Greece Has Sixth-Most Cryptocurrency ATMS in European Union – The National Herald

ATHENS – Cryptocurrency costs are in free fall, plummeting 60 p.c in a 12 months, nevertheless it’s nonetheless sufficient in demand in Greece, pushed by vacationers, that the nation ranks sixth within the European Union for the variety of Bitcoin ATMs.

There are 64, principally concentrated within the capital Athens and second-largest metropolis Thessaloniki, stated Coin Telegraph, but in addition on in style islands together with Mykonos and Santorini, operated by BCash.

The corporate’s Director and Co-founder Dimitrios Tsangalidis instructed the location that probably the most use nevertheless comes within the cities however that they’re in style on the largest island Crete, the place there’s a “very loyal cryptocurrency crowd.”

Cryptocurrency is an encrypted information string that denotes a unit of foreign money. It’s monitored and arranged by a peer-to-peer community known as a blockchain, which additionally serves as a safe ledger of transactions for getting, promoting, and transferring.

In Heraklion, the capital of Crete, the native start-up accelerator H2B Hub collaborated with Cyprus’ College of Nicosia to create and assist a neighborhood blockchain group, the report famous

However whereas tourism is Greece’s greatest income engine, seen this 12 months bringing in additional than 20 billion euros ($19.29 billion) throughout the waning COVID-19 pandemic, he stated it hasn’t translated for crypto customers.

“Sadly, absolutely the reverse occurs,” stated Tsangalidis, bemoaning the truth that most Greeks have completely no concept what bitcoins are nor the best way to use cryptocurrency or wish to achieve this but.