09.12.2021

UK Post Launches Commission-Free Cryptocurrency Sale Service

The UK Postal Service is now offering customers the ability to buy Bitcoins (BTC) and other cryptocurrencies, thanks to a partnership with Swarm Markets, a decentralized cryptocurrency exchange.

According to The Telegraph, there will be no commission for the sale of vouchers , but the buyer will have to go through an identity verification procedure using special software.

Starting next week, customers using the postal service’s EasyID app will be able to buy cryptocurrencies, including bitcoin, through the smartphone app.

According to some local analysts, the move could be extremely risky for investors. Chartered Financial Planner Warren Shute believes that investors need to be aware of hidden risks:

“When people buy cryptocurrencies, they should be sold with a very clear warning: you can get back much less than you bought.

One thing is to buy cryptocurrency on the Internet through an investment platform, which is familiar to the audience, but it does not fit in with the UK postal service. “

Swarm Markets co-founder Philippe Pieper disagrees with this view, believing that the lack of secure and regulated points of sale prevents people from accessing DeFi:

“By making buying real Bitcoin and Ethereum easy and secure, more people are now able to get started with cryptocurrency and take advantage of DeFi — and not just those who understand cryptojargon.”

This is not the first time bitcoin can be purchased at post offices.

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