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Australia Post Allows Customers to Purchase Bitcoin Within Minutes

· 28 Oct 2018 in Cryptocurrency News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Australia Post, a recognized institution in the country, will allow users to purchase Bitcoin. The purchase will take just a few minutes using the Digital iD service. According to the local news outlet Micky, Digital Surge will be among the first adopters of the Digital iD platform.

Australia Post Sells Bitcoin

The Australian institution is entering the crypto market offering customers the possibility to purchase Bitcoin (BTC). Josh Lehman, director of Digital Suge, says that the service improves the registration process. In this way, users will be able to buy Bitcoin in minutes.

About it, Mr Lehman commented:

“Digital iD allows us to verify the identity of a prospective Bitcoin buyer in minutes, instead of the days it takes other exchanges. For the first time, an Australian can log on to a computer, punch in their driver’s licence or passport details, and be buying Bitcoin within minutes.”

Clearly, the process will improve users’ access to the cryptocurrency market in Australia. Additionally, Digital iD will be working with Coinjar and Coin Loft. This would boost confidence for investors that did not want to submit their data before.

However, the Digital iD project is not new. Its development began back in 2016 with the active participation of different institutions including Queensland Police, CUA and Airtasker.

The process is straightforward since users need to submit a valid document and use a QR code. Although it seems very simple and positive for the community, there is a point that is important to mark. Australia Post’s Digital iD service stores information on central servers. As it already happened in the crypto and technological world, centralized servers can be attacked. The information can be lost and criminals could potentially use it.

However, Cameron Gough, General Manager of Australia Post’s Digital iD, said that the system gives people more control over the personal data they share with organizations.

Although the solution is not perfect, because the information is stored on the company’s servers, users have a very easy method for purchasing Bitcoin in just minutes. This could improve access to the cryptocurrency market to some individuals. It will be a challenge for the company to have proper security measures and avoid being attacked.

 

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

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