The UK Post office starts allowing users to purchase Bitcoin through their app as the BTC adoption rate is ramping up over the past few months, as we can see more in today’s Bitcoin news.
From the retail outlets announcing users are able to checkout with their BTC to El Salvador accepting bitcoin as a legal tender, there’s no doubt that BTC is headed for a mainstream option worldwide which is why the US Post Office added the new option for its users. The reports show that the Post Office was allowing the purchase of BTC via a new partnership with Swarm Markets, a German-based and regulated exchange that entered into the partnership with the UK post office. This partnership will allow users that have a verified ID thorugh the Post Office EasyID app to gain access and purchase cryptos from swarm’s Websites.
The users will be able to purchase crypto vouchers with a few clicks which they can redeem for cryptos like BTC. This worried financial markets experts that have warned that cryptos are risky to invest in. Users should be presented with a clear warning that they are purchasing them so concerns were immediately raised about associating assets as volatile as crypto with the Post Office, as the Chartered Financial Planner Warren Shute said:
“When people buy cryptocurrencies, they should be sold with a very clear wealth warning: that you could get back a lot less than you purchased. It’s one thing buying crypto online via an investment platform, as that’s what the audience expects, but you don’t associate this with the Post Office.”
Swarm Markets believe that the new partnership will make it easier for people to start getting invested in crypto. The co-founder of Swarm Markets Phillip Pieper said:
Swarm Markets believes that this partnership will make it easier for people to get started in crypto. “By making it easy and safe to buy real Bitcoin and Ethereum, more people now have the option to get started in crypto.”
Just like other regions, there are plenty of ways available for residents to buy BTC in the UK via exchanges like Gemini, Coinbase, and Binance which are already operating and offering these services to UK residents alogn with teh host of their crypto exchanges. A month ago, payments company PayPal also announced that it was not expanding its crypto operations to UK citizens and users who were not able to buy or sell and store BTC and other cryptos in their PayPal accounts remained without an option. Although the new checkout with Crypto feature was made available to US users that were not included in the rollout it presented a new way for customers to get exposure to crypto and with PayPal allowing users to buy as low as £1 worth of crypto, things are getting much better.
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