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German Banks Can Offer ATMs Exchanging Bitcoin and Ether to Euro

The German Federal Financial Supervisory Authority (BaFin), has clarified that banks have the right to upgrade existing ATMs in the country to facilitate certain cryptocurrencies, according to Trustnodes.

The German FCA has announced that the country’s banks can take up the new option, but as yet none have responded to the opportunity to allow customers to exchange BTC or Ether for Euros using the machines.

Responding to a question by Thomas Lutze, representative of a left-wing party in Germany, BaFin stated:

“Each institute, which has permission for proprietary trading, also has the right to set up machines that allow the exchange of Bitcoin in euros and vice versa. So far it is not known that this was done.”

Its reported that the modification of the machines would offer QR code facilities to enable simple address scanning and modification.

Cryptocurrency ATMs are becoming far more commonplace around the globe, although Europe has a long way before it catches up with the US. Prague has recently seen the arrival of 10 new Bitcoin ATMs across the city’s subway routes, and London now has 74 positioned around the city, although 118 businesses also accept Bitcoin as payment.

However, London ranks 6th globally on the crypto convenience list, with the top five cities all located in North America. Los Angeles tops the list with 145 ATMs and over 850 firms accepting Bitcoin payments. Other cities with a healthy spread include Toronto, New York, and Atlanta. Argentina has expressed a desire to have a gargantuan total of 30,000 located across the nation and US capital Washington DC has recently doubled its ATM availability from 20 to 40 due to public demand.

There are reportedly six German banks currently trading cryptocurrency according to BaFin, although the banks haven’t as yet been named. It remains to be seen whether banks see enough customer demand to operate the service

However, German stock exchanges are seriously looking at cryptocurrency options for the future. Deutsche Boerse, the owner of the Frankfurt Stock Exchange, is evaluating whether to offer cryptocurrency products, according to Bloomberg. If this is the case, this will be the second German stock exchange to make announcements this year regarding a move towards the adoption of cryptocurrency related products, after Boerse Stuttgart Digital Adventures announced the release of its Bison app in April.

 

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The post German Banks Can Offer ATMs Exchanging Bitcoin and Ether to Euro appeared first on BitcoinNews.com.

Wired – Bitcoin's Street Sellers

Wired – Bitcoin’s Street Sellers:

Wired writer Robert McMillan (@bobmcmillan) makes some face-to-face, in-person trades and describes the experience.  Excerpts:

“Welcome to the quickest, most private way to buy the internet’s most successful digital currency: in-person and face-to-face.”

“Buttonwood meetups started in New York a few months ago and fanned out to San Francisco and Los Angeles. Buttonwood is an allusion to the May 17, 1792 agreement, struck under a buttonwood tree at 68 Wall Street, that set down the rules for what became the New York Stock Exchange.”

“After some haggling, Light types Copley’s Bitcoin address into his mobile phone and transfers just over half a Bitcoin ($50) to Copley’s digital wallet [for payment of silver bullion]”.

He used to buy and sell on a (temporarily shuttered) marketplace called Bitinstant. But a few months ago, ‘it started to ask for too much of my information,’ the student says. Given the nature of his business, he wants to buy Bitcoins without being tracked.

These are the kinds of deals that have regulators worried.

It’s traditionally been tough to quickly buy Bitcoins with U.S. dollars, and recently it’s become tougher.  […] That [regulation has] led to a pretty healthy off-the-books market for Bitcoin traders. […] Buyers and sellers can also hook up over Internet Relay Chat at #bitcoin-otc”

“Buyer’s Best Friend will give you Bitcoins back for cash, much like you can get cash back from a credit card, but you are supposed to purchase something first.”

“Though trading an obscure crypto currency may sound very modern, the whole transaction has a decidedly old-fashioned and human flavor to it.”

 – http://www.wired.com/wiredenterprise/2013/07/buttonwood
 – http://bitcointalk.org/index.php?topic=261116.0

All News – Daily E-mail Subscription – Twitter: @BitcoinNews

Wired – Bitcoin's Street Sellers

Wired – Bitcoin’s Street Sellers:

Wired writer Robert McMillan (@bobmcmillan) makes some face-to-face, in-person trades and describes the experience.  Excerpts:

“Welcome to the quickest, most private way to buy the internet’s most successful digital currency: in-person and face-to-face.”

“Buttonwood meetups started in New York a few months ago and fanned out to San Francisco and Los Angeles. Buttonwood is an allusion to the May 17, 1792 agreement, struck under a buttonwood tree at 68 Wall Street, that set down the rules for what became the New York Stock Exchange.”

“After some haggling, Light types Copley’s Bitcoin address into his mobile phone and transfers just over half a Bitcoin ($50) to Copley’s digital wallet [for payment of silver bullion]”.

He used to buy and sell on a (temporarily shuttered) marketplace called Bitinstant. But a few months ago, ‘it started to ask for too much of my information,’ the student says. Given the nature of his business, he wants to buy Bitcoins without being tracked.

These are the kinds of deals that have regulators worried.

It’s traditionally been tough to quickly buy Bitcoins with U.S. dollars, and recently it’s become tougher.  […] That [regulation has] led to a pretty healthy off-the-books market for Bitcoin traders. […] Buyers and sellers can also hook up over Internet Relay Chat at #bitcoin-otc”

“Buyer’s Best Friend will give you Bitcoins back for cash, much like you can get cash back from a credit card, but you are supposed to purchase something first.”

“Though trading an obscure crypto currency may sound very modern, the whole transaction has a decidedly old-fashioned and human flavor to it.”

 – http://www.wired.com/wiredenterprise/2013/07/buttonwood
 – http://bitcointalk.org/index.php?topic=261116.0

All News – Daily E-mail Subscription – Twitter: @BitcoinNews

Wired – Bitcoin's Street Sellers

Wired – Bitcoin’s Street Sellers:

Wired writer Robert McMillan (@bobmcmillan) makes some face-to-face, in-person trades and describes the experience.  Excerpts:

“Welcome to the quickest, most private way to buy the internet’s most successful digital currency: in-person and face-to-face.”

“Buttonwood meetups started in New York a few months ago and fanned out to San Francisco and Los Angeles. Buttonwood is an allusion to the May 17, 1792 agreement, struck under a buttonwood tree at 68 Wall Street, that set down the rules for what became the New York Stock Exchange.”

“After some haggling, Light types Copley’s Bitcoin address into his mobile phone and transfers just over half a Bitcoin ($50) to Copley’s digital wallet [for payment of silver bullion]”.

He used to buy and sell on a (temporarily shuttered) marketplace called Bitinstant. But a few months ago, ‘it started to ask for too much of my information,’ the student says. Given the nature of his business, he wants to buy Bitcoins without being tracked.

These are the kinds of deals that have regulators worried.

It’s traditionally been tough to quickly buy Bitcoins with U.S. dollars, and recently it’s become tougher.  […] That [regulation has] led to a pretty healthy off-the-books market for Bitcoin traders. […] Buyers and sellers can also hook up over Internet Relay Chat at #bitcoin-otc”

“Buyer’s Best Friend will give you Bitcoins back for cash, much like you can get cash back from a credit card, but you are supposed to purchase something first.”

“Though trading an obscure crypto currency may sound very modern, the whole transaction has a decidedly old-fashioned and human flavor to it.”

 – http://www.wired.com/wiredenterprise/2013/07/buttonwood
 – http://bitcointalk.org/index.php?topic=261116.0

All News – Daily E-mail Subscription – Twitter: @BitcoinNews

Wired – Bitcoin's Street Sellers

Wired – Bitcoin’s Street Sellers:

Wired writer Robert McMillan (@bobmcmillan) makes some face-to-face, in-person trades and describes the experience.  Excerpts:

“Welcome to the quickest, most private way to buy the internet’s most successful digital currency: in-person and face-to-face.”

“Buttonwood meetups started in New York a few months ago and fanned out to San Francisco and Los Angeles. Buttonwood is an allusion to the May 17, 1792 agreement, struck under a buttonwood tree at 68 Wall Street, that set down the rules for what became the New York Stock Exchange.”

“After some haggling, Light types Copley’s Bitcoin address into his mobile phone and transfers just over half a Bitcoin ($50) to Copley’s digital wallet [for payment of silver bullion]”.

He used to buy and sell on a (temporarily shuttered) marketplace called Bitinstant. But a few months ago, ‘it started to ask for too much of my information,’ the student says. Given the nature of his business, he wants to buy Bitcoins without being tracked.

These are the kinds of deals that have regulators worried.

It’s traditionally been tough to quickly buy Bitcoins with U.S. dollars, and recently it’s become tougher.  […] That [regulation has] led to a pretty healthy off-the-books market for Bitcoin traders. […] Buyers and sellers can also hook up over Internet Relay Chat at #bitcoin-otc”

“Buyer’s Best Friend will give you Bitcoins back for cash, much like you can get cash back from a credit card, but you are supposed to purchase something first.”

“Though trading an obscure crypto currency may sound very modern, the whole transaction has a decidedly old-fashioned and human flavor to it.”

 – http://www.wired.com/wiredenterprise/2013/07/buttonwood
 – http://bitcointalk.org/index.php?topic=261116.0

All News – Daily E-mail Subscription – Twitter: @BitcoinNews