Coinbase Expands Bitcoin Purchasing Service to Australia

Rage Comment : The Bitcoin purchase service of digital currency exchange provider Coinbase has been extended to Australia, and the Bitcoin selling function will be added later to expand the scale of the company's network. Currently, Australian dollar transactions can only be carried out on two exchanges, and the Bitcoin trading volume of these two exchanges is less than 2,000 Bitcoins. With the entry of Coinbase trading services into the Australian market, we do believe that this will become a large market in the future.

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Digital currency exchange provider Coinbase has expanded its bitcoin purchasing service to Australia, bringing the number of countries served by Coinbase to 33.

Coinbase announced today that it will allow users to buy bitcoin and ether with credit and debit cards, though users will not be able to sell the digital currencies yet.

Coinbase product manager Ankur Nandwani said the company was keen to expand its bitcoin buying service to Australia to grow its network, but hoped to add selling capabilities later.

“Each country that is new to Coinbase has its own unique approach to entering the market,” Nandwani told CoinDesk.

Coinbase is bringing trading services to a national currency that is almost impossible to trade: the Australian dollar.

According to data provided by Bitcoin Charts, the Australian dollar can only be traded on two exchanges, both of which have a Bitcoin trading volume of less than 2,000 Bitcoins.

However, Nandwani said Coinbase sees value in its investment in Australia.

“Even if the transaction size is not large now, we do believe that this will become a large market in the future,” he said.