Australians Can Now Buy Their Groceries Using Five Cryptocurrencies

By Prashant Jha

In another major step towards making cryptos mainstream, Australia has gone ahead to allow its citizens to make regular payments in crypto for even buying their grocery. myCryptoWallet, one of the leading crypto exchanges in the country has launched myCryptoCard which would allow its users to spend their crypto at one million locations and also cash out crypto through 30,000 ATMs.

The latest initiative from the exchange would allow the users to spend major cryptocurrencies in Australia for their day-to-day transactions. The myCryptoCard would work on Australia’s universal payment network EFTPOS, and the card would work just like a debit card issued by the bank.

The crypto balance would be deducted from the user’s myCryptoWallet account and the firm promises a smooth functioning.

How myCryptoCard is Different Than Other Similar Initiatives

To begin with, the card supports multiple cryptocurrencies instead of just bitcoin. The latest initiative promises flexible spending and the firm is already looking to add 50 more altcoins in near future to make crypto usage a daily norm for the Australians.

The other major benefits of using the myCryptoCard are that it does not charge you any fee for adding, converting, or withdrawing the cryptocurrencies. This might turn out to be a decisive factor in attracting a larger user-base since most of the people are frustrated over the dozens of charges that most of the exchanges implicit on crypto use.

myCryptoWallet CEO Jaryd Koenigsmann believes that the myCryptocard is a big milestone in making crypto use mainstream. He says,

“We’re taking a big step to make cryptocurrency a bigger part of offline daily life. Whether it’s a cup of coffee, groceries or new pair of jeans, Australians can now pay in crypto with the myCryptoCard.”

“myCryptoCard will play a major role in bridging the gap between cryptocurrency and the mainstream. The cards mean consumers have the flexibility to use crypto where, how and when they like, and do away with so many of the fees that come about when exchanging back and forth between crypto and fiat.”

Conclusion

myCryptoWallet is a crypto market place based in Melbourne, Australia. It offers a number of services to its customers including fiat deposits, crypto debit card, and withdrawal wallet services. Australia has been at the forefront not only in terms of making crypto mainstream but also utilizing the Blockchain technology for better food quality management and food tracking.

The recent launch of its myCryptoCard would only strengthen its position both in terms of making crypto usage a reality and also push other crypto related service providers to look for similar measures and take crypto beyond the trade marketplace.