Would you like bitcoin with that? Crypto now available at your local newsagent
Link copied to
Australians can now purchase cryptocurrency with their daily paper or lotto ticket after an online service launched in-store purchases of Bitcoin and Ethereum in 1200 newsagents across the country.
The minimum purchase is $50 — and all you need is cash, a phone number and email address.
It’s the first time Australians can buy Bitcoin over the counter with cash, facilitated by bitcoin exchange bitcoin.com.au.
A 4 per cent fee applies to every transaction, which the exchange says is the lowest fee in Australia.
Bitcoin was today trading at $US11,000 ($14,158).
The service has been rolling out since 2016, with Ethereum added to the offering as a means of a lower cost entry point.
Buyers just need a digital wallet — the rest is as simple as an ordinary newsagent transaction.
Bitcoin.com.au chief Rupert Hackett told 9Finance selling through a physical story allowed for the service to gain the trust of consumers.
“When your product is totally digital it can be hard to gain trust from consumers because there’s no tangible product being handed over,” he said.
“The fact that you can now buy Bitcoin and Ethereum from the same place you purchase soft drinks and stationery really speaks to how institutionalised cryptocurrency has become.”
So much so, you can even check where your local participating newsagent has on an interactive map.
Here’s a recent list of ASX-listed small caps with exposure to cryptocurrency or blockchain (prices current at Feb 26):