The rise of cryptocurrencies has been covered quite regularly on this website. Most people who follow cryptocurrencies will know that the 'best' place to buy them is on a digital currency exchange.
However, there will now be another option for everyday punters to buy cryptocurrencies.
People wanting to bet/invest on cryptocurrencies can now go to 1,200 newsagents across the country and get Bitcoin or Ethereum. All it will take to start is $50, a digital wallet and a phone number.
This offering has come about from Bitcoin Australia and Blueshyft, a payment system, coming together to offer the transaction through the payment platform.
According to this AFR article chief executive of the Australian Lottery and Newsagent's Association, Adam Joy, said "Newsagents have many ways to innovate that are much less concerning and fall within regulations and safeguards. For example, embracing omni-shopping with mobile apps and an online presence that integrate with in-store shopping.
"When looking at cryptocurrency in-particular, businesses need to be aware of the level of illegal activity and lack of transparency attached to cryptocurrencies."
This move is almost as odd as when Harvey Norman Holdings Limited (ASX: HVN) invested in a dairy farm.
Cryptocurrencies have lost a lot of value since the December 2017 all-time highs, but have done well in recent days with Bitcoin rising past US$11,000 again.
Foolish takeaway
This seems like a good move for newsagents, but I think people should be just as careful about buying cryptocurrencies as always. In-fact, I'd perhaps worry that people going to a newsagent to buy cryptocurrencies perhaps shouldn't be buying them.
