Bitcoins proving popular in Slovakia

slovakiabitcoin27 Dec 2013 / Prague Post – The installation of the first ATM machine dispensing digital currency bitcoin in the Slovak capital of Bratislava about one month ago has met with great interest among Slovaks, although the possibility to pay with the currency is still very limited in the country.

The machine, located in the center of Bratislava, has already performed over 200 transactions since it has been installed.

Slovak businessman Marián Jančuška who had installed the machine said that he had reckoned with a lower volume of transactions and that he was surprised by the demand for bitcoin.

The Slovak capital is one of the first 15 localities in the world where a bitcoin ATM has been installed and launched into operation.

“I want to promote bitcoin. It is my major interest, bigger than the profit from transactions,” Jančuška told ČTK.

Jančuška, who runs an IT consultancy business, has invested $5,000 (more than 100,000 Kč) in the purchase of the machine.

The ATM does not differ much from a digital parking machine. It communicates with users in Slovak and through the so-called QR codes that can be scanned with a smartphone, for example.

The system converts inserted euro banknotes into bitcoins and transfers the relevant amount to the buyer’s digital account.

The machine uses the latest bitcoin exchange rate. Its owner charges a fee amounting to 1 percent of the value of a transaction….. Read more

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