Greece Cryptocurrency ATM Units Set To Rise As Bitcoin Adoption Grows
ATMs are one of the most effective ways to spread cryptocurrencies to the masses. For the vast majority of citizens, interest in the digital currency markets is overshadowed by a general fear of the massive technical learning curve involved in the process of obtaining the currency. In the status quo, possessing or getting ahold of cryptocurrency is a process that involves creating multiple accounts and learning about a complicated cryptography and encryption setup that serves as a prerequisite to many wallets and exchange sites.
But with access to an ATM, constituents can easily access their cryptocurrency. In some cases, a wallet might not even be required in the traditional sense in order for someone to use a cryptocurrency ATM to exchange their fiat money for digital currencies. Cryptocurrency ATMs function very similarly to existing ATMs that distribute fiat money. Users have the opportunity to use their login information to trade cash or credit money for a variety of cryptocurrencies. While Bitcoin is by far the most popular crypto in the world, there also exist ATMs for nearly every popular cryptocurrency currently on the market.
In Greece especially, cryptocurrency ATMs have taken off. While Greece is not the only country using Bitcoin ATMs in an attempt to gain revenue and gauge public interest in Bitcoin, the government has been incredibly effective at making the machines popular and helping to spread mass adoption of the currency within its borders.
Greece Doubles Down On Bitcoin ATM's
Having already seen the introduction of the first cryptocurrency ATM in the borders of the unique and economically distressed European nation, Greece has now made the decision to double down on Bitcoin and make headway on the introduction of more machines all over the country. In fact, Greece plans to introduce four more Bitcoin ATMs to their expanding market, bringing the total amount up to five.
Much of the work installing the new machines is going to come from cryptocurrency entrepreneur Stefanos Gestopoulos, an expert already renowned for his company’s creation of sophisticated automated-teller technologies that integrate cryptocurrencies in the modern era. But he isn’t the only one vying for the attention of the government on these important contracts.
According to some sources, several companies within Greece are trying to work with local authorities to install their own cryptocurrency ATMs in the area.
An Expanding Crypto Scene
Greece (besides a crypto hot spot, best known for it's mythology and Gods, notably Zeus and Hera) is not the only country exploring the prospect of cryptocurrency ATMs. Nations all over the world have seen the introduction of new ATMs, especially following the massive price hike seen by many alternative digital currencies earlier last year.
Greece is not the only country exploring the prospect of cryptocurrency ATMs. Nations all over the world have seen the introduction of new ATMs, especially following the massive price hike seen by many alternative digital currencies earlier last year.
A statistic from researchers at Coinatmradar found that there are currently over 3,500 crypto ATMs all over the world, hidden within 70 different countries. Oddly enough, South America dominates the scene, holding 70% of the total cryptocurrency ATMs on the planet at the moment. The continent is followed closely behind by Europe, and then by Asia.
Greece is yet another country becoming more interested in the budding crypto ATM market, an industry which will continue to entice more citizens to participate in the complicated crypto markets.