Moon Zebra, a Maltese cryptocurrency startup, has announced launching a two-way crypto ATM, which allows users to use Euros to buy and sell Bitcoin and Litecoin. Malta is regarded as one of the the most crypto-friendly countries and has attracted a lot of crypto businesses and companies in the recent years.
Making it easy to buy bitcoin
In a statement, Moon Zebra Co-founder, Markus Behmann, said that since the start of blockchain technology, traders have been having difficulties in buying cryptocurrencies using fiat. He noted that the company has been exploring several ways of trading cryptocurrencies, which can be used by average traders. According to Markus, the new ATMs will enable clients to buy and sell Bitcoin in a simple and quick way.
Several exchanges are already using the ATM
Moon Zebra’s ATMs are produced by General Bytes. Some of the leading exchanges that are using General Bytes two-way ATMS are Digitalx, Kraken, Quadrigacx, Cointrader, TheRockTrading, Bitfinex, Coinbase and Bitstamp. Moon Zebra charges 8.3% to buy and 6.2% is the transaction fee to sell.
On his side, Jonas Abrahamsson, the CTO of Moon Zebra said that the ATM mainly targets both the high-end users, as well as new starters. The machine completes transactions as low as 50 euros. The ATM has been set up at Quicklets head office on the Sliema seafront.
The ATM was launched in an event attended by many cryptocurency and blockchain enthusiasts. The launch was followed by a live demonstration on how the ATM is used. For a start, the ATM is only offering trade in Bitcoin and Litecoin with plans to add more coins in the future. Additionally, the new facility will allow new crypto traders to set up virtual paper wallets and will also be given both public and private keys, which are similar to the IBAN and password in traditional banking. The keys are used to access the account.
Steve Mercieca, founder and CEO of Quicklets said that his company has been an ardent supporter of digital currencies and blockchain.