Eftpos machines accepting bitcoin with CoinJar's Swipe card

With the general release of CoinJar's Swipe card, customers will be able to use bitcoin to pay for everyday transactions through an Eftpos terminal.

CoinJar has announced the general release of CoinJar Swipe, an Eftpos card that allows people to use their bitcoins to make purchases at any Australian store with an Eftpos terminal.

CoinJar Swipe cardholders will have instant access to their bitcoins, and will no longer have to wait days for a bank to clear a funds transfer into Australian dollars.

The general release of CoinJar Swipe -- available for a fee of AU$29 -- follows the company's successful five-month trial of the system last year. During the trial, 61 CoinJar Swipe cardholders used their cards to make nearly AU$30,000 worth of everyday transactions on Eftpos terminals.

CoinJar marketing lead Samuel Tate said CoinJar Swipe will enable bitcoin holders to use their digital currency beyond trading or peer-to-peer transfers.

"We're working to make bitcoin a stable and more useful digital currency for everyone, and we believe the release of CoinJar Swipe is one of the missing pieces to that puzzle," he said.

"People are already using their cards daily to pull out cash or make everyday purchases, but it will be fantastic to give everyone the ability to use their CoinJar every day."

Earlier this month, CoinJar introduced hedged accounts to allow users to peg the price of bitcoin against a number of currency options, including Australian dollars, US dollars, British pounds, and euros.

This means that users who buy or hold bitcoin at AU$400, for example, will be able to retain exactly AU$400 worth of bitcoin in their hedged account, regardless of whether the value of bitcoin fluctuates.

The Bitcoin startup company has progressively been growing its footprint, and made the decision to move its corporate headquarters to London's Docklands region late last year. It believed that the relocation would help it tap into the United Kingdom's "progressive" digital currency sector.