Cryptocurrency ATMs are set to become more popular in Greece following plans by a local company to install more of the machines. Cryptocurrency ATMs continue to become more popular, with units being installed in different countries on a regular basis.
More Cryptocurrency ATMs Coming to Greece
According to the Greek Reporter, a local company wants to increase Greece’s total number of cryptocurrency ATMs. Stefanos Getsopoulos, a cryptocurrency entrepreneur, says his company has plans to install three Bitcoin ATMs in the northern part of the country.
When completed, this move will take Greece’s total cryptocurrency ATM count to five. According to Coinatmradar.com, there are four virtual currency ATMs in Athens, and one in the city of Thessaloniki. Local media sources say other companies are looking to install more of such machines in the future.
Greece, one of Europe’s most economically distressed countries got its first cryptocurrency ATM in mid-2015, installed by BTCGreece. With the declining confidence of the Greek people in the ability of their government, more residents are adopting cryptocurrency.
Cryptocurrency ATMs are winding up more well known over the globe. This expansion in prevalence hasn’t been influenced by the decrease in virtual money costs since the beginning of 2018.
Information from Coinatmradar demonstrates that there are 3,687 digital money ATMs spread out in excess of 70 nations around the world. South America still leads the route with in excess of 70 percent of all virtual money ATMs. Europe and Asia involve the second and third positions separately.
While there are plans to install more of such machines in Greece, Russian authorities appear to be cracking down on cryptocurrency ATMs. On Sunday, reports emerged that 22 Bitcoin ATMs were seized across nine cities in Russia without any form of warning or prior notice.
According to further details released by some inside sources, the seizure is part of a systematic drive to prevent illegal activities in the country’s financial market. State officials also believe that cryptocurrency ATMs, which enable the conversion of digital currency to fiat, opens up the possibility of unregulated cross-border transfers and other illegal financial activities.