Australia may prove to be a hotbed for cryptocurrency activity. Binance, the world’s leading crypto exchange, has started a new project in the city of Adelaide.
Bitcoin and Australia have always formed an interesting relationship.
Adelaide x Cryptocurrency Payments
It is one of the few countries somewhat open to the use of cryptocurrencies, for a variety of purposes.
Adelaide is now shaping up to be one of the biggest cryptocurrency hubs in the country.
Binance is looking to turn this city in a region where stores and other locations simply accepted Bitcoin and other cryptocurrencies.
To achieve that goal, they will have to provide the necessary solutions to business and the local mall.
So far, it appears up to 20 business location in Rundle Street may be interested in accepting cryptocurrency payments in the future.
Among the supported currencies are Bitcoin, Litecoin, Binance Coin, and other currencies to still be officially announced.
It is crucial to make cryptocurrencies more “spendable” before this form of money can gain any semblance of mainstream traction.
Even in 2019, it is often too cumbersome to spend Bitcoin and altcoins on goods and services, if that is even an option at specific locations or websites.
What is remarkable regarding the Adelaide version is how Binance aims to provide a “free” solution to businesses embracing cryptocurrency.
There will be no signup fee, no monthly costs, and no transaction fees to deal with.
How viable this approach will be in the long run, is a different matter altogether.
For now, the main objective is to get as many Adelaide businesses as possible to give cryptocurrencies a try as a payment method.