Europe’s Retailer Media Markt To Roll Out BTC ATMs

Europe’s retailer Media Markt will install Bitcoin ATMs in its 12 Austrian branches and customers can now buy the leading cryptocurrency at the vending machines so let’s find out more in today’s latest Bitcoin news.

The German chain of stores and Europe’s retailer that is likely biggest, Media Markt, will install Bitcoin ATMs in 12 branches in Austria. Customers will be able to buy the leading crypto at Kurant vending machines.
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A few years back, Media Markt started exploring whether and how to install BTC ATMs and it now decided to do so in 12 branches across Austria. To purchase BTC, the local clients will use Kurant vending machines and which is a spinoff of the Coinfinity and now operates 200 BTC ATMs in plenty of EU nations including Germany, Spain, and Austria but also Greece.

Stefan Grill, the Managing Director of Kurant said that installing such machines in the retail business can attract more newcomers to the crypto space. Media Markt is the biggest electronics retailer in Europe and was founded in 1979 with more than 1000 stores and became quite the attractive venue for millions of customers in Germany, Switzerland, and Austria but also Italy, Belgium, and the Netherlands. Media Markt’s revenue for 2021 surpassed $22 billion.

The company was breached by cybercriminals that blocked various key services and in exchange for releasing the encrypted data, the hackers demanded $240 million worth of BTC while the ransom was then reduced to $50 million in BTC. The larger retailers across the globe were making their way into the digital asset universe and with that said, it is worth giving a few examples of these companies that joined the trend. Back in 2021, Croatia’s biggest food producer Konzum accepted crypto payments in BTC, ETH, Ripple, and Tether.

The retailer collaborated with the local fintech company Electrocoin which is the first crypto payment processor and guarantees the buyer a fixed exchange rate at the start of the transaction and provides more time for successful execution. Right after, Mexico’s leading supermarket chain Elektra partnered with bitPay to enable customers to pay the bills in BTC and the organization even reminded that dealing with crypto hides more risks and Elektra should not be held accountable for losses, mismanagement, and scams:

“The user accepts and recognizes that the access, use, and security of his wallet is the sole responsibility of the user and at no time is Elektra, nor will be responsible for the access, use, and security of the user’s wallet.”