Bitpanda Ties Up With Austrian Postal Service To Offer Crypto Vouchers

Buying or investing in cryptocurrencies was itself a difficult task an year before. However, it is no longer the case with cryptocurrency exchanges and brokers establishing their operations in every nook and corner of the world. The process of investing has been simplified further in Austria. The Vienna-based Bitpanda, Europe’s popular retail exchange for trading cryptocurrencies, has partnered with the country’s post office to sell cryptocurrencies in the form of vouchers through the latter’s 400 strong branches and 1,300 post partners.

The cryptocurrencies that are being offered are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), IOTA, Dash, Bitcoin Cash (BCH) and Komodo (KMD). Bitpanda’s website enables customers to search for the nearby post office or their partner which offers cryptocurrency vouchers.

Notably, there are over 240 such facilities in Vienna and 176 in Linz. A user can purchase vouchers in denominations of €50, €100, and €500. The vouchers can be redeemed online through Bitpanda’s website.

Customers can approach any of the post office branches or their partners to purchase cryptocurrency vouchers for cash payments. An email address should be provided by the customer while purchasing the voucher. The cryptocurrency is sent directly to the integrated wallet.

The Austrian Post aims to remain relevant by offering services that are in demand in the age of digital technology. The move is expected to further expedite the adoption of cryptocurrencies.

The Austrian Post has created a “close-knit network of postal service points” that has given them a competitive advantage. Post offices across the globe are looking at opportunities to expand into other services to stay in business. The postal department has forecast a 5% annual decline in letter volumes. However, it expects a double-digit growth rates in the parcel services, driven by e-commerce boom.