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Customers can now buy bitcoins and altcoins at more than 3,500 locations spread around the country in a joint partnership between the Australian cryptocurrency exchange Bitcoin.com.au and the Australia Post.
As with payment for delivery services, customers may opt to pay in cash or any credit or debit card to purchase cryptocurrency at any of the locations. However, Bitcoin.com.au will now handle all crypto-payments.
Holger Arians, CEO of Bitcoin.com.au, praised the Australian government for being open to introducing new technologies, rather than finding ways to block them. An unlikely venture has come as a surprise to many, as the Australia Post has existed since 1809. It is generally believed that old institutions are in no hurry to accept changes, especially technological ones.
In Australia, fortunately, the level of crypto-adoption has been constantly rising recently. As per a report by the Australian Tax Administration (ATO), “between 500,000 and one million Australians are estimated to have invested in crypto-assets.”
Bitcoin.com.au was using the large network of the company to extend the use of crypto-assets and to provide accessibility. Arian has said in a conversation recently:
“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.”
Growing Numbers of Physical Locations Sell Cryptocurrency
A growing number of physical locations are now offering customers a chance to buy cryptocurrencies. Automated Bitcoin teller machines have recently crossed the worldwide milestone of 8,000 units installed.
Recently it was announced that Bitcoin can now be exchanged for cash at more than 20,000 retail locations throughout the United States, including 7-Eleven, CVS, and Rite Aid.
All 7-Eleven stores across the Philippines also began selling crypto in September of last year. Several French cigarette stores did the same in early 2019.
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