Australians Can Now Pay for Bitcoin in Australia Post

Australians Can Now Pay for Bitcoin in Australia Post

A major step has been taken as part of Bitcoin's progress towards greater adoption and expansion for Australians. Australians can now pay for Bitcoin from more than 3,500 Australia Post branches across the country. According to the crypto exchange Bitcoin.com.au, a new service is launched to promote cryptocurrencies to the main audience, as well as increasing adoption among Australian businesses and organizations. The deal was first announced in early May as part of its larger plans to expand debt crypto accessibility, increase sales and raise commissions. Bitcoin.com.au customers can pay at 1,500 retail outlets in the Blueshyft payment network for Bitcoin, at 1,200 newsstands, and use the online payment option POLi to make Bitcoin purchases. “This is an important milestone for digital currency in Australia and around the world,” said Bitcoin.com.au CEO Holger Arians. This reveals that there are established businesses and organizations that want to learn about new technologies, not by blocking them. "said.

How to Buy Bitcoin?

Bitcoin.com.au's cryptocurrency collection service works by users who first visit the company's website to place an order for an amount of Bitcoin or Ethereum corresponding to two of the world's most popular cryptocurrencies. Users are given the basic item "wallet address" of crypto transactions, which allows them to take the cryptocurrency into a pre-existing crypto wallet. Contrary to the popular opinion that crypto transactions are completely anonymous, Bitcoin.com.au also collects and verifies credentials through the Australia Post's Digital Identification service to comply with Australian Government regulations. Once a crypto wallet has created a Bitcoin.com.au account and their identity has been verified, individuals can attend any of the 3,500 branches of Australia Post to pay via EFTPOS or in cash. “Our mission is to make Bitcoin safe and easy for every Australian,” said Arians. For many, paying Bitcoin in an Austraila Post office feels safer, especially for the first time than to transfer money online for buyers. ”

The Rise of Crypto

In the past five years, cryptocurrencies have emerged as one of the newest financial instruments in history. Given that less than 1% of the world's population has them, their effects seem to be insignificant so far. According to consumer data provider Statista, the number of blockchain wallet users worldwide rose from about 7 million in 2016 to over 34.6 million in 2019. Growth was fast, but the adoption rate was limited compared to the total population. According to the statistics of Statista, only 0.4% of the world's population is stated to be "ready for crypto".

PayPal Offers Bitcoin to 325 Million Users

Bitcoin.com.au's partnership with Australia Post is a small step towards cryptocurrencies entering mainstreams such as PayPal, Venmo, 7-Eleven, CVS Pharmacies and Rite Aid Pharmacies. Fintech giant PayPal plans to offer a cryptocurrency transaction service with crypto news service Coindesk to its 325 million users, and this plan could launch its service within three months and offer "built-in wallet functionality". For now, the United States has pioneered the move towards crypto growth among consumers, but Australia has slowly begun to catch up with it.