The first 2-way bitcoin ATM was inaugurated in downtown Athens on Saturday at The Cube, a coworking space that houses several innovative startups. And many find that through this very ATM they can overcome Greece’s capital controls.
The 2-way (bitcoin to euro and vice versa) ATM machine was installed by Spanish startup company Bitchain. Joaquin Fenoy, the company’s 36-year-old chief technology officer (CTO), believes that installing the machine might help Greeks during the crisis. After the implementation of capital controls, Greek citizens are able to withdraw only 60 euros per banking account. But this doesn’t apply to bitcoin. —First Bitcoin ATM in Greece Promises Limitless Transactions Amidst Capital Controls