Bitcoin Swipe Cards Have Been Released In Australia

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coinjar-bitcoin-australia

It seems Bitcoin will become a legal payment method in the near future.

CoinJar, a Melbourne-based bitcoin platform, has taken an advanced step to make bitcoin more easily accessible for people by releasing Swipe cards. The cards are being tested on one hundred random bitcoin users, ranged from early adopters to everyday consumers. The CoinJar account will allow customers to convert bitcoin into Australian dollar, ready to spend.

The cards will let you buy your groceries, withdraw cash at any EFTPOS ATM and pay your bills just like a regular bank card.

With 11 million bitcoin flying around the world and a market cap at $6.1 billion bitcoin globally, CoinJar placed itself as part of the evolution. The company has already processed more than $50 million worth of bitcoin transactions on the platform in the past 12 months for more than 30,000 customers.

Nowadays, it was estimated that 500,000 Australians are already using bitcoin. Yet, many others are still confused by the whole concept.

“Swipe demystifies bitcoin and makes it accessible to everyone through a secure platform,” CoinJar CEO Asher Tan said. He goes further by saying that the bitcoin world is for people “who want a full-control over their money.”

“It is not controlled by a bank or other other third parties, but by a network of computers worldwide backed by strong encryption that verify transactions multiple times to ensure that no fraudulent transactions occur. This means nobody has total control over your money but you.”

So how do regular Australians start paying with bitcoin? Easy. Anyone with a bank account can convert their AU$ into bitcoin using a platform such as CoinJar. The current rate of conversion is 1 bitcoin = AU$506.94.

The service will set you back a two per cent exchange fee, which is a relatively small price to pay.