Blueshyft and Bitcoin.com.au to launch over-the-counter bitcoin platform

Investing | June 7, 2016 By:

Blueshyft has announced a partnership with Australian bitcoin exchange Bitcoin.com.au to launch an over the counter platform for selling bitcoin which is being deployed to about 1200 newsagents nationally.

Blueshyft’s payment platform features an easily accessible iPad terminal that consumer can use to purchase the digital currency. At launch, the minimum transaction amount is set at $50 AUD, with consumers paying a 4% service fee. However, Rupert Hackett, general manager of Bitcoin.com.au, told Mashable Australia that the minimum may eventually be dropped down to $1 AUD.

According to Australian Financial Review, Bitcoin.com.au general manager Rupert Hacket said that the new system would create a tangible, physical experience that would enable new users to safely buy Bitcoin. “There is no doubt that Bitcoin is poised for huge growth,” Mr Hackett said. “Big banks and accounting firms are investing in the underlying technology, Blockchain.”

It is the first time Australians will be able to buy bitcoin over the counter using their cash. The project is expected to boost customers’ trust in bitcoin and improve its reputation as a reliable cryptocurrency.