Australia Post Adds Bitcoin Service

June 30, 2020, by Maayan
Bitcoin drifts lower with stocks but mainstream opportunities are still growing.

AusPost Now Accepts Cash and Card for Digital Currencies

Bitcoin was slightly lower on the week after stocks sold off on Friday, with traders taking profits on the recent rise in Coronavirus cases, with Texas and Florida pausing their re-opening.  

Despite the slow price movement, news this week was that Australia Post was now accepting cash and card payment for digital currencies at over 3,500 post office branches across the country. AusPost is working in collaboration with an Australian cryptocurrency exchange based in the Country’s Victoria state.

The exchange’s CEO commented on the partnership: “This is a major milestone for digital currency in Australia and around the world. It proves that there are established businesses and organizations that want to learn about new technologies”.

Another institution looking to roll out cryptocurrency sales is Paypal. The company announced a hiring push in early 2020 to build its Blockchain Research department ahead of a potential product offering.

The more opportunities there across the world for retail investors to buy, the more chance we have for a mass adoption rally down the road.

Litecoin Test Support on the BTC Dip

Litecoin was barely lower this week with the coin still resting at the $42.00 level. The crypto markets are quiet, but this is due to the fact that the Federal Reserve and other banks have stabilized the markets, so there is less demand for alternative or safe haven assets. Cryptocurrency investors are generally happy to sit and wait for a future rally so there is no real selling emerging.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.