1,200 News stands Become the BTC and ETH Purchase Points in Australia

According to Australian news outlet 9Finance, country’s cryptocurrency exchange Bitcoin.com.au had realized Bitcoin and Ethereum for fiat in more than 1,200 newsstands across Australia starting on March 1, 2018.

Bitcoin.com.au has been in operation since 18 months and presents itself on its website as “one of the first independent Bitcoin exchange networks in Australia.” Yesterday as the first time that Bitcoin.com.au offered purchases of ETH, as until then it only hosted BTC transactions on its site.

The CEO of Bitcoin.com.au, Rupert Hackett, describes the introduction of BTC and ETH for purchase in such familiar retail environments as a means of making more convenient for people the dealing with cryptocurrencies in general:

“The fact that you can now buy Bitcoin and Ethereum from the same place you purchase soft drinks and stationery really speaks to how institutionalized 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.”

For buying crypto from a participating Australian newsstand, people need fist to buy a crypto wallet, and then scan their wallet’s QR code with the newsstand’s iPad mini. Bitcoin.com.au has established a minimum purchase of 50 AUD (about $39 USD) worth of Bitcoin or Ethereum.

The average time of receiving the coins is estimated around 20 minutes, according to Hackett.

The transaction fee has been set to 5 percent. However, that fee has been waived for the opening day, in a proportional special that coincides with Bitcoin.com.au’s expansion into Ethereum transactions.

Here are some previous Australian steps to bring cryptocurrencies into traditional financial and retails environments. Last December, the Australian Securities Exchange (ASX) announced that it would launch the use of Blockchain technologies for equity transactions’ processing. Moreover, in January, the Brisbane National Airport stated that it has started the process of transforming the entire airport terminal to crypto-friedly, with businesses in the terminal to accept Bitcoin, Ethereum, and Dash.

 

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