Bitcoin ATM installed at Hungarian-Slovakian-Austrian tri-border area

A Bitcoin ATM allowing cash withdrawals and deposits in Hungarian forint and Euro banknotes has been installed in downtown Mosonmagyaróvár, located right next to the tri-border with Austria and Slovakia.

Operated by Shinrai Kft., the ATM, contributing to the brand expansion of Bitcoin trading network MrCoin, will be serving clients in the new sub-office of VirPay, opened on Friday, an online service offering bank-independent account management and other virtual financial services. This makes it the world’s first Bitcoin ATM to be commissioned in a service provider’s branch office.

The site, created by Shinrai Kft., has been offering Bitcoins for sale for a number of years. With the experience under their belt, they installed their first Bitcoin ATM in 2014 in the Anker pub in Budapest. It has since been used for more than ten thousand transactions. After the success they enjoyed in Budapest, the first branch office to be opened by VirPay, an online financial transaction service provider, offered an excellent opportunity for the installation of another Bitcoin ATM in a professionally fitting environment. The office is located in Mosonmagyaróvár, a town close to the Austrian and Slovakian borders, also known across the border as Wieselburg and Stari Grad, respectively.

“For years now, people have been told that Bitcoin is a passing fad, a bubble. However, the developments based on the Blockchain technology, which ensures the security of Bitcoins, are increasingly reshaping the environment of mainstream financial institutions as well,” said Barnabás Debreczeni, Managing Director of Shinrai Kft., commenting on the opening.

Moreover, the new ATM is capable of far more than its Budapest counterpart: this model, manufactured by GeneralBytes, can accept and dispense Euro and Forint banknotes alike. And, in addition to purchasing and selling Bitcoins, it will also be enabled to exchange Ethereum, Bitcoin Cash, and Litecoin. The ATM naturally supports transactions involving fractional units smaller than the exchange rate for one unit. The only constraint to pay attention to is the minimum purchase limit of HUF 5,000.

The company, based in London but also offering its services to Hungarians, serves clients with both online and telephone customer service, should any questions arise regarding the use of the ATM. “Getting to know the Bitcoin better is not only an excellent investment opportunity, but also a way to understand this new type of trust-based system. The experiences we have gained from the thousands of clients we have come into contact with over the past years confirm that customers’ doubts quickly go away as they use the system, especially with a helpful customer service supporting their trust in the system’s operability,” added Barnabás Debreczeni.