Tuesday, September 28, 2021
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UK Post Office now allows users to purchase Bitcoin

Bitcoin adoption has actually accelerated in recent months. From retail stores announcing that users can pay with their bitcoins to El Salvador, the country that officially accepts bitcoin as legal tender, there is a clear trend that is beginning to be seen and that bitcoin is on its way to widespread adoption is. The latest bitcoin adoption news is followed by an odd situation with the UK Post.

According to a report by The Telegraph, the Post allows Bitcoin to be purchased through a new partnership. Swarm Markets, a Germany-based and regulated platform, has entered into this partnership with the UK Post. It enables users who have verified their identity via the Post’s EasyID app to access the Swarm websites directly and buy cryptocurrencies.

With just a few clicks, users can buy crypto vouchers, which they can then redeem for crypto currencies such as Bitcoin. Financial market experts are concerned and have warned that investing in cryptocurrencies is very risky. Concerns have also been raised about associating such volatile assets as cryptocurrencies with the postal service.

“When people buy cryptocurrencies, they should be sold with a very clear asset warning: that you could get a lot less back than you bought. It’s one thing to buy cryptocurrencies online through an investment platform because that’s what the audience expects, but you don’t associate that with the post. ”- Warren Shute, Chartered Financial Planner

Buy bitcoin in the UK

As in any other region, there are numerous ways to buy Bitcoin in the UK. Exchanges like eToro, Binance, Coinbase and Gemini are already up and running and offering these services to residents of the UK, as are a variety of other crypto exchanges.

Last month, the payment giant PayPal announced that it is now expanding its crypto options to include British citizens. Users can use it to buy, sell and save Bitcoin directly with PayPal. The “Checkout with Crypto” function, which was made available to US users, was not taken into account during this introduction. Nonetheless, this represents a new way for customers to come into contact with cryptocurrencies.

Regarding the partnership with Swarm Markets, a UK Post spokesman said:

“Access to products and services is increasingly shifting to the Internet, and we have responded to this development with the introduction of our free Post Office EasyID app. It enables people to create their own secure digital identity on their smartphone and easily identify themselves to any company they want to interact with. “

Proof of text: newsbtc

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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