1,200 Newsstands in Australia are Selling Bitcoin,Ethereum
Cryptocurrencies have become even easier to purchase in Australia. Now, digital currencies can be bought from newsstands. Local media revealed that a total of 1,200 Australian newsstands have started to sell bitcoin and Ethereum.
Bitcoin and Ethereum can be purchased from newsstands
Of course, this is good news for the two famous cryptocurrencies. The possibility to purchase cryptocurrencies from newsstands In Australia has become a reality due to a partnership between cryptocurrency exchange Bitcoin Australia and a payments provider, Blueshyft. The newsstands that will be equipped to resell the two cryptocurrencies will be found all over the country, so the service will become available to all Australians.
Local media also reported that there will be a minimum purchase, of $50. Customers will also need a phone number and an email address to be able to purchase the cryptocurrencies. Of course, they will also need to download a digital wallet. The only thing left to do is to scan a QR code that will be provided to the user by the newsstand, and the transaction will be completed at a 5% fee. Users will most likely be able to see the transaction in their wallets in less than 20 minutes.
The fact that this move was going to be implemented was revealed by the chief executive of Bitcoin Australia, Rupert Hackett, who said in an interview with Finance 9 that the main challenge was gaining the trust of customers.
“When your product is totally digital it can be hard to gain trust from consumers because there’s no tangible product being handed over. Using newsagents provides consumers with a convenient and trusted way for investors to buy cryptocurrency.”
Hackett also revealed the reason why he decided to integrate Ethereum alongside bitcoin:
“Traditionally, the only people who knew about Ethereum or wanted to buy it were those who already had bought Bitcoin. 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.”
