You Can Now Buy Bitcoin And Ethereum Over The Counter At Newsagencies Around Australia

Image: David McBee / Pexels

There's no shortage of places to pick up bitcoin if you're keen on having your own slice of cryptocurrency, but it doesn't hurt to have more options. So, as of yesterday, you can now pop down to the newsagency and purchase both bitcoin and ethereum OTC, though it does involve a hoop or two.

As Stuart Marsh over a 9Finance explains, over 1200 newsagencies across Australia will now let you drop in and purchase $50 or more of bitcoin or ethereum -- all you need is the appropriate digital wallet -- with Bitcoin.com.au acting as facilitator.

Of course, you pay for the convenience in the form of a five per cent transaction fee, quite a bit steeper than the trading fees of an exchange such as BTC Markets.

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According to an interview by Marsh with Bitcoin.com.au CEO Rupert Hackett, the announcement coincides with the company's introduction of ethereum as a purchasing option:

"Traditionally, the only people who knew about Ethereum or wanted to buy it were those who already had bought Bitcoin," said Hackett. "But now that cryptocurrency is more well-known we found that Ethereum's cheaper price point made it a more digestible value proposition for buyers."

It should be noted you can't actually sell your shiny new ethereum via Bitcoin.com.au, which means you'll have to hit up a conventional exchange.

If you're wondering if your local newsagency supports the service, there's no need to ask around -- Bitcoin.com.au has a map available on its website, where you can enter your suburb or postcode and find out straight away.

Buy Ethereum [Bitcoin.com.au, via 9Finance]


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