where a legal entity such as a government backs the currency, there is no legal entity that regulates cryptocurrencies. Rather, cryptocurrencies rely on blockchain technology to safeguard your assets and their movements. In the event of a crisis, there is no entity that will protect the cryptocurrency market to minimise investor losses. You should analyse your risk preferences and financial situation carefully before purchasing cryptocurrency.
3 Purchasing Digital Currency
When you provide us with the public wallet address where you want to receive your Digital Currency, you are responsible for ensuring that this address is correct. If you mistype or provide us with the wrong public wallet address and you have paid for the Order, we cannot recover the Digital Currency that is subsequently sent out. If you are receiving the Digital Currency to a personal wallet address rather than an exchange, you are responsible for ensuring that you have the private keys stored safely. In the event that your phone is lost, broken or otherwise compromised, we cannot restore or refund the Digital Currency you have purchased.
As part of our verification process, your phone number must be verified using SMS authentication. Once your Order has been placed, you have ninety (90) minutes to make the purchase in Australian Dollars via an over-the-counter cash deposit at a participating newsagent. If 90 minutes has passed since the Order was placed and a cash deposit has not been made, the Order will lapse and a new Order will need to be created to make a purchase.
The Order is not obligated to be fulfilled by us if payment has not been received within the specified time.
If a cash deposit in Australian Dollars has been received for an Order and we opt to cancel the Order, the cash deposit will be refunded to the customer in the form of Australian Dollars.
Once you have made a successful cash deposit relating to an Order, the Digital Currency will be transferred to your nominated wallet. Your transaction reference number must be used as the transaction reference, and the receipt you receive from the cash deposit must be retained in the event that an issue arises.
The Services provided by Binance Lite involve a commission on each Order. The commission, as well as the GST, is included in the price and is displayed on the Order Summary page. Additional fees may apply where, for instance, the network is experiencing increased volume and higher miner fees will consequently be required to process the transaction. Any additional fees will be displayed on the Order Summary page.
After completing an Order, you will receive a tax invoice to your nominated email address that outlines the cash deposit amount (in Australian Dollars), the amount of Digital Currency purchased, the commission and GST and any additional fees (if applicable).
Binance Lite makes no representation that the Digital Currency you have purchased qualifies for any tax consequences you may be entitled to as a result of buying or selling Digital Currency.
5 Access to Services
In the event that our Services malfunction, become limited, restricted, or cease to operate, we are not obligated to notify you of these changes, though we will take reasonable steps to do so.
The integrity of our Services is of utmost importance to us, and though reasonable steps are taken to sustain the reliability of our Services, we make no representations, guaranties or warranties that:
(i) there will be operational stability, availability or continuation of our Services;
(ii) our Services will be uninterrupted, secure, reliable, timely, error-free or free from any virus, malware or any other digital attack;
(iii) our Services are safe from unauthorised access, fraud or any other illegal or suspicious activity;
(iv) no third party rights will be infringed as a result of your use of our Services;
(v) there will be any continuation of the agreement formed under these Terms.
The Website or Services may be discontinued at our discretion and both the Website or the Services may be inoperable at times due to:
(i) downtime and scheduled maintenance;
(ii) internet, network or server issues;
(iii) equipment failure, which includes the failure of third party systems;
(iv) a force majeure event.
In these Terms, a ‘force majeure event’ means any circumstance beyond our reasonable control, including a natural disaster, earthquake, fire, flood, riot, civil commotion, health epidemic, sabotage, act of public enemy, war, terrorism, revolution, telecommunications interruptions and third party supplier delays.
Nothing in these clauses limits, or is intended to limit, statutory guarantees to which you are entitled under statute, including the Australian Consumer Law.
6 Identity Verification
7 How We Handle Your Personal Information
(i) our related entities or bodies corporate;
(ii) identity verification providers, customer service platforms and payment facilitators;
(iii) legal advisers, professional advisers, insurers and financial institutions;
(iv) government, regulatory or law enforcement agencies;
We make no representations, warranties or guarantees about the Services we provide. To the maximum extent permitted by law, in no event does InvestbyBit Pty Ltd nor any of its directors, employees, agents or related bodies corporate accept liability for any direct, indirect, consequential or incidental loss, liability, damage, inconvenience, claim or additional expense which may be suffered as a result of:
(i) you providing us with a public wallet address that is not the intended wallet; or
(ii) your failure to provide a cash deposit within the specified time limit; or
(iii) price fluctuations of the Digital Currency; or
(iv) the unavailability of the Service.
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 Digital Currency from being credited to your exchange account.
Other than as expressly set out in these Terms, to the maximum extent permitted by law, we exclude all representations, conditions, terms and warranties in connection with the provision and marketing of our Services.
Where a failure to provide the Services in accordance with these Terms arises, or where there is negligence on our part in relation to the Services, to the maximum extent permitted by law, we limit our liability to repeating the provision of the Services or the cost of repeating the provision of the Services.
Our aggregate liability in connection with these Terms is limited to AUD$50, unless the liability pertains to a certain Order, in which case the liability will be limited to the amount of that Order (whichever is higher) for any liability, damages, expenses, loss or claim.
Applicable law, including the Australian Consumer Law, will limit our liability to the relevant remedies in the event that our liability cannot be excluded. These terms and conditions do not limit any of your possible rights as a consumer as set out by the Competition and Consumer Act 2010 (Cth), nor does this liability clause limit your rights under the Australian Consumer Law.
9 Intellectual Property
The intellectual property contained in the Website and our Services is owned by Binance Lite or our licensors. By using the Website and our Services, you do not acquire any rights to this intellectual property.
10 Ownership of Content Copyright and Trademarks
This Website and all content related to the Website is copyrighted and owned by InvestbyBit Pty Ltd or its affiliated companies. Unless indicated otherwise, expressly on the Website or under applicable copyright laws, you are authorised to view, play, print and download the content found on the Website for personal, informational, and non-commercial purposes only. Apart from the aforementioned reasons, except as permitted by applicable copyright laws, the content cannot be used for any other purposes, including but not limited to copying, modifying, distributing displaying, transmitting, reproducing, publishing, performing, licensing, transferring or selling any part of the content. You may not reuse the content without first obtaining our consent or the consent of our affiliated companies, whichever the content relates to. No trademark, copyright or other proprietary notices from the content found on the Website will be removed from the Website by you.
InvestbyBit Pty Ltd or our affiliated bodies corporate have exclusive ownership of and retain exclusive rights to all trademarks, logos, names and service marks (Marks) that appear on our Website and any products, and are protected by applicable trademark laws and treaties, whether registered or not. You may not use, copy, reproduce, republish, upload, post, transmit, distribute, or modify any of the Marks in any way, including in advertising or publicity pertaining to distribution of materials on the Website, without our prior written consent. Using the Marks on any other website, computer environment, or physical environment is prohibited, unless express consent has been given by us.
11 No Waiver
If either party, you or us, fails to act with respect to a breach by the other party, this does not waive any right to act in the case of subsequent or similar breaches.
These Terms, as well as our our rights and obligations under them, may be assigned by us, in whole or in part, to any person or business entity in a position to discharge them properly. Your rights or obligations under these Terms may not be assigned without our prior written consent.
13 Entire Agreement
These Terms and all documents referenced in these Terms comprise the entire agreement between you and us in relation to your use of the Services and Website and supersede all prior agreements between the parties.
14 Jurisdiction and Governing Law
All disputes are governed by the laws of Queensland, Australia. You submit to the non-exclusive jurisdiction of the courts exercising jurisdiction in that State.