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With Bitcoin heading for mainstream adoption, now the U.K. Post Office allows users to purchase Bitcoin through its App.
According to The Telegraph, the UK post office in a partnership with Swarm Markets, a German-based and regulated crypto exchange will allow its users to purchase Bitcoin. The users with verified identities with the Post Office EasyID app will be able to directly access and purchase cryptocurrencies from Swarm’s websites.
This will make it easy for users to purchase cryptocurrency vouchers with just a few clicks and also redeem cryptocurrency such as Bitcoin. There is fear amongst financial markets experts considering how risky cryptocurrencies can be to invest in. Users will have to be presented with a clear warning about how risky dealing in cryptos can be. Associating cryptocurrencies with Post Office is also considered to be a bad idea considering how volatile the assets were.
Warren Shute, Chartered Financial Planner 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.”
According to Swarm Markets, its association with the Post Office will make it easy for people to get started in crypto. Phillip Pieper, Co-Founder of Swarm Markets said, “By making it easy and safe to buy real Bitcoin and Ethereum, more people now have the option to get started in crypto,” said Phillip Pieper, Co-Founder of Swarm Markets.
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