Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores

One of the largest cryptocurrency exchanges out there, Binance, has recently unveiled its platform in Australia that lets users buy Bitcoin with cash from many high-street stores. The cryptocurrency news was officially announced on Tuesday in a blog post published by the exchange.

In the official post, Binance announced the new gateway that is named Binance Lite Australia – and is designed as a cash-to-Bitcoin brokerage service that will be accessible in more than 1,300 newsagents and stores across the country.

Right now, the platform gives users the option to buy only Bitcoin using Australian dollars (AUD) but there are plans for more cryptocurrency and fiat support options in the future, as Binance unveiled.

The process of buying BTC from stores in Australia is simple – users need to carry out an account verification process and place an order to buy Bitcoin online. They could deposit cash at the nearest newsagent and receive crypto “within minutes” as the announcement unveiled.

When it comes to fees, there is a 5% transaction fee plus goods and services tax (GST) on all of the Bitcoin purchases. The CFO at Binance, Wei Zhou, commented on the new release, stating:

“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”

The account verification will occur on www.binancelite.com – and after that – users can deposit cash at the nearest Newsagent stores to receive crypto within minutes. Binance Lite Australia was designed as simple and easy to use and it sstate-of-the-art order processing technology guarantees maximum safety.

Binance recently integrated the credit card payments on Binance.com and launched the fiat-to-cryptocurrency exchange (January 2019) with zero deposit fees – becoming one of the lowest priced exchanges for trading with Euros, British pounds and BTC and ETH. The fiat gateways also included the Binance Uganda, another exchange which supports the trading of Ugandan Shillings for cryptocurrency.

“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,” Zhou concluded.