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Europe’s electronics retail giant to install 12 Bitcoin ATMs in Austria

Media Markt, a retail giant agency based mostly in Germany, plans to install Bitcoin ATMs in 12 of its branches in Austria. If the transfer is profitable, the multinational firm will enable its clients to purchase Bitcoin utilizing Kurant merchandising machines.

Europe’s electronics giant to install Bitcoin ATMs

Media Markt began testing Bitcoin ATMs a couple of years in the past. At the time, it was assessing the viability of putting in Bitcoin ATMs in its shops in Vienna. Now, the corporate has determined to have Bitcoin ATMs installed in 12 of its branches based mostly in Austria.

Local shoppers who need to purchase Bitcoin can use Kurant merchandising machines. Kurant is behind the cinstallation of 200b Bitcoin ATMs in a number of European international locations, together with Austria, Germany, Greece and Spain.

The managing director at Kurant mentioned that putting in these merchandising machines in retail companies was certain to entice extra folks to cryptocurrencies. As the biggest electronics retailer in Europe, Media Markt operates greater than 1000 shops and attracts tens of millions of shoppers throughout Europe. In 2021, the corporate’s revenues surpassed $22 billion.

In 2021, Media Markt was the sufferer of a hacking assault that resulted in the corporate halting a number of providers. The hackers behind the assault demanded $240 price of Bitcoin, however the ransom was later diminished to $50 million price of BTC.

Growing crypto adoption

Retail giants globally have been speeding towards the cryptocurrency sector to entice and retain clients. Towards the top of final 12 months, Konzum, the biggest grocery store chain in Croatia, accepted using cryptocurrencies. The retailer units a hard and fast price for crypto to fiat conversions for a restricted time.

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Latin America has been particularly dedicated to cryptocurrency innovation. Elektra, a number one grocery store chain in Mexico, introduced a partnership with BitPay to enable clients to make invoice funds utilizing Bitcoin as a substitute of fiat currencies.

Despite launching this service, Elektra reminded its clients that dealing in cryptocurrency transactions got here with a excessive stage of danger. It added that the retailer wouldn’t be held chargeable for any losses brought on by cryptocurrency investments.

A press release from Elektra on the time mentioned that “the user accepts and recognized that the access, use, and security of his wallet is the sole responsibility of the user and at no time is Elektra, nor will be responsible for the access, use and security of the user’s wallet.”

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