100 bitcoin ATMs are set to be launched in Spain over the next 3 months, according to CryptoCoinsNews.
The ATMs will be manufactured by PayMaQ, which has 10 years’ experience in the vending machine business. The ATMs are subject to the same local laws governing vending machines, the exception being that users will have to supply their ID/passport when opening an account.
Bbank will distribute the machines.
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Most of the ATMs will be in Madrid, Valencia and Barcelona. They will be capable of both buying and selling bitcoins and there are future plans to add other cryptocurrencies.
A one-way ATM has already been installed in Barcelona, timed to coincide with the Mobile World Congress, to be attended by Bitcoin Foundation Executive Director Jon Matonis.
The final exchange rate will be the traded price on Bitstamp plus 3%.
Bitcoin activity has been picking up in Spain, with banking conglomerate Santander recently running a challenge to devise a Bitcoin strategy for banks.