The process of purchasing and managing Bitcoin wallets is greatly assisted through the physical presence of Bitcoin ATMs. The presence of such ATMs across the world has started to become more prevalent as they can be inserted in any location where a traditional fiat ATM machine is currently present.
The process of installing such Bitcoin ATMs is being handled by a group of Greek individuals that go by the name of Thess Cash Hellas. The Thess Cash Hellas plan to conduct the installation of the new Bitcoin ATMs across the entirety of northern Greece.
At the moment, five Bitcoin ATMs are present across Greece that allow consumers to purchase and sell cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Dash. Through the presence of these ATMs, it is quite evident that there is a stable demand of cryptocurrencies across the country and Thess Cash Hellas aim to facilitate the spread of these Bitcoin ATMs and provide the people across Greece easier access to cryptos.
“The need for cryptocurrency ATMs is driven by cryptocurrency users, some of whom prefer to avoid centralized financial institutions like banks. Other cryptocurrency users are just looking to access tied up assets quickly while on the move by allowing withdrawals in fiat from cryptocurrency balances; which is exactly what cryptocurrency ATMs permit. A recent report by the market research firm, MarketsandMarkets, says that the global cryptocurrency ATM market is expected to hit $144.5 million by 2023. This would be a massive rise of eight-fold from the current $16.3 million.”
The want for such a technology world over gives Thess Cash Hellas a clear indication of the need to capitalise on this desire, which it does so by facilitating the presence of Bitcoin ATMs across Greece. In doing so, it ensures that Greece is not left out behind the rest of the world in the process. The Greek Reporter adds:
“The expected rise wouldn’t come as a surprise to many, with the Bitcoin ATM market up from just around $6.8 million last year according to some estimates. It has, however, gone up by more than 50% over the past few months. The research also pointed out that as the cryptocurrencies continue to grow, so will the number of ATMs and the transactions conducted through them”.
The research conducted by MarketsandMarkets suggests that the past few months have been indicative of the rising demand for Bitcoin ATMs. Since interest and demand for cryptocurrencies continue to rise, the need and desire for ATMs to conduct these transactions is set to rise along with it.