Newspapers and Cryptocurrency
I remember back when I was a kid and I delivered newspapers for a few $$$. I would collect the papers from the local newsagency and then head out to doorknock houses and sell them newspapers....
Fast forward 25 years and now I can even buy my cryptocurrency from the local newsagent when I grab my trusty newspaper.
At over 1200 newsagencies across Australia, you can now purchase Bitcoin and Ethereum. All you need is $50, a digital wallet, an email address and a phone number. It has allowed small investors to purchase cryptocurrency without having to go through the laborious process of setting up an account online, which can be off-putting to some of the less tech-savvy investors.
It has also increased the foot traffic into the dinosaur that is the newsagency.
Owner of the NewsXpress newsagent in Oxenford, Queensland, Domenic Zizza told The Australian Financial Review any value-adding service it can provide its customer base helps it win business.
"[The take-up] has been fairly substantial to say the least. In some instances it's been a bit of a frenzy...people's aspirations are high and this has provided an opportunity for punters to have a go, but at a small scale," he said.
"The traditional newsagent is a dinosaur. There's been a substantial decline in newspaper and magazine sales in the last three years and the transition to bring in additional value-added services to keep the business alive is a positive."
Source
The sale of the two major cryptocurrencies in these retailers is thanks to a partnership between Bitcoin Australia and iOS-based payments system Blueshyft.
Have you purchased any Bitcoin or Ethereum from a newsagency? Would you?
It's an interesting concept that is bring the opportunity to invest in cryptocurrencies to the wider population, and i my eyes, any opportunity to open up investment to a wider audience can only be a good thing.
Thanks for reading.
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