You read that right.
Cryptocurrency users will now be able to purchase two of the largest cryptocurrencies in the country according to market cap:bitcoin and ethereum, from 1,200 newsstands all over Australia. This is a result of the partnership between domestic cryptocurrency exchange Bitcoin Australia and payments provider, Blueshyft.
According to 9Finance: To be able to purchase, consumers must download a digital wallet to enter their email and mobile number to register. The now-registered user can then scan a QR code displayed at the newsagent through an iPad which completes the purchase with a transaction fee at 5%. The entire process will approximately last for 20 minutes before it is reflected in their respective wallets.
This action, according to Bitcoin Australia chief executive Rupert Hackett, is about “democratizing” the process of adopting the digital product at the traditional and physical newsstand.
Furthermore, he says that a physical vendor who sells bitcoin is seemingly more trustworthy for a new adopter who may have second thoughts regarding cryptocurrencies online. To put it simply: It is harder to gain trust from clients when there is no physical product. Having a live human being mediate the transaction puts the buyers at ease and makes the transaction more trustworthy.
In mid-2016, the project was only available for bitcoin alone. The addition of ethereum wasn’t until years later.
This endeavour aims to helps the dying industry of newsstands as well by incorporating the growing mainstream interest in cryptocurrencies
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