Bringing Bitcoin to the masses is a very tough challenge. It becomes even more difficult without convenient ways to purchase cryptocurrency. Stargroup, an Australian fintech firm, runs around 500 ATMs in the country. Through a new partnership with Digital X, they will provide two-way Bitcoin ATM solutions moving forward. It is evident the Bitcoin ecosystem will keep growing in Australia for quite some time to come.
Bringing Bitcoin functionality to more Australian ATMs is an interesting decision. There are a few of these machines in operation already. However, their number is pretty small and they charge high fees. That is the case with most Bitcoin ATMs these days, unfortunately. Any fee between 4% and 8% to buy or sell Bitcoin through an ATM is relatively common. The partnership between these two companies is designed to improve that situation as well. Moreover, there is a lack of two-way Bitcoin ATM functionality in Australia as we speak.