First Crypto ATM Machines to be Launched in Bulgaria

Business » FINANCE | July 21, 2018, Saturday // 12:26| Views: | Comments: 0
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Bulgaria: First Crypto ATM Machines to be Launched in Bulgaria

We dream of the day when crypto ATM machines are more common in our high streets than badly tuned guitars held by crusty buskers. When we think of the cutting-edge crypto industry, Bulgaria is hardly a place that jumps out from the crowd, however, they are about to launch their first ever crypto ATMs in news released this week.

Bulgaria will be the next nation to have two-way crypto ATM machines. A local Bulgarian crypto exchange, DG Cash, announced the news on social media this week that they are launching the new machine on Monday in one of Sofia’s most popular shopping centers,

Inaugural crypto ATM machines

We might not naturally see Bulgaria as a shining beacon of crypto evolution, but that is exactly what is happening, and kudos to them. The launch on Monday will see the new ATM offer options in bitcoin, litecoin and a few other of the most popular altcoins.

The news has been popular in many quarters citing that it is a natural progression that crypto ATM machines are now becoming something we are seeing more of. With so many people now buying into crypto, which is just the beginning, it only makes sense to give crypto users an alternative to access their crypto in the easiest possibles ways.

Via the news ATMs, customers will be able to buy a variety of cryptos with cash that will include bitcoin, ethereum, bitcoin cash, monero, litecoin, and the Bulgarian Lev. Bulgarian crypto ATM users will be issues anonymous NFC cards as crypto wallets.

ATMs in line with regulations

People close to DG Cash have mentioned that the exchange did encounter a variety of hurdles in their pursuit to launch these crypto ATM machines, but apparently they “prefer not to speak about it” and that “it’s in the past now and we look to move forward.”

Relatively speaking, Bulgaria is not the largest country in the European Union, with approximately 7-million inhabitants, but it surprised the crypto community when it was revealed that the nation had the second largest bitcoin stash in the world earlier this year.

The move to install the ATMs is being seen as a great chance to get more Bulgarians involved in crypto and blockchain. The nation is obviously already well versed on the industry with many users coming from all walks of life from different backgrounds to make up the Bulgarian crypto-sphere.

DG Cash has been doing very well itself with a trading volume of 2.45 million Euros since the end of 2017. Word is around the campfire that DG Cash has already purchased its second crypto ATM machine, but this one will be installed in Malta, where DG also operates. In fact, it will also be the first ever ATM machine of its kind to be launched in Malta, so let’s look forward to that.

I have a dream where crypto ATM machines are more common than US congressman gaffs, and as we see in Bulgaria, it is getting much nearer than we think.

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