Media Markt, an electronic shop chain in Austria, has opted to install Bitcoin ATMs. Kurant vending machines now accept Bitcoin withdrawals. Kurant is a German international retailing chain.
Media Markt has a huge footprint across Europe. The European Union has been relatively receptive to cryptocurrency adoption, and a number of firms have already entered the burgeoning industry.
Media Markt began testing the ATMs and also the pilot installation in collaboration with Coinfinity and its offshoot Kurant.
With rising customer interest, crypto ATMs would be an excellent method for clients to easily swap fiat currency for cryptocurrencies. Initially, testing took place at one of Media Markt’s shops in Vienna, before the retailer settled on 12 sites.
Attract New Clients Through the Launch of Bitcoin ATMs
Kurant vending machines, a spinoff of Coinfinity, would be used to purchase Bitcoin. Kurant now operates over 200 Bitcoin ATMs. All of these ATMs are located across Europe, including Austria, Germany, Greece, and Spain.
Installing such devices in retail locations might draw more novices to the bitcoin ecosystem, according to Kurant’s Managing Director, Stefan Grill.
Austria was a European pioneer in the acceptance of Bitcoin and the development of Bitcoin ATMs. Austria presently has around 139 Bitcoin ATMs, also known as Bitcoin Teller Machines (BTM).
Bitcoin vending machines have been placed across the country’s MediaMarkt locations. These are currently accessible on twelve marketplaces and enable easy and safe cryptocurrency purchases, according to Thomas Sperneder, Kurant’s Europe Head of Marketing and Sales.
Cryptocurrency transactions are much less expensive than transactions with conventional institutions or fiat money. These BTMs will enable Bitcoin users to both withdraw and deposit fiat currency. By scanning a wallet address, Satoshis, Bitcoin’s smallest unit, may be withdrawn.
Other Major Retailers’ Adoption Of Crypto
Numerous retail players across the world have gradually embraced and warmed up to cryptocurrencies by dipping their toes into the world of digital assets. Other nations, such as Croatia and Mexico, have lately entered the young BTM industry.
Konzum, Croatia’s largest food manufacturer and retailer, accepted a variety of digital assets as payment. Among the digital assets were well-known currencies like Bitcoin, Ethereum, Ripple, and USDT. The firm partnered with a local fintech startup, Electrocoin, which pioneered Croatia’s first crypto payment system.
Electrocoin ensures that a buyer receives a set exchange rate at the start of the transaction and that the transaction is completed successfully.
Elektra, a Mexican grocery chain, has teamed with BitBay to enable consumers to pay bills using cryptocurrency rather than traditional currencies. Elektra, on the other hand, remains culpable for losses and frauds caused as a result of the dangers associated with processing cryptocurrency payments.
Also Read: US Democratic Lawmakers Call on EPA to Inquire Into Crypto Operation’s Environmental Impact
