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Auction house to accept cryptocurrency in Australia first

Gareth Parker
Article image for Auction house to accept cryptocurrency in Australia first

One of Australia’s biggest resellers has become the first auction house in Australia to accept cryptocurrency payments, allowing bidders to purchase anything from a toaster to a Tesla.

Lloyds Auctions will accept the cryptocurrency but the seller is still paid in Australian dollars.

Chief operating officer Lee Hames said cryptocurrency payments will be accepted on tens of thousands of items per week.

“Bitcoin and Ethereum will be accepted by Lloyds Auctions and more currencies are coming onboard as the week progresses,” he said.

“It has really been driven by customer demand … mums and dads are coming forward and they’re asking would you accept cryptocurrency?”

Press PLAY to hear what can be purchased with cryptocurrency

(Photo: iStock by Getty Images.) 

Gareth Parker
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