A dozen Bitcoin ATMs installed at the largest EU electronics retailer

Austrians have “sufficient funds” for more Bitcoin ATMs — that’s the verdict that MediaMarkt, a German electronics retailer, reached following a successful Bitcoin ATM pilot in Austria. 

MediaMarkt has rolled out Bitcoin (BTC) ATMs in 12 branches across the country, including Seiersberg and Klagenfurt. Confinity and its spinoff ATM company, Kurant, manage over 200 Bitcoin ATMs in Austria, Germany, Spain and Greece.

Kurant’s Head of Marketing & Sales, Europe, Thomas Sperneder told Cointelegraph:

“MediaMarkt stores across the country have been equipped with Bitcoin vending machines. In total, these are now present in twelve markets and enable the simple and secure purchase of cryptocurrencies.”A Bitcoin ATM in Austria. Source: Kurant

A successful pilot project featuring a lone Bitcoin ATM in a MediaMarkt shop proved that “Bitcoin ATMs in shops offer an opportunity to attract new customers.”  Sperneder explained to Cointelegraph that the “purchase of Bitcoin and cryptocurrencies was associated with digital-savvy people,” but ATMs offer an alternative:

 “In order to get hold of Bitcoin easily and safely, stationary vending machines open up a low-threshold alternative for the purchase of cryptocurrencies.”

As Europe’s largest consumer electronics retailer, MediaMarkt operates in 13 countries, with over 850 stores and revenue exceeding 21 billion euros ($23 billion) in 2021. MediaMarkt partnered with Coinfinity, an Austrian Bitcoin company, to manage the pilot and subsequent rollout of the ATMs.

Bitcoin ATMs by Kurant (Coinfinity) across Europe. Source: Kurant

Bitcoin ATMs (automated teller machines), sometimes jokingly referred to as BTMs (Bitcoin teller machines), offer Bitcoin enthusiasts a means to cash out their BTC or deposit fiat. By simply scanning a wallet address, they can receive satoshis (the smallest denomination of BTC) or cash.

 The news of more Bitcoin ATMs coming to Austria is welcome, considering that the growth in Bitcoin ATMs around the world has slowed in 2022.

Related: Santo Blockchain to deliver 50 Bitcoin ATMs to Panama

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