Austrians can buy cryptocurrency in the mail
Austria Post Representative Österreichische Post from Austria offers customers to buy Bitcoin, Ethereum, Dash and Litecoin offline. The postal service works with Bitpanda, a Vienna cryptocurrency exchange office.
Bitpanda announced the partnership on July 11, a little later the Österreichische Post confirmed CoinDesk information.
As a result, Bitpanda and the Österreichische Post provide the opportunity to purchase vouchers of 50, 100 and 500 euros in 400 official offices of the postal company, as well as in 1300 partner institutions across the country. After the purchase, vouchers can be redeemed for cryptocurrency through the online Bitpanda platform.
Bitpanda co-founder Eric Demuth noted that the commission for an offline transaction will be about 3%, the same as for an online exchange. Thus, the service team is promoting its project to the masses.
Although cooperation was seen as a potential source of profit, neither side reported commercial details of the section on revenue from offline transactions.
According to local news source derStandard.at, Bitpanda expects work with the Österreichische Post will increase transaction volume to 200 million euros. The company's specialists forecast 6 million, euro transaction fees.
Notably, the new service does not seem to require or introduce verification. On this account, Eric Demuth says:
“An account with a valid email address is all the customer needs.”