Malta is in full digital transformation, enjoying rapid development towards the adoption of cryptocurrencies. While three pro-VC laws and Blockchain have come into effect in the country, a company named MoonZebra has launched the first two-way ATM Bitcoin in Malta.
Before reading the following: in the text we will use indifferently “ATM” and “vending machine” since the second is often used to define both.
Buy Bitcoin instantly
MoonZebra launched Bitcoin ATMs on the Maltese island on July 14, 2018. They will allow the purchase of crypto-currencies such as Bitcoin (BTC) and Litecoin (LTC) with local currency.
ATM Bitcoins protect users from possible hackers on online exchange services and the misuse of sensitive data, as well as other cybercrime issues.
They work just like traditional ATMs. The steps necessary to purchase crypto-currencies on an ATM Bitcoin are: the deposit of the fiduciary money, the entry of the public key, the receipt of the cryptocurrency thanks to the digital wallet specific to each user.
The bidirectional ATM Bitcoin allows the exchange between the fiduciary currency and the cryptocurrency.
Install Bitcoin ATMs again
Malta has already set up Bitcoin ATMs in the country. However, they were withdrawn last year, resulting in losses of more than € 3,000.
MoonZebra has signed a partnership with Leon Siegmund (aka Lee Winmouth), a proven supporter of cryptocurrencies and one of the founders of Bitcoin Club Malta.
Siegmund thinks that a reinstallation of an “ATM Bitcoin” is necessary. “It’s definitely going to interest more people,” he said in an interview with CCN :
“When I moved to Malta two years ago, there was not much about Bitcoin technology and decentralized accounting. But in the space of 2 years and thanks to the collaboration of many people, something very special happened. At the beginning of 2017, I met Jonas Abrahamsson at the Bitcoin Meetup in Gozo. We tried to find something that would be appreciated by the local Bitcoin community in Malta, and our first idea was to set up public bins on the island. They would be digital and reward the use with tokens – a great idea I must say, but that never came to fruition. I also had the idea to create a Bitcoin ATM. It’s very difficult to operate here because the banks are very hostile and do not want to support us, but after a lot of blood, sweat and tears, we are happy to start. “
Cryptocurrencies have a promising future in Malta. It is a hub for the industry, although the Maltese history of ATMs is quite hectic.
Four cryptocurrency specialists joined the MoonZebra team to complete the project. The team of professionals specializes in the maintenance and installation of digital currency teller machines.
What do you think about the installation of Bitcoin bi-directional ATMs in Malta? Comment in the comments section below.