First Two Way Bitcoin ATM Inaugurated in Malta

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Malta is certainly on the map where all things crypto and blockchain are concerned. The latest development was the launch of a new bitcoin ATM which is the first of its kind. The two-way bitcoin ATM is an initiative by the innovative company MoonZebra. It’s situated at the flagship Quicklets and Zanzi Homes offices on Tower Road in Sliema, an iconic location on the island.

Moon Zebra is a collaboration between Leon Siegmund (aka Lee Winmouth), a digital nomad and self-confessed bitcoin enthusiast and businessman Jonas Abrahamsson. Siegmund is one of the founders of Bitcoin Club Malta which regularly organizes events and meetups and which has over 1500 followers on Facebook.

two way Bitcoin ATM now installed in Malta

During the launch, Siegmund explained that the idea of a bitcoin ATM might not be so high tech, but this should definitely get people more interested in bitcoin and cryptocurrency in general. Leon believes that there is a massive potential for commerce and society as a whole to flourish with Malta as a hub for bitcoin and crypto.

Malta has had a bit of a chequered history with regard to bitcoin ATM’s in general. In 2017 the country’s first bitcoin ATM went missing, and charities were scammed out of over €3,000. However, Moon Zebra is out to change that perception with this new ATM. With a team of four crypto specialists, it specializes in maintaining and installing crypto ATMs and plans to launch a further two more in the coming weeks.

What’s a Crypto or Bitcoin ATM?

A Crypto ATM gives people the ability to get their hands on crypto similarly to how they would get cash. Users simply have to walk up to the ATM and deposit fiat cash, input their public key, and crypto will be sent to the wallet. Users can also convert crypto back into fiat with the two-way ATM. It gives people the ability to bypass exchanges and – on some levels – crypto ATMs could solve the issue of exchanges being centralized. Moon Zebra’s crypto ATM will initially only work with bitcoin although that could change in the future.

Source::  Jay Rosen.
AuthorTemitayo Olojede , temity@bitkonga.com
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