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Electronics Retail Giant Media Markt to Install 12 Bitcoin ATMs

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German electronics chain Media Markt is set to roll out 12 Bitcoin
22
Apr
    • Bitcoin ATMs will be installed at 12 MediaMarkt locations, including Seiersberg and Klagenfurt.
    • In partnership with Coinfinity and its spinoff Kurant, MediaMarkt managed the pilot installation and testing of ATMs.
    • With increased client interest, Bitcoin ATMs provide an excellent opportunity for users to exchange coins or fiat currency.    

Media Markt, a German international chain of consumer electronics retailers with over 1000 stores in Europe, plans to install 12 Bitcoin ATMs in Austria.

Austria is one of Europe’s frontrunners in Bitcoin adoption and ATM deployment. The country has 139 operating Bitcoin ATMs or BTMs (Bitcoin Teller Machines), according to Coinatmradar.com.

Bitcoin, Litecoin, Bitcoin Cash, Ethereum, XRP, Dash, and Dogecoin are the most popular coins offered in the ATM exchange.

Notably, the Bitcoin ATM rollout will be made possible by a collaboration with Kurant. Kurant is a spin-off of Coinfinity. The company has established over 200 Bitcoin ATMs in Austria, Spain, Greece, and Germany.

The company is currently testing the viability of Bitcoin ATMs in its stores and will soon expand the ATM service. Furthermore, the crypto user base is expanding, and customers are eager to spend their digital assets.

In an interview, Thomas Sperneder, Kurant’s Europe Head of Marketing and Sales stated:

Bitcoin vending machines have been installed in MediaMarkt stores across the country. These are now available in twelve marketplaces and allow for the simple and secure purchase of cryptocurrencies.

Although some crypto transactions are cheaper than traditional institutions, the sheer volume makes up for it. Since COVID19, the crypto market’s growth has skyrocketed. In the future, customers of the electronics retailer Media-Markt will be able to purchase cryptocurrency.

These machines allow Bitcoin lovers to cash out their BTC or deposit fiat currency. They can obtain satoshis (the smallest denomination of BTC) or cash just by scanning a wallet address.

Sperneder believes that having Bitcoin ATMs in stores helps retailers “participate financially in the stationary selling of cryptocurrencies.”

Initially, a successful pilot run with one Bitcoin ATM in a MediaMarkt store proved that “Bitcoin ATMs in businesses provide a chance to attract new customers.”

Spender confirmed that “purchasing Bitcoin and cryptocurrency was for digital-savvy people,” but ATMs provided an alternative. These machines provide a low-threshold alternative for purchasing cryptocurrencies, making it easier and safer to obtain Bitcoin.”

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