A Local Bulgarian Crypto Exchange Installs the 1st Crypto ATM in Bulgaria
Bulgaria is a member of the EU with 7 million people living in it. It lately attracted the public’s attention when it announced that it has the world’s second-largest bitcoin inventory.
A cryptocurrency exchange in Bulgaria, DG Cash, is planning to install a crypto ATM in one of its shopping malls in the capital city, Sofia. The ATM will enable its customers to exchange digital currencies with cash or vice versa. And, it will provide them with several choices of alternative coins including Litecoin and Bitcoin.
The Purpose of Installing a Crypto ATM
In an exclusive statement to one of the crypto news portals, DG Cash’s representative said that they consider the cryptocurrency ATM as an essential enhancement to their services as their clients were constantly asking for after-hours services.
The ATM will enable its users to exchange Litecoin, Bitcoin Cash, Bitcoin, Monero and Ethereum with the local Bulgarian currency, USD or Euros. And, exchange their Litecoins or Bitcoins with the local currency. The ATM will also produce NFC tags that can be utilized as crypto wallets.
The exchange’s representative also stated that they have faced some regulatory obstacles along the way but, they chose to look ahead. He added that the company hopes that the ATM will draw more Bulgarians into the crypto industry despite the fact that the number of locals in the crypto industry surpasses anticipations. He added that crypto customers come from different sociocultural and educational backgrounds.
A Second Crypto ATM Machine
The exchange’s volume of trade is estimated at € 2.45M as of December. And, according to the representative, the exchange has purchased another Bitcoin ATM machine that it plans to install in Malta. However, it is not clear when they will install a second crypto ATM in Bulgaria.