Media Markt To Install Bitcoin ATMs In Austria

Media Markt, a German multinational chain of retailers, has announced that it will be launching Bitcoin ATMs in Austria. The multinational chain will be installing these ATMs all over the country enabling users to withdraw Bitcoin from Kurant vending machines

Media Markt enjoys a great presence around Europe. The European Union has embraced crypto positively and since then many firms have entered the emerging space.

Media Markt has collaborated with Coinfinity and Kurant, its spinoff, and the company has begun testing the ATMs along with the pilot installation.

Crypto ATMs will facilitate the smooth exchange of fiat currency with digital assets with increased client interest. Media Markt has finalized 12 locations after its initial testing in Vienna at one of its stores.

Bitcoin ATMs To Attract New Clients

As of now, Kurant has around 200 Bitcoin ATMs. The ATMs are located in different European locations including Germany, Austria, Greece, and Spain.

Stefan Grill, Managing Director at Kurant, said installing such machines in the retail business would be helpful in attracting more newcomers.

Austria was among the first countries to embrace Bitcoin adoption and install ATMs in the European Union. Cut to today, Austria has around 139 operating Bitcoin ATMs which are called Bitcoin Teller Machines (BTM).

Thomas Sperneder, Europe Head of Marketing and Sales at Kurant stated that Bitcoin vending machines are available in twelve marketplaces and enable a secure and simple purchase of crypto assets.

As compared to traditional institutions or fiat currencies, transactions in crypto are much cheaper. BTMs will enable BTC users to withdraw crypto and deposit fiat currencies. The smallest unit of Bitcoin, Satoshis can be withdrawn by scanning a wallet address.

Crypto Adoption By Big Retail Players

Through slowly diving into the universe of digital assets, several retail players have embraced cryptocurrencies. Countries such as Croatia and Mexico have recently entered into the budding space of BTM sector.

Leading food producer and supermarket chain in Croatia, Konzum has accepted many digital assets as payment methods, including leading cryptocurrencies such as Bitcoin, Ethereum, USDT, and Ripple.

The firm partnered with Electrocoin, a local fintech company and the first-ever crypto payment predecessor of Croatia.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing