Blockchain Island Malta Gets Its First Two-Way Digital Currency Teller Machine
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Answer Blockchain Island Malta Gets Its First Two-Way Digital Currency Teller Machine
After enacting three new laws to legislate the world of blockchain and cryptocurrency in Malta that set the standards for regulating these spaces, we now have the launch of the first two-way Bitcoin ATM by innovative company MoonZebra.
Automated teller machine
The “Moon Zebra” teller is a collaboration between Leon Sigmund (aka Lee Wynmouth) and aims to spread awareness and facilitate the process of buying and selling bitcoin and cryptocurrencies.
Sigmund explained that the idea of a Bitcoin ATM might not be high tech, but that this would definitely make people more interested in Bitcoin and cryptocurrencies in general according to his statement.Read:US company Binance aims for public listing within three years
He added, “When I moved to Malta two years ago, there was not much going on with blockchain technology or bitcoin and decentralized ledger applications. But in just two years and thanks to the collaborative effort of so many people, something very special happened.”
The story began at the beginning of 2017, when Sigmund interviewed Jonas Abrahamson at a Bitcoin meetup in Gozo and we tried to find something that could be appreciated by the local Bitcoin community in Malta and stated: “Our first idea was to set up public trash cans on the island. This fund will be digital and will reward each person with a number of tokens or cryptocurrencies which is a great idea I have to say but it never came to fruition.”
It is very difficult to work here because the banks are very hostile and do not want to support us, but after so much blood, sweat and tears, we are happy to release it.
The first two-way Bitcoin ATM
Malta has a checkered history regarding the implementation of Bitcoin ATMs in general. In 2017, the first Bitcoin ATMs in Malta vanished, and nearly 3,000 euros were stolen. However, Moon Zebra is ready to change that perception with this new ATM.Read:Bitcoin stagnates at $40K and cryptocurrency FIL up 11%
What is the new device for Bitcoin?
Residents and visitors of Malta will be able to buy digital currencies (such as Litecoin and Bitcoin) directly against cash and fiat currencies. The device works in three steps:
- cash deposit
- Enter your wallet address
- Choose the currency and then it will be sent to the wallet
The user can also send digital currencies to the device and receive cash and notes directly. The move comes to facilitate the adoption of digital and cryptocurrencies in Malta and to motivate individuals to deal with Bitcoin and other digital currencies on a larger scale.
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