Croatian Post"s Crypto Exchange 2 Months in: More Local Users, BTC, ETH, and XRP Favored by Customers
In December news.Bitcoin.com reported on the Croatian Post’s launch of their own crypto exchange service. After a pilot run in the tourist friendly city of Zadar, the program was expanded to 55 post office branches nationwide starting December 11. Now almost two months in, Croatian Post has provided an update to news.Bitcoin.com on the progress of the exchange. Local users of the service have increased since the pilot, and the most popular cryptos traded are BTC, ETH, and XRP.
Also Read:Croatian Post Launches Crypto Exchange Service at 55 Branches Locals and Tourists Alike Now Using Exchange Service
The Croatian Post crypto exchange service allows users to exchange crypto for Croatian kuna at 55 post office branches across the country. Supported cryptocurrencies are bitcoin core, ether, XRP, stellar, and EOS. According to the corporation, which is the largest postal provider in the Republic of Croatia, “During the pilot that was done in a tourist centre Zadar [the service] was mostly used by foreigners, but since the state-wide launch in December it became more and more popular with locals.” Croatian postage stamp.
The initial announcement in December pointed to the convenience for tourists, who want to easily convert their crypto to local currencies while traveling, stating: “In recent years, there has been an increase in the number of cryptocurrency users, who very often plan to travel to those places where they can convert their digital money to the national currency.”
Now that the program is becoming more popular with local users and not just tourists, the Croatian Post notes that “We are very satisfied with the volumes of the service. Of course, we are expecting much higher volumes of cryptocurrency exchange when the tourist season starts.” A buy option is also planned to be introduced soon, providing a crypto on-ramp for users. The most commonly exchanged currencies thus far are BTC, ETH, and XRP. The crypto calculator tool on the website announces that a buy option is coming soon. Most Popular Cryptos Exchanged for Croatian Kuna
Regarding the most popular cryptos, Croatian Post told news.Bitcoin.com: Most popular crypto exchanged is, as expected, Bitcoin, followed by Ether. Ripple is also quite popular. EOS and Stellar Lumens are also accepted, but not as commonly recognised and used.
The group further elaborated, “The service is quite new, only launched in December state-wide, so we don’t have many recurring customers and we don’t see any rules in the way people use this service. Depending on the time of the year and also on part of the country however we see a difference in resident and non-resident customers.”
As news.Bitcoin.com’s Kevin Helms recently reported, in addition to Croatian Post, similar services are also being offered by post offices in Liechtenstein and Austria. Should residents and tourists in Croatia wish to purchase or sell bitcoin cash (BCH), they can do so via a variety of payment methods on the private peer-to-peer trading platform local.Bitcoin.com.
What do you think about the progress of Croatian Post’s new service? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images courtesy of Shutterstock, Valentin Ivantsov, Croatian Post, fair use.
Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. Share this story: Tags in this story Bitcoin Services, croatia, croatian post, Cryptocurrency, Exchange, Post Office Related Hong Kong Crypto Exchange Bitspark Shuts Down Amid Coronavirus Outbreak and Protests EXCHANGES | Kevin Helms
Crypto exchange service provider Bitspark is shutting down next month despite reporting exponential growth following the launch of its cash… read more. These Are the Most Traded Tokens on Decentralized Exchanges Right Now EXCHANGES | Kai Sedgwick
The decentralized exchange landscape is evolving fast, with new liquidity aggregators and relays enhancing usability while reducing slippage. Trade volumes… read more. Graham Smith
Graham Smith is an American expat living in Japan, and the founder of Voluntary Japan—an initiative dedicated to spreading the philosophies of unschooling, individual self-ownership, and economic freedom in the land of the rising sun. Please enable JavaScript to view the comments powered by Disqus.