Bitchain, a Catalonian bitcoin service, will launch their first ATM in the centre of Athens on 11 July. The company seeks to collaborate with Greek bitcoiners to promote digital currency in the midst of the crisis.

A Barcelona-based company, Bitchain.es specialises in bitcoin ATMs and until now has been targeting their services at Spanish-speaking customers. According to the map on the website, Bitchain has already installed 9 bitcoin ATMs in cities across Spain. However, the current crisis and the dramatic development of the bitcoin market in Greece prompted the start-up to set up a bitcoin ATM network there.

The first Bitchain ATM will be installed at the Centre of Innovation, The Cube, at 11:00 on Saturday, 11 July. The ATM will buy and sell bitcoins in exchange for euros. It will be possible to withdraw up to €1,000 per transaction despite the government control of the currency in the country. Bitchain also tweeted that their bitcoin ATM in Athens would have 0% service fee.

The first bitcoin ATM in Athens was installed in Orizontes bookshop by EasyBitLLC. However, this ATM only allows users to buy digital currency and does not have an option to buy bitcoins for euros which may be more desirable in the current situation in Greece. Bitchain machine will be the first two-way bitcoin ATM in Athens. 

Previously, CoinFox reported about the first bitcoin ATM that was installed in the Catalonian University in collaboration with BTCPoint. Michael Oliver, a professor at the Department of Information Technology and Communications (DTIC) stated that the goal was to encourage a discussion on the impact of Internet technologies on people's lives by educating the public on cryptocurrency use.

Aliona Chapel