Europe’s largest electronics retailer to roll out Bitcoin ATMs (Report).

The German multinational chain of stores selling electronics – Media Markt – will reportedly install Bitcoin ATMs in 12 branches across Austria. Kurant vending machines will allow customers to buy the most popular cryptocurrency.

After Testing – Time for Action

Media Markt began investigating whether or not it could install bitcoin ATMs in one of its Vienna stores a few years back. Fast forward to today, and it is reported that it has decided to do so at 12 branches throughout Austria.

Local clients can use Kurant vending machines to buy Bitcoin. It is a spin-off from Coinfinity. There are currently 200 Bitcoin ATMs operating in many European countries, including Austria, Germany and Spain.

According to Stefan Grill – Kurant’s Managing Director – installing such machines in the retail business could attract more newcomers to the cryptocurrency ecosystem.

Media Markt is Europe’s largest electronics retailer. It was founded in 1979 and has more than 1,000 stores. This makes it a popular shopping destination for millions of people in Germany, Austria and Switzerland, Italy and Belgium. Media Markt’s revenue for 2021 surpassed $22 billion.

Last year, cybercriminals compromised the company and blocked several key services. The hackers demanded $240million worth of bitcoin in exchange for the encryption data. The ransom was then reduced to $50,000,000 in BTC.

Retail giants embrace Crypto

Over the past few months, large retailers from all over the world have been slowly making their way into digital assets. It is worth mentioning a few companies that have joined the digital asset revolution in recent months.

At the end of 2021, Croatia’s biggest food producer and a leading supermarket chain – Konzum – accepted several digital assets as payment methods. These include Bitcoin (BTC), Ether(ETH), Ripple, XRP, Tether (USDT), Bitcoin (BTC), Ether [ETH], Ripple (XRP), Ripple) and many other digital assets.

The retailer collaborated with the local fintech company Electrocoin, known as Croatia’s first crypto payment processor. It provides sufficient time to ensure that the transaction is executed successfully and guarantees a fixed exchange rate for the buyer.

Shortly after, Mexico’s leading supermarket chain – Elektra – partnered with BitPay to enable customers to pay their bills in bitcoin instead of fiat currencies. The organization reiterated that cryptocurrency trading comes with risks and Elektra shouldn’t be held responsible for any losses, frauds or mismanagements.

“The user accepts and recognizes that the access, use, and security of his wallet is the sole responsibility of the user and at no time is Elektra, nor will be responsible for the access, use, and security of the user’s wallet.”

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