FAQs
Everything you need to know about the product or invoicing.
What is Binamite?
Binamite is a flexible payment solution that lets a payer use their crypto or fiat to send money, and the payee can receive it in fiat, crypto or a mix of both, all facilitated by the invoicing feature.
Why do I have to complete a KYC?
KYC is mandatory for payments using cryptocurrency and cryptocurrency withdrawals due to compliance requirements. Only upon completing the KYC will you be able to receive crypto in your wallet.
What is needed for KYC?
KYC to use Binamite is very simple. Just verify your phone, have one Identification document handy to upload, followed by a selfie verification. That’s it!
How to use Binamite?
Binamite can be used by freelancers/contractors/payees and clients/businesses/payers by signing up as per their requirements. Upon coming to the sign up page, you will be asked to choose the type of account to set up and you can proceed accordingly.
How can I get paid?
To get paid, you can “Create Invoice” from your dashboard or the invoices tab. While creating the invoice, you can choose the mix of crypto/fiat that you wish to receive payments in.
After the invoice is paid, the relevant crypto/fiat balance will reflect on your Binamite account. You can then withdraw your funds into your crypto wallet and/or bank account through the payouts tab.
How can I withdraw funds to my bank account?
To withdraw funds, head to the Payout section on your Binamite account. Here, you can see two tabs, one for crypto payout and another for local bank payout. Add your wallet and bank details to get paid out accordingly.
Why is my balance denominated in USD?
In the process of getting paid, your funds may be crossing borders and currencies. Hence, to maintain uniformity all amounts are denominated in dollars. Rest assured, during bank payout you shall receive funds in your local currency.
What crypto currencies are supported?
Currently, we support Bitcoin, Ethereum, USD Coin and USD Tether.
What countries are supported?
Payments from and payments to most countries are supported by Binamite.
Why can’t I see my crypto wallet address?
Crypto wallet addresses will be revealed after the user has completed the KYC. Head to your profile section to get verified in a few simple steps.
Which countries are supported by Binamite?
Binamite is supported in all non-sanctioned countries. Payout methods may vary by country.