Want to Buy BTC or ETH in Newsstands? Come to Australia

March 3, 2018

Australian cryptocurrency exchange Bitcoin.com.au has implemented the possibility for buying bitcoin and ethereum for fiat currency in more that 1,200 newsstands across the country. 

The exchange has been operating for a year and a half and claims to be "one of the first independent Bitcoin exchange networks in Australia", according to its website. CEO of Bitcoin.com.au Rupert Hackett believes that the implementation of the feature of buying popular cryptocurrencies in the familiar retail environment is the way to increase the general convenience for the people, who are engaged with digital currencies and for the ones who want to invest in them.

He said in an interview with a local news agency 9Finance:

"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 [...] 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."

The process of buying cryptocurrency in Australian newsstands is simple: consumers should create a cryptocurrency wallet first and then scan the QR code of their wallet with an iPad of a newsstand. The minimum buying amount set by the exchange is 50 Australian dollar ($39).

There were other steps taken in Australia in order to adopt cryptocurrencies in retail financial environment. For example, Australian Securities Exchange (ASX) announced in December that it would use blockchain technology to process securities transactions.

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