Greece to Receive 1,000 Bitcoin ATMs as Trust in Banks ‘Long Gone’
Bitcoin service provider and exchange Cubits has partnered with Greek bitcoin exchange BTCGreece to install 1,000 bitcoin ATMs and help small and medium sized businesses move money. “We are creating the ecosystem of bitcoin and blockchain solutions in the Greek market.” BTCGreece founder Thanos Marinos told CoinTelegraph. “That will include the rollout of 1,000 ATMs and solutions for the e-commerce and tourism industry. Partnering with best of breed companies in the bitcoin space will enable us to provide the Greeks with solutions that will ease the difficulties of the capital controls.”....
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Greece has closed its banks and imposed capital controls to prevent financial chaos after the breakdown of bailout talks with its international creditors, The Financial Times reports. The decision comes at the end of a weekend that brought Greece closer to "Grexit" - the potential exit from the Eurozone and perhaps the European Union (EU) itself - and confronted Europe with a serious crisis. The banks in Greece and the Athene Stock Exchange will remain closed until at least July 6, the day after the referendum on the austerity measures demanded by the country's creditors. In the meantime,....
Despite record-breaking numbers this past summer tourist season, the local crypto scene in Greece sees no impact, says co-founder of local BCash Bitcoin ATMs Dimitrios Tsangalidis. Greece is globally recognized for its touristic lures of idyllic beaches and a laid-back lifestyle. Prior to the outbreak of the global pandemic, the World Travel and Tourism Council said that tourism generated over one-fifth of Greece’s total GDP.This year, the country faced a record number of travelers during its summer tourism season. In the month of August alone, the country received nearly 1 million travel....
Authorities in Greece have banded together a special team of cyber sleuths to safeguard Greek banks from cyber-attacks after a malicious hacker group demanded a bitcoin ransom with the threat of further DDoS attacks. In yet another instance of the infamous hacked group 'Armada Collective' targeting banks, the online operations of three Greek banks were rendered offline for a few hours last week, in a demonstration of their malicious hacking abilities. The group threated to attack again unless the banks paid a bitcoin ransom before Monday. The deadline is today, as reported by Greek....
The overnight implementation of capital controls in Greece, as the government looks set to default on its IMF loan repayment, has led citizens to explore other methods for moving their savings out of the country. The Greek government announced on June 28 that banks in the Mediterranean country would remain closed for the next week. The government also imposed capital controls to prevent the flight of money internationally. Let’s look at some of the ways Greeks may be able to exchange their funds for bitcoin, before the expected default on the repayment of the IMF loan on June 30. The BBC....
Four-month old Bitcoin startup Bitchain has installed the first 2-way Bitcoin ATM in Athens, Greece. The ATM has been installed at a Greek co-working space TheCube in the light of the recent liquidity crisis. The ATM will facilitate Bitcoin to Euro and vice-versa conversions in order to help the citizens of the cash-strapped nation. The ATM has a daily withdrawal limit of €1,000, which exceeds the daily ATM withdrawal limit of €60 in Greece by €940. Bitchain employee Adrian Verde said, "The banks are withholding the people's own money and a bitcoin ATM could help in such a situation."....