The crypto exchange Binance has launched a new platform that makes it possible to buy bitcoin with cash in over 1300 stores.
Binance Lite Australia – 1300 supported stores
The new service became known Tuesday this week and is called Binance Lite Australia. Simply explained, this is an exchange service set up by the crypto exchange, which offers Australians to buy bitcoin for Australian dollars.
Users register online via a verification process; after this, they can place purchase orders for bitcoin. Then this is paid in cash in one of the listed stores, and the bitcoin is received within minutes. Binance charges a 5% fee for the service.
Will open for more cryptocurrencies and new countries
Wei Zhou, CFO of Binance, says the new platform will provide for increased adoption of cryptocurrency by simplifying the buying process. The cryptic exchange will in future expand the offer to several common currencies and cryptocurrencies. The service will also be introduced in several places around the world.
More global services
Over the past year, Binance has taken several measures to spread cryptocurrency globally. In January, they opened a “fiat-to-crypto” exchange, which made it possible to trade bitcoin and ethereum through pounds and euros. A similar stock exchange was opened in Uganda in June last year.
The Crypto Exchange and its official Crypto Wallet, Trust Wallet, recently opened for a service that enables the purchase of cryptocurrency by credit card. This through a collaboration with the Israeli payment service Simplex.
Bitcoin is becoming increasingly available
Binance continues the global trend of simplifying bitcoin purchases.
New bitcoin ATMs are opened daily and there is an increasing number of players offering easy switching from regular currency to bitcoin. The expansions happen fast in the United States, and several thousand tobacco stores in France offer the purchase of bitcoin gift cards. Switzerland offers bitcoin purchases on all ticket machines for trains in the country.
It seems like it’s only a matter of time before mass adoption from users that like to trade bitcoin with automatic trading software like Bitcoin Loophole, start buying and holding these bitcoins to dump when they lose value.
It is a clear trend that bitcoin and cryptocurrency are made available in an increasing number of venues worldwide, both through existing solutions and new platforms.