Uk Post Office will sell Bitcoins starting next week. The purchased vouchers can be exchanged for Bitcoin or Ethereum on the Swarm platform.
Bitcoin and crypto adoption, in general, continues to increase around the world. From retail stores announcing that users can shop using bitcoin to El Salvador officially legalizing bitcoin as a legal tender, there’s no doubt that cryptocurrency is heading towards mass adoption.
Now a peculiar situation has happened with the UK Post. According to a report by The Telegraph, the UK Post service has announced that it will allow the purchase of bitcoins through a new partnership in a form of vouchers (something like top-up cards).
Swarm Markets, a regulated cryptocurrency network based in Germany, has partnered with the UK Post to allow users who verify their identities through the UK Post Office EasyID app to access and purchase cryptocurrencies directly from Swarm’s websites.
Buying bitcoin through UK Post Office
Users of the UK Post’s EasyID Identity Verification App will now be able to purchase cryptocurrencies, such as Bitcoin, and Ethereum, using a voucher system from Swarm Markets, the cryptocurrency exchange that claims to be the first Decentralized Finance (DeFi) Protocol regulated in the world.
Starting next week, purchased vouchers can be exchanged for Bitcoin or Ethereum on the Swarm platform.
Philipp Pieper, the co-founder of Swarm Markets, said that the lack of a secure and regulated platform has prevented people from accessing DeFi systems, but “by making it easier and safer to buy Bitcoin and Ethereum, more people now have the option to get started in cryptocurrencies and enjoy the benefits of DeFi – and not just those who understand cryptocurrency jargon.”
UK Post Office and the Bitcoin
Users of the Post Office application will now be able to purchase cryptocurrency vouchers with just a few clicks, which can then be redeemed for cryptocurrencies.
This has worried financial market experts, who have warned that cryptocurrencies are too risky to invest in. Therefore, users should receive clear and concise notice when purchasing them. Concerns were also raised about the association of such volatile assets with the mail system.
Only users of the EasyID identity verification application, launched by the British Postal Service in August this year, will be able to acquire digital assets.
In 2019, the Liechtenstein Postal Service began trading bitcoin. When purchasing digital coins, residents of the European Republic receive a physical wallet with encryption keys.
In 2020, sales of the first cryptocurrency began at more than 3,500 post offices in Australia.
What is Swarm Markets?
Swarm Markets provides the first licensed* decentralized finance (DeFi) protocol, introducing the first automated market-making (AMM) decentralized exchange (DEX) starting with the Ethereum blockchain.
Their mission is to enable customers to conduct transactions with blockchain-based tokens representing all asset classes easily, cost-effectively and securely, in a regulatory-safe environment, while preserves the core benefits of DeFi: self-custody, on-chain transparency, and networked liquidity.
As a Unified Exchange For Securities & Crypto, Swarm Markets claims to be the world’s first licensed* high-liquidity DeFi protocol — the convenience and transparency of DeFi with the confidence of financial market compliance.
Create pools with a customizable number of assets and weights.
Join liquidity pools to earn trading fees and other rewards just for staking your assets.
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