Cryptocurrency News

Prague Metro Receives Ten New General Bytes Bitcoin ATMs

Prague-based Bitcoin ATM manufacturer General Bytes have installed 10 new cryptocurrency ATMs throughout the Prague Metro, one of the busiest subways in Europe, with a daily payload of more than 1.2 million people.

The Czech Republic now has 46 Bitcoin ATMs, 34 of which are located in Prague. General Bytes are the Czech-born company whose machines have been installed. The company published an update on its website of the location of each new ATM. The new machines are located at these stops on the Czech Metro: Mustek, Nadrazi Veleslavin, Dejvicka, Florenc, Cerny Most, Zlicin, Pankrac, Flora, Skalka, and Hlavni Nadrazi.

About General Bytes

Founded in the Czech Republic in 2013, General Bytes are now Europe’s biggest and the world’s third largest cryptocurrency ATM manufacturers. Their headquarters remain in Prague, but in 2016 they also opened a US operation, with a GB factory and offices in Florida. General Bytes also maintain offices in both the UK and Estonia, with all contact numbers listed on their website.

There are more than 3,000 Bitcoin ATMs in the world, and almost a third of those have been manufactured by General Bytes. The company has its machines installed in every major city in the world, and as well as Bitcoin, their ATMs support the purchase and sale of Litecoin, Dash and Monero.

Czech Republic Remains Largest Crypto Hub In Europe

Unlike many other countries, the Czech Republic has always had a healthy relationship with blockchain technology and cryptocurrency. Today, many Czechs use cryptocurrency, and in Prague, one can do everything from rent a room in a hotel and pay for a meal in a restaurant to purchase an education using Bitcoin. As a result, the Czech Republic is the largest cryptocurrency market in Europe.

Thus far, the Czech government have remained undefined regarding their stance on cryptocurrency. In general, Bitcoin-using locals would say the government is seen to be relatively friendly toward cryptos.

The subject is certainly under discussion, but early signs are very positive; the Czech National Bank recently published a leaflet  entitled “Don’t be Afraid of Bitcoin,” playing down any threats brought by cryptocurrency to the traditional monetary system, and declaring that “Prague is home to a strong community of cryptocurrency users.”

Last year, Czech electrical goods retailer Alza became the first large European shopping chain to add the option of cryptocurrency payments to its website and stores (pictured above).

In fact, the Czech crypto market is so big, one publication from a Czech National Bank stated:

“All of the electronic transactions using Bitcoin across the globe would only add up to 16% of the electronic transactions conducted between cryptocurrency and the Czech Koruna in the Czech Republic.”

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