UK Post Office Adds Option to Buy Bitcoin via Easyid App

UK Post Office Adds Option to Buy Bitcoin via Easyid App

U.K. Post Office’s Easyid app is adding the option to buy bitcoin starting this week. Through the free-to-use Post Office app, customers can access Swarm Markets, a regulated crypto exchange, to buy bitcoin and ethereum.

Buy Bitcoin and Ether Using Post Office App

The U.K. Post Office is introducing an option to buy cryptocurrencies via Easyid, its ID verification app. Post office customers who have verified their identity using the app can buy vouchers that can be redeemed for cryptocurrencies.

The Easyid app will offer access to Swarm Markets starting this week, the Telegraph publication detailed, adding that the app has “tens of thousands of users.” Berlin-based Swarm Markets, a crypto trading platform regulated by German financial regulator, BaFin, announced Friday:

Swarm Markets partnered with Yoti to offer Easyid mobile app users a safe and easy way to buy BTC and ETH vouchers via credit card or bank transfer — as well as access the world’s 1st licensed defi [decentralized finance] platform.

According to the publication, “the Post Office will not receive commission on vouchers sold but is paid by Swarm Markets for use of its ID verification software.”

The U.K. Post Office launched Easyid in August through a partnership with digital identity company Yoti. According to Yoti, Easyid is accepted at over 25,000 locations across the U.K., including 11,638 Post Office branches.

A Post Office spokesman was quoted as saying: “Access to products and services are increasingly moving online and we’ve responded to this shift by launching our free-to-use app, Post Office Easyid, allowing people to build their own secure digital identity on their smartphone and enabling them to easily control and prove who they are to whichever business they want to interact with.”

What do you think about the Post Office offering a way to buy bitcoin via its Easyid app? Let us know in the comments section below.