Greece to receive 1000 bitcoin ATMs

BTCGreece and virtual currency provider Cubits are planning to deploy 1,000 bitcoin ATMs in Greece. Economic problems are driving this Greek interest in bitcoin, according to a report by The Business Insider.

Currently, Greek citizens are only allowed to withdraw 60 euros ($66) per day, and bitcoin offers a way to get around these restrictions. BTCGreece founder Thanos Marinos believes bitcoin has great potential in Greece.

“Partnering with best of breed companies in the bitcoin space will enable us to provide the Greeks with solutions that will ease the difficulties of the capital controls. Bitcoin adoption is happening and in a very fast pace,” Marinos said. “Bitcoin in Greece is not just hype but a solution to day-to-day problems of people and businesses under capital controls. Also, a key factor is that the trust of the traditional banking system is long gone and people are open to bitcoin.”

Marinos said he has received requests from 300 businesses in Greece asking for a bitcoin ATM. He currently plans to roll out the first batch in October.

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