Buying Cryptocurrencies From BitPanda In Austrian Post Offices

On July 11, the Vienna-based startup firm BitPanda published a press release announcing its new partnership with the Österreichische Post (Austria’s official postal service). “BitPanda to go” now facilitates the exchange of euros for cryptocurrencies in post offices all over Austria. As per the release:

“An account with a valid E-Mail address is all you need. You select the chosen digital currency such as Bitcoin, Ethereum, Dash or Litecoin and after entering the code, within seconds the amount of your chosen currency will be transferred into your wallet.”

In an email to ETHNews, Österreichische Post confirmed cooperation with BitPanda began on July 10, 2017, and vouchers were available in its post offices.

As of July 10, 400 post branches and 1,300 postal partners in Austria have implemented BitPanda to go, and the crypto startup claims to have favorable prices due to its ability to sell the digital assets at cost. In addition, freshly purchased coins need no verification. They will be sent directly to the integrated wallet of the customer, at which point they can be spent “freely and instantly.”

The startup published a map of locations where customers can buy cryptocurrencies in denominations of 50, 100, and 500 euros. After a completed transaction, the customer receives a receipt with a code that can be entered on BitPanda’s official website to redeem the funds. All exchange rates can also be found on the BitPanda to go site and the prices are final; no further fees will be charged.

“Among other things, the main goal of BitPanda was to offer fair prices for the ‘offline’ purchase of Bitcoins. With the ‘Österreichische Post AG’ as a partner, it allows them to offer the digital assets at cost. This means, that the fee structure by ‘offline’ purchases via cash is finally aligned with the inexpensive ‘online’ conditions. Thus, the currencies manage to step further away from their somewhat dubious image and towards a popular and accepted investment and payment method.”

The topic sparked discussion in the reddit community. Many users – even the ones living in Austria – were surprised by the new “offline” cryptocurrency vending project.

“i just tried it. bought a voucher for 100 eur, no id necessary. dont know if there is a daily limit. logged into my bitpanda account (which i already had, but not verified yet). you have to enter the code you get and you can choose between bitcoin, litecoin and ethereum (not dash for some reason, even though it's advertised) [sic],” a redditor named “styx2000” wrote in a comment.

Taking advantage of the new project, BitPanda is hoping to grow to a transaction volume of 200 million euros.