Prague announces more Crypto ATM Machines to meet rising demands!

 

This week’s featured article comes to us with inspiration drawn from our friends in the stunning city of Prague. This week one of the world’s largest and most pioneering Bitcoin ATM manufacturers – General Bytes installed ten more Bitcoin ATMs across the Czech Republic.

The ATMs have been placed around various points around the City’s busy subway station which attracts over 1.6 million commuters per day and is considered one of the busiest commuter zones in Europe.

The function of the Crypto ATMs allows its users to easily exchange fiat currencies into Bitcoin almost instantly. By scanning the QR code from the Bitcoin Wallet the user can view the funds and begin using them at a variety of outlets.

It’s no shock that the city of Prague has welcomed these ATMs which will mean the country now has 46 Cryptocurrency ATMS dotted around. This means that the Czech republic now boats more Crypto ATMs than The Netherlands, Italy and Spain.

Readers who are familiar with the city can find the ATMs in the following locations; Můstek, Nádraží Veleslavín, Dejvická, Florenc, Černý Most, Zličín, Pankrác, Flora, Skalka, and Hlavní Nádraží. More information about the locations can be found here on the official General Bytes website.

The Czech government is among the few major governments in the world that hasn’t declared an official stance on how they think the role Cryptocurrencies will play in future economics. This differs from neighboring states such as Germany and Austria. In 2017 a leading figure in the Czech National Bank released an official report titled; “Don’t Be Afraid of Bitcoin”. The report outlines some great use cases for Bitcoin and more importantly how the technology of Blockchain could provide solutions for major problems.

The ATMs will also be welcomed by corporations based in the Czech Republic many of whom have already began announcing plans to allow its members to use Bitcoin to pay for goods and services. The adoption of Bitcoin payment solutions has crossed multiple sectors including; Accommodation, Energy providers, Restaurants, and online retailers. Some of these sectors boast well-known companies that have incorporated Bitcoin into their payment options. These include the likes off; Pražská Plynárenská, Prague Siesta Apartments, BioOko and Cukarna Alchymista.

 

Who is General Bytes?

General Bytes is a company based in the Czech republic who has an international presence for being one of the leaders in Crypto ATMs. According to Research conducted by Coinatmradar, there are 3122 official Cryptocurrency ATMs all over the world. General Bytes is responsible for 858 of them.

The majority of Crypto ATMs are based in the North America Region (around 1965 Crypto ATMs) however other countries which have begun implementing these ATMs include; United Kingdom, Russia and the Netherlands.

 

How can you use one of these Crypto ATMs?

Quite simply actually.

  1. Chose which language you would like to use
  2. Scan the QR code from your wallet
  3. Insert the cash into the machine
  4. Click the Buy Bitcoin option on the screen
  5. And then check your Bitcoin Wallet to see the currency on the website.

For a more detailed look at how to use the ATMs check out the video section from the General Bytes website which can be found by clicking here.

 

That wraps up this week’s feature. What are your thoughts on the new developments of Bitcoin ATMs? Are they simply a fad or here to stay?

While you’re here check out our fifth edition of This Week in Blockchain where we highlight some of our top Blockchain stories from last week.

If you think anything should be included on next week’s round up or if you would like us to explore another feature from the world of Blockchain, drop me an email on ash@akeo.tech