Skip to main content

Bitcoin ATM Installed in Georgia Amid Growing Interest in Crypto

Bitcoin ATM Installed in Georgia amid Growing Interest in Crypto

A new automated teller machine now offers Georgians a fast and easy way to buy and sell bitcoin and litecoin. Support for bitcoin cash has been promised, and other cryptos will also be added in the future. The ATM has been set up at a burger restaurant in the heart of the Georgian capital Tbilisi.

Also read: Crypto Business Is Now Legal in Belarus

Bitcoins and Burgers

Cryptocurrencies in Georgia have been gaining popularity in recent years. The country has become a regional leader in the adoption of bitcoin and blockchain technologies. A new cryptocurrency terminal has been set up in Tbilisi offering the opportunity to exchange bitcoins and litecoins with the Georgian lari. The company behind the initiative promises to provide support for bitcoin cash and plans to introduce other cryptos, like ethereum.

Bitcoin ATM Installed in Georgia amid Growing Interest in CryptoThe new BATM has been installed at the New York Burger restaurant between Tkvarcheli Street and Merab Kostava Street in the Georgian capital, not far from the 26 May Square. It is operated by a local firm called TPS. The company provides exchange services through cash terminals and an online trading platform.

According to Coinatmradar, another crypto ATM, which also supports bitcoin and litecoin transactions, can be found on 12 Shalva Dadiani Street in Tbilisi. Both teller machines are manufactured by the Prague-based company General Bytes.

Bitcoin ATM Installed in Georgia amid Growing Interest in Crypto

More and more people in the Caucasus believe cryptocurrencies are the future of money. According to Giorgi Cheishvili, programmer at TPS, the popularity of digital coins is growing every day, and the Georgian market reflects the global trends.

“Many people want to exchange their cryptos and a growing number of Georgians are interested in buying cryptocurrency,” he told the local news outlet Marketer. In his opinion, Georgia is a leading country when it comes to opportunities to obtain bitcoin and the like.

“Many are interested in crypto innovation and business,” noted Anthony Sollimon, manager of the New York Burger restaurant. “We want to create a convenient environment where they will be able to make the necessary transactions,” he added.

A Regional Crypto Leader

Bitcoin ATM Installed in Georgia amid Growing Interest in CryptoGeorgia is considered a pioneer in crypto legalization among countries in the South Caucasus. In the last several years, it has implemented blockchain technologies, both in the private and the public sector. Since 2016, the country’s land register has been maintained on a blockchain. Georgia is also home to one of the first bitcoin mining farms in the region.

Special courses are currently offered in Tbilisi for those who want to expand their knowledge of cryptocurrencies. Members of the Georgian crypto community have invited experts from EU countries to take part in the educational program.

Georgia’s neighbor Armenia has been trying to catch up in recent months. A bill to regulate cryptocurrency mining was introduced in Yerevan in February, as reported by news.Bitcoin.com. The proposed legislation offers crypto miners tax exemptions and other incentives. Operators of mining facilities will not be required to apply for any permissions or licenses. According to local experts, the draft law will effectively legalize cryptocurrency transactions.

Do you think the availability of bitcoin ATMs helps the adoption of cryptocurrencies? Share your thoughts in the comments section below.   

Images courtesy of Shutterstock, Coinatmradar, Google Maps.

Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin.

The post Bitcoin ATM Installed in Georgia Amid Growing Interest in Crypto appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/2pRgbUe
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more