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.