Digital Assets: Australian Digital Exchange Ties Up with Australia Post For Bitcoin

July 1, 2020 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2020/06/1024px-Inglewood_Post_Office_Western_Australia.jpg

Australians can drop into a Post Office and pay for bitcoin.

The global digital assets community is buzzing over news that Australian digital exchange bitcoin.com.au has made it easy for Australians to purchase bitcoin. They can now place an order on the exchange but then walk across to an Australia Post office and pay for the ordered bitcoins.

Bitcoin.com.au CEO Holger Arians believes that the arrangement will enhance the legitimacy and adoption of bitcoin in Australia.

“For many people, paying for Bitcoin at an Australia Post office feels safer than transferring funds online — particularly for first-time buyers,” he said to Coin Telegraph. “We’re proud of this partnership and would like to thank Australia Post for their continued openness to new technologies.”

How it works

Bitcoin.com.au customers interested in buying bitcoin (or even Ethereum) can pay for their cryptocurrencies at any of the 4500 Australia Post offices in the country.

Customers need to log into the exchange, create and order, and then select “pay at Post Office” as the payment option.

They can head across to the neighboring Australia Post office, and using their Post BillPay service, pay from $ 50 – $ 50,000 with EFTPOS or cash.

The Post Office may want a government-issued ID for identity verification.

Once paid, the cryptocurrency would be transferred to the customer’s wallet. The customer will get a receipt from Australia Post and a tax invoice by email after the order has been processed.

Bitcoin (BTC) adoption

According to Coin Telegraph, the signs are good for the growing adoption of the digital currency by customers and investors. Over 8,000 bitcoin ATMs are now functional across the globe.

Investors can now buy bitcoin by paying cash at over 20,000 retail locations across the USA such as CVS, Rite Aid, and 7-Eleven.

In Venezuela, Panamanian crypto exchange Cryptobuyer has tied up with Venezuelan local payments processor Mega Soft to enable the use of BTC by shoppers at Venezuela’s biggest retail chains.

Meanwhile, there have been rumors that PayPal (NASDAQ: PYPL) and its digital wallet subsidiary Venmo are likely to offer cryptocurrencies for buying and selling.

Last month, Canadian e-commerce giant Shopify (NYSE: SHOP) added another crypto payment processor to its retinue of digital platforms facilitating crypto payments. It entered a strategic partnership with CoinPayments, the world’s largest cryptocurrency payments processor. Before this, Shopify already had the Coinbase Commerce, BitPay, and GoCoin crypto processors on board.

Related Story:  Crypto Adoption Growing Apace – CoinPayments Ties Up with Shopify

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