Sliema has been making it to frontpage headlines after the first Bitcoin ATM of Malta got installed recently. This Venture Trading operated ATM offers a bevy of services like the quick conversion of Bitcoin to Euro.
Since the introduction of Bitcoin way back in 2009, the digital currency has gained widespread appreciation and recognition as a means of transferring value on a global platform. It can be traded/exchanged for Yen, Dollars, Euros and a host of other currencies.
One of the significant features of this virtual currency is that its value does not get affected by change in the value of any other form of global currency. Its value is determined by open market transactions through buying and selling in similar lines with property or stock. Bitcoin’s market demand is the sole factor affecting its value in terms of price change.
With the cabinet already showing a green signal to Blockchain strategy and regulators being pushed by gaming operators to grant cryptocurrencies its much deserved legal status, the introduction of Bitcoin ATM ’s has been bang on time. This is expected to foster hassle-free transactions among causal users thus slowly making even the reluctant of customers to come under its wing.
Also Read: Peach, Japanese Airlines is considering to install Bitcoin ATMs at the airport
Ivaja, a local start up is toiling hard to give Malta the status of being a Bitcoin island by conducting crowdfunding campaign for launching Malta’s foremost Bitcoin ATM. Several people feel that Bitcoin is not yet ready to enter the Malta territory although there lies an unexplored mine of potential which is expected to go great guns. Both the iGaming and Finance Industry of Malta is showing keen interest in the Bitcoin field. This is leading to a rapidly growing bitcoin community in Malta. And if the decision makers are able to create favourable plying fields for the Bitcoin industry to operate then Malta can surely poise much threats to the current Bitcoin magnet countries in days to come.
Japan gave legal recognition to Bitcoins earlier this year as a means of payment. With 1385 registered cryptocurrency ATM’s all around the world we can surely keep great expectations from this dynamic digital currency.
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