The purchase amount must be at least $ 50, the requirements are minimal - a phone number, and email address.
The service is provided by Bitcoin.com.au, which operates in the field since mid-2016.
Rupert Hackett, CEO Bitcoin.com.au, said that the main problem of the sale cryptocurrency in physical retail stores was the distrust 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… Using newsagents provides consumers with a convenient and trusted way for investors to buy cryptocurrency”, Hackett said in a conversation with the media.
“Traditionally, the only people who knew about Ethereum or wanted to buy it were those who already had bought Bitcoin. 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”, he added.
To purchase the crypto currency, buyers will first need to download a digital wallet, scan the QR code using the iPad mini in the newsstand and complete the transaction. Hackett says that on average, most people get cryptocurrency on their wallets for 20 minutes.
The commission for the transaction will be 5%.
“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 [...] For anyone who has hesitated about buying Bitcoin because it all seemed too complicated, this is the perfect setup that takes the fear factor out of investing in digital currencies."
Apparently, the use of cryptocurrency in Australia is gradually becoming an everyday reality. The airport in Brisbane is going to set the world's first payment terminal in cryptocurrency. The airport, together with local and international companies, work to ensure that shops, cafes and restaurants on its territory accept Bitcoins, Airs and Ripple for payment.
Australia, in contrast to the major American and British banking group, is not going to prohibit the purchase of cryptocurrency due credit. Australian banks do not support only those cryptobusiness, in which the company acts as a dealer or exchange, but ordinary citizens can freely buy cryptocurrency at their own expense, including borrowed funds.