Bitchain, Spanish Bitcoin Startup, Deploys Two-Way Bitcoin ATM in Athens


Bitcoin ATM Athens Bitchain

In a /r/Bitcoin AMA, Bitchain claims that it has installed two-Way Bitcoin ATM in Athens. The Spanish Bitcoin startup appears to think there if there is any opportunity for Bitcoin this is now when Greece is amidst the huge financial crisis. Greece’s flirtation with Bitcoin could happen to the facts earlier than previously thought, this is the right opportunity for any Bitcoin company.

When asked whether Bitchain was trying to profit from the financial mess in Greece, the company replied that being a Bitcoin company it is far more important for it to increase Bitcoin adoption. The best part about it is that the machine doesn’t ask for id verification, the ATM is able to verify you in case the law requires it.

Bitcoin is emerging as a Leading Choice amidst Financial Crisis

The company informs that a volume for value of more than 2000€ have been exchanged this morning from around 25 transactions. Given the appalling course of events and the announcement of the extension of the economic measures, many Greeks have begun to contemplate the possibility of purchasing Bitcoins to maintain the value of its assets.

Moreover, as Greece is currently in crisis and under pressure to close urgent agreements with the European Union and even former Greek Finance Minister Yanis Varoufakis had stressed in various forums the characteristics of the most famous cryptocurrency, the scope for Bitcoin companies is growing manifold.

In such a situation a number of Bitcoin companies including of Bitcoin ATM services providers are trying to enter into the Greek territory. However, a major issue that Bitcoin companies may face is lack of awareness among users in the country, to solve this issue, Bitchain is giving presentations and helping out people know the digital currency.

Not many Businesses in Athens Accept Bitcoin

The presentations according to the company will help those who want to learn and get their first Bitcoins as it will help the digital currency become more mainstream than ever. Additionally, as there is not much that the people in Greece can do with Bitcoin thanks to less number of businesses accepting it, additional efforts has to be put.

Interestingly, people can pay in a few restaurants and stores in the city. To further the number of businesses accepting Bitcoin, they are hosting the next Athens Bitcoin meetup in where their ATM is located.

To contact the reporter of this story: Deepak Tiwari at