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April 25, 2022
THE LARGEST EU ELECTRONICS SHOP IS PLANNING A DOZEN BITCOIN ATMS.
More Bitcoin (BTC) ATMs are needed in Austria since the country has “sufficient wealth.” Following a successful Bitcoin ATM trial in Austria, MediaMarkt, a German electronics shop, has come to this conclusion.
At Seiersberg and Klangenfurt, MediaMarkt will install Bitcoin ATMs in 12 of its locations. According to the Austrian daily Kleine Zeitung, a test experiment with a single Bitcoin ATM at a MediaMarkt shop shown that “Bitcoin ATMs in businesses give a chance to attract new clients.”
MediaMarkt is Europe’s largest consumer electronics retailer, with over 850 outlets and revenue forecast to surpass €21 billion ($23 billion) in 2021. To oversee the trial and eventual distribution of the ATMs, MediaMarkt teamed up with Coinfinity, an Austrian Bitcoin business.
Over 200 Bitcoin ATMs in Austria, Germany, Spain, and Greece are managed by Confinity and its spinoff ATM firm, Kurant.
A Bitcoin ATM (Automated Teller Machine), also known as a BTM (Bitcoin Teller Machine), is a machine that allows Bitcoin users to cash out or deposit fiat currency. They may get Satoshis (the smallest unit of Bitcoin) or cash by just scanning a wallet address.
The announcement that additional Bitcoin ATMs will be arriving to Austria is excellent, especially as the global expansion of Bitcoin ATMs has halted since 2022.
Due to a lack of regulatory framework, the UK’s Financial Conduct Authority recently cracked down on unregistered ATMs.
BitBase, a Spanish Bitcoin ATM operator attempting to expand into Portugal, has opened physical locations in Lisbon, although formal openings have been delayed by regulators. The future of Bitcoin and crypto in the EU is uncertain, given the EU’s “assault” on noncustodial wallets.
The announcement that additional Bitcoin ATMs will be coming to Austria is excellent, especially as the global expansion of Bitcoin ATMs has halted in 2022.
Due to a lack of regulatory framework, the UK’s Financial Conduct Authority has imposed new restrictions on non-registered ATMs.
BitBase, a Spanish Bitcoin ATM operator looking to expand into Portugal, has opened physical locations in Lisbon, although formal openings have been delayed by regulators. The future of Bitcoin and crypto in the EU is dubious in light of the EU’s “attack” on noncustodial wallets.