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Greece Gets Its First 2-Way Bitcoin ATM

Four-month old Bitcoin startup Bitchain has installed the first 2-way Bitcoin ATM in Athens, Greece. The ATM has been installed at a Greek co-working space TheCube in the light of the recent liquidity crisis.

The ATM will facilitate Bitcoin to Euro and vice-versa conversions in order to help the citizens of the cash-strapped nation. The ATM has a daily withdrawal limit of €1,000, which exceeds the daily ATM withdrawal limit of €60 in Greece by €940.

Bitchain employee Adrian Verde said, “The banks are withholding the people’s own money and a bitcoin ATM could help in such a situation.

Joaquin Fenoy, Bitchain’s Chief Technological Officer said, “It’s very good for people in the Third World, who are now dependent on Western Union and services like that. Someone in one part of the world could put in money, and a family member could take it out in Africa, for example. That is one of the objectives: remittances.


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