General Bytes, one of the world’s largest manufacturers of ATM machines based in Czech Republic has installed a total of 10 bitcoin ATM machines in Prague subway. The deployment of the ATMs will enable commuters of the Prague Metro to purchase and sell digital currencies at the different machines spread along the transit. Prague subway is one of Europe’s busiest metros serving more than 1.2 million every day.
ATM location and information
The company has updated its website and included a map that shows the different locations of all the ATM machines. In addition, the map has information on the operational hours of every machine and the type of transaction and cryptocurrencies supported by every ATM machine.
On the website, users are also instructed on how to down a mobile wallet to store their currencies before going to the ATM machines. This is to help then in the event that they encounter connectivity problems at any metro station shops where the machines are located.
Second largest crypto ATM manufacturer
Last month, General said that it had hit and passed the 1,500 milestone of bitcoin ATMs installed. This makes it the second largest producer of bitcoin ATM machines. According to information on its website, the company has installed a total of 1,621 ATM that support 121 digital currencies. The ATMs are spread in 41 countries around the world and have completed 1.5 million transactions.
Like many other countries, Czech Republic has been treating cryptocurrencies with a lot of caution. Although the country’s government has not put in place any regulate framework to categorize or regulate the sector, the tax authorities plan to categorize the currencies as personal property. This will automatically make profits earned on crypto transactions taxable.
Currently there are 46 digital currency ATMs throughout Czech Republic and 34 of these are installed in Prague. The U.S has the highest number of digital currency ATMs at 1965. North America accounts for 76% of all the installed ATMs.
According to General Bytes Marketing Manager, Martijn Wismeijer, the company is one of the forerunners in the blockchain industry having been in business from the very beginning.