Bitcoin to be sold in Australian newsstands over the counter

Australians will soon be able to buy some Bitcoin along with the newspaper and a pack of gum.

Launching Thursday, a new initiative will help people buy Bitcoin with cash at around 1,200 newsagents nationally, Fairfax Media reported.

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The project is being rolled out as a partnership between the retail network Blueshyft and Australian Bitcoin exchange, Blueshyft’s technology already allows customers to connect in-store with the bookmaker Ladbrokes, among other services.

According to Rupert Hackett, general manager of, the joint venture should help promote trust in Bitcoin, which doesn’t exactly have the best reputation as a reliable place to put your money. 

By going in-store, they hope to inspire trust by providing a tangible experience. “It’s hard to trust the current Bitcoin exchanges because the process is very vague to the consumer,” he told Mashable Australia. “We believe that through this retail partnership, we’re offering proper branding that will give a lot of trust to the consumer.”

An iPad in the newsagent will allow punters to make the transaction, and the companies will take a four percent commission on sales.

As of writing, one Bitcoin was worth A$744.24, which seems like a

Read more ... source: TheBitcoinNews

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