One Thousand Australian Newsagents Launch Ethereum and Bitcoin In-store Purchases

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You can now buy ethereum or bitcoin just by walking down to your corner shop in Australia with more than 1200 stores participating.

By simply scanning a QR code, the crypto can be in your wallet within minutes and all you need to provide is a phone number, an e-mail address and a minimum of $50.

“The fact that you can now buy Bitcoin and Ethereum from the same place you purchase soft drinks and stationery really speaks to how institutionalised cryptocurrency has become,” said Rupert Hackett, CEO of Bitcoin.com.au, before adding:

“For anyone who has hesitated about buying Bitcoin because it all seemed too complicated, this is the perfect setup that takes the fear factor out of investing in digital currencies.”

Bitcoin.com.au has just added ethereum today, offering 0% fees in celebration. They have been working since 2016 to set up physical points of sale, expanding considerably now to include bank branches and corner shops.

“Traditionally, the only people who knew about Ethereum or wanted to buy it were those who already had bought Bitcoin,” said Hackett.

“But now that cryptocurrency is more well-known we found that Ethereum’s cheaper price point made it a more digestible value proposition for buyers.”

Having a physical store might also make digital money more tangible, he said, as it provides “a convenient and trusted way for investors to buy cryptocurrency.”

Which could mean, if they grow in popularity, Western Union might be facing some competition as another crypto provider, CoinSpot, has also rolled out such purchases to more than a thousand newsagents.

It’s unclear whether they overlap, or whether like MoneyGram and Western Union they have different networks, but the infrastructure is clearly increasing in Australia.

The country has been promoting blockchain innovation and by extension cryptos, with their parliament removing double taxation.

So giving traditional and crypto businesses a green light, with Australia now declaring itself it is very much open for business.

 

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