Terms of Use/Agreement

Terms of Use and Agreement for Selling Bitcoin through FIFO Bitcoin with McLeod Pacific Investments Pty Ltd.

These terms and conditions (Terms) form a binding legal agreement between the customer (you, your) and McLeod Pacific Investments Pty Ltd. (ABN 36631029180 – AUSTRAC DCE# DCE100595585-001) trading under LocalBitcoins.com trading handle Bitcoin_Cam (we, us, our). Please read through these Terms and Conditions thoroughly:

  1. Our Service
    • We Buy Bitcoin and provide buyer’s agency services (Services), to allow you to quickly and easily sell bitcoin at a fair rate, through the trading platform localbitcoins.com (Website).
    • By sending us a trade request on the Website, you agree to be bound by these Terms, which govern all aspects of our trade with you (Trade).
    • These Terms only apply to your selling bitcoin through us through the Website. We do not control the Website and may also be subject to other terms and conditions imposed by the operator of the Website.
    • How trading with us works

2. How trading with us works

2.1 By sending us a trade request on the Website, you are requesting to use our Services.

2.2 The price quoted in our advertisements is a total price which includes our Commission (see section 5 below for more detail on our Commission).

2.3 Once you have sent us a trade request, we will confirm the amount and price of the bitcoin we are buying from you for the Trade

2.4 Once you have sent us a trade request, the Website will automatically confirm that your localbitcoins wallet contains at least the amount of bitcoin for the trade and will hold this amount in escrow as a security deposit.

2.5 We offer a number of different payment methods through which to pay you (see section 3 for more details):

a) cash deposit over-the-counter at your selected banking institution;

b) electronic funds transfer from our account to any other Australian bank.

2.6 Once you have confirmed your preferred method of payment and verified your identity (see section 3), you will provide us your bank account details.

2.7 You must follow the procedures in section 3 exactly in order for us to pay you for the  Trade.

2.8 We reserve the right to reject your Trade if you:

a) do not follow the payment and identification procedure in section 3 exactly.

b) use a TOR/VPN service;

c) attempt to have us pay a third party for your trade without prior approval.

2.9 If we reject your trade under clause 2.8, we will cancel the trade upon advisement and the Bitcoin held in escrow by the website will be refund back to your website wallet.

2.10 After we have completed the payment for your Trade, we must mark you’re the trade as paid, through the Website. We must also supply a screen shot of the transfer to you via the website.

2.11 Once you receive confirmation from your selected banking institution that you have been paid for your Trade, you must immediately release the bitcoin from the website escrow facility to us.

  1. Payment methods and ID

3.1 We must make payment to you as per the timelines for the following payment methods:

  1. Cash Deposit – 3 hours. This can also vary depending on the day which you open the trade with us, the time and also your selected banking institution.
  2. Electronic funds transfer from our account to any other Australian bank – 1.5 Hours.

3.2 All new traders will be asked in the website trade chat window to upload the following KYC requirements:

a) upload a copy of a current Australian ID document showing your name and photo (passport or drivers licence)

b) provide your Australian mobile phone number (current and working).

c) provide your e-mail address (current and working).

3.3 In addition, if you have requested to pay by electronic funds transfer from any bank to a company that you own, we need to see supporting company association documentation.

3.4 We may relax or waive these verification requirements for repeat customers.

  1. Appointment as your agent

4.1 You appoint us as your agent for the sole purpose of us acquiring bitcoin from you for the purposes of the Trade.

4.2 You direct and authorize us to pay you for the relevant amount of bitcoin set out in the Trade:

4.3 The price quoted in our advertisements is based on the current average price across the various bitcoin exchanges and our commission is also added to this.

4.4 Our authority and responsibility as agent is limited to acquiring the bitcoin from you under the Trade.

4.6 We retain full discretion to choose as to whether we acquire the bitcoin from you for the Trade.

4.7 We confirm and warrant that we do not act as agent for any bitcoin exchange or bitcoin seller or accept any commission or other form or remuneration from any bitcoin exchange or bitcoin seller in the process of buying bitcoin from you.

  1. Our Fees

5.1 We charge you a fee (Commission) which is a fixed percentage of the Bitcon value of your Trade, which you must pay at the same time as payment for your Trade.

5.2 Our rate will be confirmed before you are required to pay for your Trade.

5.3 Immediately upon completing the Trade, we will provide you with a tax invoice which specifies the amount of bitcoin we have acquired and the total amount you have been paid for the Trade.

  1. Your personal information

6.1 We reserve the right to require you to confirm your identity before fulfilling your Trade.

6.2 We will only collect and use your personal information in order to confirm your identity, and we will not use your personal information for any other purpose. We may store your personal information in a secure encrypted form for our records.

6.3 We will never disclose your personal information to any third parties (apart from our employees, officers and related entities) unless required to do so by law.

6.4 For more information, please see our Privacy Policy.

  1. Limitation of liability

7.1 Apart from the matters set out in these Terms, we do not control any aspect of the Website that the trade takes place on and we are not responsible for any loss you suffer including but not limited to:

  1. a) any problems with the Website including loss of control of your bitcoin wallet or account with the Website for any reason.
  2. b) Disclosure of your selected banking institution details to anyone else but us via the website
  1. Representations

8.1 If you agree to these Terms you represent to us that you:

  1. a) are 18 years old or older; and
  2. b) are capable of entering into a legally binding agreement.

8.2 You also represent and warrant that:

  1. a) all information you have provided to us is correct and current;
  2. b) you have the power and authority necessary to enter into the agreement formed under these Terms and to perform the acts required under these Terms; and
  3. c) you have complied and will continue to comply with all applicable laws, statutes, ordinances, and regulations (including without limitation anti-spam laws and any relevant data protection or privacy laws).
  1. Local Laws

9.1 These Terms will not be excluded to the extent that such exclusion is prohibited by the laws of the jurisdiction where you reside and where those laws confer rights and remedies and imply terms into these Terms that cannot be excluded.

9.2 If a jurisdiction does not allow an exclusion or limitation of liability, but allows a limitation to a certain maximum extent, then our liability is limited to that extent.

9.3 If any provision in these Terms is invalid under any law the provision will be limited, narrowed, construed, or altered as necessary to render it valid but only to the extent necessary to achieve validity.

9.4 If necessary, the invalid provision will be deleted from these Terms and the remaining provisions will remain in full force and effect.

  1. Validity

10.1 If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, that provision will be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions.

  1. No Waiver

11.1 A failure by us to act with respect to a breach by you or any third party does not waive our right to act with respect to subsequent or similar breaches.

  1. Entire agreement

12.1 This Agreement and all documents referenced in this Agreement comprise the entire agreement between you and us in relation to your use of our Services and supersede all prior agreements between the parties.

  1. Governing Law

13.1 The laws of Queensland govern any agreement formed under these Terms and the parties irrevocably submit to the jurisdiction of the courts of that State.

FIFO Bitcoin Terms of Use/Agreement for use of FIFObitcoin.com.au for non-trading purposes

Website Terms & Conditions

Welcome to FIFO Bitcoin, a website owned by McLeod Pacific Investments Pty ltd (herein referred to as MPI).

Once you continue to browse and use this website outside of Buying and Selling Bitcoin, you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy and terms of trade govern our relationship with you in relation to this website. If you disagree with any part of these terms and conditions, please do not use our website.

The use of this website is subject to the following terms and conditions:

The content of the pages of this website is for your general information and use only. It is subject to change without notice.


The information contained in this website has been prepared for general information only and does not contain and is not to be taken as containing any securities advice or securities recommendation. MPI are not a registered securities firm nor are we registered to offer financial advice. It is not intended that the Information be relied on by recipients for the purpose of making investment decisions. McLeod Pacific does not give any warranty as to the accuracy, reliability, or completeness of the Information and accepts no respnsibility for updating or correcting any part of the Information.

MPI and its associates do not accept any liability (whether arising in contract, or tort, or negligence or otherwise) for any error, omission or misrepresentation in relation to the Information or for any loss, damage, cost or expense (whether direct, indirect, consequential or otherwise) incurred by any person whatsoever arising out of or referable to the Information on this website or accessed through this website.

Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.


MPI is the sole owner of all information collected on this website. You acknowledge and consent that any information provided to MPI in connection with the use of this website may be used by MPI for its own purposes, including but not limited to marketing purposes, planning, product development and research purposes. MPI may release this Information to third parties if required under any applicable law. Please read through our Privacy Policy for more information.

Links – Including Buy Bitcoin

This website contains links to other websites including our payment partners. MPI does not accept any liability for the availability of, or any content or material contained in or obtained through such websites or for the privacy practices of such websites.


Your use of this website and any dispute arising out of such use of the website is subject to the laws of Queensland, Australia.