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Bitcoins / Breaking News

Bitcoin ATM Roll Out Set To Hit Greek Islands

Bitcoin ATM’s allow users to purchase and manage Bitcoin wallets through physical outlets that are becoming more common across the world. Bitcoin ATM’s can be installed anywhere you’d expect to see a traditional cash machine, be that in shops, bars or even on high streets.

The roll out of these machines is being managed by a Greek group by the name of Thess Cash Hellas. Thess Cash Hellas will oversee the installation of these new machines across the country.

As it stands, there are already around five crypto ATMs in Greece, which give users the ability to buy and sell Bitcoin, Ethereum, Litecoin and Dash. As you can see, there is clearly a demand for cryptocurrency in the country, Thess Cash Hellas want to enable this and give more people than ever access to cryptocurrency.

According to the Greek Reporter, a Greek news website:

“The need for cryptocurrency ATMs is driven by cryptocurrency users, some of whom prefer to avoid centralized financial institutions like banks. Other cryptocurrency users are just looking to access tied up assets quickly while on the move by allowing withdrawals in fiat from cryptocurrency balances; which is exactly what cryptocurrency ATMs permit. A recent report by the market research firm, MarketsandMarkets, says that the global cryptocurrency ATM market is expected to hit $144.5 million by 2023. This would be a massive rise of eight-fold from the current $16.3 million.”

Globally there is the need for this sort of technology, by keeping up with that trend, Thess Cash Hellas are ensuring that Greece is not left behind out of the trend.

Furthermore, this past few months alone provide great evidence to prove that the demand for Bitcoin ATM’s is on the up, according to the MarketsandMarkets research:

“The expected rise wouldn’t come as a surprise to many, with the Bitcoin ATM market up from just around $6.8 million last year according to some estimates. It has, however, gone up by more than 50% over the past few months. The research also pointed out that as the cryptocurrencies continue to grow, so will the number of ATMs and the transactions conducted through them.”

References

Greek Reporter


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As a key writer for Crypto Daily, Nathan’s role entails the creation of cutting edge news articles, reviews, press releases and general content creation. Nathan’s stories strive to include the most up-to-date cryptocurrency news and affairs, contributing to Crypto Daily’s growing network. Nathans previous experience as a researcher, working on University standard projects means he has a wealth of experience in writing, from academic thesis publication to independent research projects. By applying these research skills to Crypto Daily, we can ensure the content creation team really do know what they are talking about.