Cryptocurrency ATM launch in Bulgaria

Cryptocurrency ATM launch in Bulgaria

According to the local Bulgarian crypto exchange declared on Social media that they launch Cryptocurrency ATM machine on Monday, the ATM will be launch in popular shopping complex in Sofia, the country’s capital. Cryptocurrency ATM will offering options in bitcoin and Litecoin as week as other popular alt-coins.

The Cryptocurrency ATM will do.

  • The customers will be buying a bitcoin as like bitcoin cash, Ethereum, Monero and Litecoins using Bulgarian lev, euro and US dollars.
  • The customers will also able to do exchange their bitcoin, Litecoin for Bulgarian lev.
  • The machine will also be able to issue contactless NFC cards to be used as crypto wallets.

The Local crypto exchange representative said that “We see the Bitcoin ATM as a natural progression of the service we offer our clients – namely, buying and selling cryptocurrencies with cash, Clients started asking whether they can visit our exchange at the evening, outside of working hours, during weekends, holidays, etc. We couldn’t offer such services, so the logical step was to install such a device.”

The representative of Crypto Exchange, Mr Petar said they faced regulatory and administrative constraints, but preferred to “do not talk about it”. And adding lines “we believe in look forward.” Bulgaria is member of European Union with a population of seven million, recently made buzz in the crypto-sphere when it was open that its government holds the second-largest Bitcoin stash in the world.

The Company considers ATM a chance to get more in Bulgarian involved and aware of cryptocurrency. Although, the company representative said that they emphasized the number of crypto traders and investors in the Balkan country that is more than most people’s expectations.

As for whether Bulgaria will see its second Bitcoin ATM soon, Petar was cautious, but optimistic. “Not in the foreseeable future, not in the next six to twelve months. Still, one cannot be certain with those sorts of things.”

 

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