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Kosovo plans to introduce its first Bitcoin ATM

23 July 2017 21:00, UTC

Pristina, the capital of Kosovo, is planned to be the place where the country’s first Bitcoin ATM operated by Albvision Ltd IT systems will be installed, Coindesk reports.

As became known, the ATM will support Bitcoin and 10 more cryptocurrencies in the future. The company plans to install Bitcoin ATMs in two more Balkan countries: in the city of Tirana situated in Albania, and in Skopje in the Republic of Macedonia.

Bitcoin technology enthusiasts embraced the decision to install the ATM, believing that the education of the public and the Bitcoin state regulation acceleration will help to mitigate the threat that, as the Central Bank assumes, the circulation of cryptocurrency contains.

Valmir Hazeri, chief operations officer of a local bitcoin company Bitsapphire, thinks that the installation of the ATM will help Bitcoin attract more new users, while the risk of losing money is real only when an operator doesn’t know how to use this ATM properly.

In turn, the Kosovo Central Bank, the main financial regulator in the country, warned Kosovo’s citizens that there is no institution guaranteeing the reimbursement of money that is lost due to cryptocurrency operations. The statement stresses: the lack of regulation deprives the digital currency users of any protection.