A new service in Australia now allows people to buy Bitcoin at more than 3,500 of their local post offices.
This ability to buy Bitcoin is the result of a collaboration between the postal authorities and Bitcoin.com.au, a cryptocurrency exchange.
The goal of this service is to increase mainstream BTC adoption in Australia, as well as having established businesses and organizations begin accepting cryptocurrency.
The service works in the following manner. First, people will have to place an order with Bitcoin.com.au for between AUS$5 and $50,000 in either ETH or BTC. This will then lead to the user being issued with a cryptocurrency wallet.
The user can then visit a local post office and buy virtual currency with either cash or through EFTPOS. The exchange notes that “it should only take a few minutes to see your coins in your wallet.”
It should be noted that users will need to provide the necessary identity information required by the law. The exchange will collect the information via Australia Post’s Digital ID service.
Bitcoin continues marching onward
This new service should help increase the exposure of Bitcoin, and cryptocurrency in general, to the public. Such exposure can then lead to greater adoption. A case in point is that Coca-Cola has 2,000 BTC-ready vending machines throughout Australia and New Zealand due to a partnership with Centrapay.
Bitcoin.com.au CEO Holger Arians said, “This is a major milestone for digital currency in Australia and around the world. It proves that there are established businesses and organization that want to learn about new technologies by doing, and not by blocking.”
He added, “Our mission is to make Bitcoin safe and easy for every Australian. For many people, paying for Bitcoin at an Australia Post office feels safer than transferring funds online — particularly for first-time buyers.”
The number of locations where people can buy BTC continues to grow around the world. In the United States, cryptocurrency firm LibertyX has started a program that allows people to buy Bitcoin at more than 20,000 Rite Aid, CVS, and 7-Eleven retail locations.
As for its program, LibertyX CEO Chris Yim says, “Now, everyone is only a few miles away from owning Bitcoin and becoming part of its global community.”
PayPal is also chiming in with the cryptocurrency mainstream, reports say that the Fintech giant “intends to offer a cryptocurrency transaction service to its 325 million users.” Analysts predict that PayPal will offer a “built-in wallet functionality” in three months’ time.