Crypto’s Blockchain Island Malta Sees First Two-Way Bitcoin ATM Installed

2018-7-25 00:43

Malta Outdoors Its First Bitcoin ATM

Malta, the country at the forefront of Blockchain Technology and Cryptocurrency adoption has scored another point by launching a first two-way Bitcoin ATM.

Media reports indicate that the Automatic Teller Machine which can be found at the head office of the Quickelts on the Sliema seafront was unveiled in an event attended by numerous Blockchain industry players. In fact, the function illustrated how to use Malta's first ever Satoshi ATM.

According to the Times of Malta, the Teller Machine provides selling and buying of Bitcoin and Litecoin instantly with more Cryptocurrencies coming on board soon. The development has created the opportunity for Maltese Crypto aficionados to have ready access to paper wallet as well as public and private keys.

“Quickelts has always been at the forefront of supporting new technologies in the market,” Steve Mercieca, founder and CEO of Quickelts was quoted as saying. “This is the second cryptocurrency ATM the QLZH Group is hosting in its offices.”

Mercieca disclosed his company believes the future lies in this and it is going to become the means everyone will transact. He revealed that they were immediately convinced when the operators of the ATM, Moon Zebra approached them to set up the machine. The CEO also mentioned the move is in accordance with their business strategy.

Prevalence of Bitcoin ATM

As a matter of fact, Malta is not the only country where Bitcoin ATM machines are springing up. It is reported that the United States has 2133 Cryptocurrency Automatic Teller Machines with the Detroit metro hosting 88 and others in the Michigan state.

Also, Canada accounts for 602, the UK boasts 166, and Austria holds 144. Even African countries like South Africa, Kenya and Zimbabwe owes Bitcoin ATMs.

In June, the Schipol Airport in Amsterdam became the first European airport to install an ATM offering Crypto Exchange. This machine allows travellers to buy and Exchange Bitcoin and Ethereum.

Though not every country on earth has an ATM, however, it is gradually becoming a common feature.

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