Pioneer: the first German bank to enter the business with BTC ATMs | News

Volksbank Raiffeisenbank Bayern Mitte eG is the first bank in Germany to set up BTC slots in its main branch

Thanks to the uncomplicated concept, the obstacle to investing should be lowered, especially for beginners

Other banks are more reluctant when it comes to crypto services

“Bitcoin is a relevant topic for all age groups. We have been seeing an increase in interest in cryptocurrencies among many customers for some time, ”said Andreas Streb, vice president of Volksbank Raiffeisenbank Bayern Mitte eG in a press release published at the end. June bank. For this reason, the decision was made to set up a BTC machine at the bank’s headquarters in Ingolstadt: “The Bitcoin machine is especially suitable for beginners and beginners without much experience with cryptocurrency.”

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Very simple: deposit cash and use it to buy crypto

In April, Volksbank Bayern Mitte eG already announced that it would introduce its own crypto asset trust and direct investing in BTC via current accounts. Now you should be able to deposit cash at the new ATM and exchange it for BTC. According to the bank’s press release, you need to register and have a wallet, and you can also use the new VR BitcoinGoCard.

Volksbank Bayern Mitte cooperates with Kurant, the European market leader in the sale of BTC machines, and Sutor Bank, which is the official supplier of the machine. At the beginning of July, the public did not know how high their share in the ATM’s turnover was.

Contract partner: Volksbank Bayern Mitte emphasizes “pioneering position”

A spokesman for Kurant commented on the launch of BTC-ATM at the Volksbank Bayern Mitte branch in Ingolstadt for BTC-ECHO as follows: “Volksbank Raiffeisenbank Bayern Mitte eG now highlights the launch of a bank’s first public Bitcoin ATM in Germany once again their pioneering position as Bitcoin experts.” It should be emphasized that the BTC vending machine in Ingolstadt is not the first crypto ATM in Germany: other providers have already launched about 50 such vending machines nationwide – Volksbank Bayern Mitte is only the first bank to offer this service. He also explains this in his press release.

Hartmut Giesen of Sutor-Bank commented on BTC-ECHO: “Above all, Volksbank Bayern Mitte is taking an important step forward by using Kurant’s Bitcoin ATMs under the Sutor license umbrella. installers, which of course is an important milestone for us. ”

Sutor Bank believes more banks will offer crypto services

Giesen continues: “We are confident that more traditional banks will open up to cryptocurrencies. For this we provide a regulated infrastructure with crypto ATMs, but also with our entire cryptocurrency offer as a service. With this platform, banks can offer cryptocurrencies without investing in technology and regulation. “Recently, the Savings Banks Association was supposed to incorporate cryptocurrency trading into its services. In March, it was even discussed at a joint press conference with Volks- und Raiffeisenbanken. But then they dropped it and instead this have developed a portfolio solution for tokenized securities such as real estatebonds introduced – because the risk from BTC & Co. it’s too big, reports BTC-ECHO.

Olga Rogler / Editor of finanzen.net

Image sources: Volksbanken Raiffeisenbanken, 3Dsculptor / Shutterstock.com

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