More than 1,200 newsagents in Australia to offer Bitcoin buying service from March 1

posted 9 months ago
From today Australians will be able to purchase Bitcoin and Ethereum in-store from more than 1,200 newsagents around the country.

With a minimum purchase of $50, all customers need to purchase the digital currency is cash, a phone number and an email address.

The service is being provided by cryptocurrency exchange bitcoin.com.au, which has been rolling out in-store Bitcoin buying infrastructure since the middle of 2016.

Bitcoin.com.au CEO Rupert Hackett said the primary challenge of selling cryptocurrency within a physical retail store was gaining the trust of consumers.

To purchase the cryptocurrency, buyers would first need to download a digital wallet, which can be on your phone, a slightly more secure wallet on your desktop, or the most secure "cold-storage" wallet set up at home.

Once a user has a wallet they then scan a QR code using an iPad mini at the newsagent, and complete the transaction from there. Hackett says on average most users will have the cryptocurrency in their wallet within 20 minutes.

Bitcoin.com.au has waved the transaction fee for purchases made on March 1. For all other purchases made after this date each transaction will carry a fee of 5 percent.
Tags: bitcoin, news