Binance has officially entered Australia with the launch of the Binance Lite Australia Beta.
Binance Lite Australia allows anyone in Australia to exchange cash (AUD) for bitcoin (BTC) at a network of over 1,300 newsagents across the country.
What is Binance?
Binance is the world’s leading blockchain ecosystem comprised of a cryptocurrency exchange, startup incubator program, charity foundation, online education platform, and more.
Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions.
What is Binance Lite Australia?
Binance Lite Australia is a new cash-to-bitcoin brokerage service where users can purchase bitcoin by depositing cash at a network of supported newsagents across Australia. Unlike a complete exchange, users have the freedom to specify their preferred deposit destination. Binance Lite Australia does not hold custody of any bitcoin on behalf of the user, nor does it provide an option to trade or sell bitcoin.
Binance & South Australia Combine for Blockchain Innovation
The official announcement for Binance Lite Australia came Monday night from Binance CFO Wei Zhou at the country’s first international blockchain summit – ADC Global Blockchain Summit, held in Adelaide.
The Minister for Trade, Tourism, and Investment, The Hon. David Ridgway, voiced his support and excitement in welcoming Binance into Australia as part of the country’s blockchain transformation.
Zhou commented on the initiative:
It’s a really strategic and innovative move for the South Australian government to commit to supporting blockchain technology and start-ups working in the digital currency space. We want to see Australia become a blockchain continent.
With plans to transform South Australia into the country’s new blockchain capital, the Premier of South Australia, Steve Marshall, is leading the build of Lot 14, a government-funded tech hub set to become the area’s premier blockchain innovation space.
Simplifying Crypto Adoption
Using Binance Lite Australia, you can easily buy bitcoin with cash, load it directly onto a mobile wallet, like Wallet of Satoshi or Trust Wallet, and spend it at any of TravelbyBit's 200+ merchants, including the TravelbyBit online travel booking platform.
TravelbyBit CEO Caleb Yeoh said this:
At TravelbyBit, our mission is to help promote and grow the cryptocurrency ecosystem by making things simple, safe, and reliable for users. A service like Binance Lite Australia will make it easy for our users to top up their blockchain mobile wallets and spend at our cryptocurrency merchant network and services across Australia.
We’re constantly working to bridge the gap between traditional businesses and cutting-edge crypto transactions. Our cryptocurrency merchant network includes everything from coffee shops, bars, car washes, kayaking, helicopter rides, island tours, and much more. Everything you need to live day-to-day on Bitcoin (BTC), Litecoin (LTC), Binance Coin (BNB) and other cryptocurrencies is possible with TravelbyBit.
Lightning Network Adoption
TravelbyBit is among the first in the world to introduce Lightning Network payments into the retail space.
Launched in early 2018, the Lightning Network (LN) is a second-layer payment network built on Bitcoin that allows users to transact without having to wait for their payments to confirm on the main blockchain.
This method of bitcoin payment is instant, secure, and practically free, as it relies on the security of the Bitcoin blockchain without incurring any miner’s fee. Lightning Network payments have become the most popular payment choice since our network-wide integration in January 2019, and travellers from around the world are visiting Brisbane Airport to experience the technology.
Every Brisbane Airport transaction is displayed publicly on flybybit.com.
Click here to watch Daniel from Living Room of Satoshi pay for a coffee with bitcoin via the Lightning Network at Brisbane Airport.
We believe in the right to privacy and economic freedom for individuals. One of our goals at TravelbyBit is to facilitate genuine cryptocurrency adoption and enable our users to travel the world using cryptocurrency.
Cryptocurrency isn’t only alive and well in Australia… it’s on fire. With the world’s first digital currency friendly airport, beachside holiday towns, and retail merchants in every state in the country, we are proud to be part of the country’s move further into the digital economy of the future.
We’re a team of passionate travellers and digital currency enthusiasts who are encouraging the crypto community to travel with freedom around the world, starting with Queensland, Australia.
TravelbyBit is an online travel booking platform built for the blockchain generation. We help travellers and tourists experience the world using digital currencies like bitcoin. Book your flights and accommodation today and see where bitcoin can take you!
TravelbyBit also builds cryptocurrency tourist routes to enable anyone to spend digital currency at a growing network of retail, dining, service and travel merchants. Find a TravelbyBit merchant near you and make your mark on the blockchain today!