Cryptocurrency ATMs To Multiply In Greece

Cryptocurrency ATMs have been becoming popular in multiple countries and will follow suit in Greece. As reported by Greek Reporter, a local company wants to bring more cryptocurrency ATMs to Greece. A cryptocurrency entrepreneur Stefanos Getsopoulos says he plans to have three Bitcoin ATMs brought to the northern part of the country. After these three have been installed, there will be a total of five such ATMs in the country.

As one of Europe’s most economically distressed countries, it got its first crypto ATM in the 2015. More people are moving towards crypto due to financial instability and trust in the government to manage it.

Though virtual currency prices have been on the decline, there still has been an increase in popularity. According to Coinatmradar, there are about 3,687 crypto ATMs across 70 countries around the world. South America has the most with being the home of more than 70 percent of all such ATMs. Europe and Asia come second and third respectively.

While Greece looks to expand, Russia authorities have been slowing down the growth. Recently, reports have said that 22 Bitcoin ATMs were seized across nine cities in Russia without warning. This tactic is to prevent illegal activities in the country’s financial market. State officials believe that these ATMs increase the possibility of unregulated cross-border transfers and other illegal financial activities.