Skip to main content

FastBitcoins, a platform that lets people invest in BTC online or in-person through prepaid vouchers, has announced that it will expand its platform to Australia and let customers there purchase bitcoin directly through their bank accounts.

An announcement shared with Bitcoin Magazine explained that the move was motivated by a growing interest in bitcoin among Australians and that it was enabled through a partnership with POLi, a local online debit payment platform.

“With awareness of the world’s most popular digital currency at 88% in the region [according to the Independent Reserve Cryptocurrency Index], FastBitcoins has built a service that capitalizes on consumers’ interest in Bitcoin, helping those who want to buy bitcoin as an investment but find existing buying methods such as exchanges, difficult to understand and use,” according to the announcement. “Users in the region can now log into their FastBitcoins account and select the option to buy their desired amount of bitcoin via bank transfer, where they are then safely and securely directed to their banking provider with POLi to authenticate and complete a bank transfer for payment.”

By enabling faster and easier bitcoin investment for Australians, FastBitcoins may help the region adopt BTC at a faster rate.

In 2019, the platform became one of the first to integrate Bitcoin’s Lightning Network. Then, last year, it integrated a dollar-cost averaging feature that could help users slowly and steadily accumulate BTC holdings. Earlier this year, FastBitcoins started offering users financial rewards for leveraging the Lightning Network, which saves on-chain transaction fees.