Postal Service Customers in Austria Can Now Buy Bitcoin, Ether and More

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Austrian postal companies supplier Österreichische Post has confirmed it’s now providing offline change buying and selling for bitcoin, ether, sprint and litecoin in a collaboration with Bitpanda, a Vienna-based cryptocurrency change.

Bitpanda first announced the service on July 11, and Österreichische Post later confirmed the information in an electronic mail with CoinDesk.

As a results of the partnership, clients at the moment are in a position to buy €50, €100 and €500 vouchers at 400 official branches of the postal firm, in addition to its 1,300 companions throughout the nation. The vouchers can then be redeemed for cryptocurrencies via Bitpanda’s on-line platform.

Bitpanda co-CEO Eric Demuth stated that the offline transaction charge will probably be stored at three p.c, the identical because the change’s on-line change charge, in a hope to push the adoption mainstream.

While such a big accomplice might be seen as a possible revenue driver, either side didn’t verify the precise break up of the income generated from the offline transactions. According to native information supply derStandard.at, Bitpanda is anticipating the collaboration to scale up the transaction quantity to €200m, which may equal to roughly €6m income from transaction charges.

Notably, the brand new service seems to not require or impose any id verification. According to Demuth, “An account with a valid email address is all you need.”

Vintage post boxes picture through Shutterstock

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