BITOMATS IN BULGARIA AND AROUND THE WORLD
Bitcoin is one of the greatest inventions in the last decade and is arguably the most important since the Internet. Its creator, Satoshi Nakamoto is very mysterious but also described as intelligent and nothing short of visionary who actually wrote an academic paper on how his\hers product works. The least which could be acknowledged about the author of the first crypto currency is that he\she has an academic education and is a real genius. In the last ten years where created the first bitomats – Bitcoin ATMs which are now spread around the world but not in every country. This article centers on the active bitomats and their usage.
(Image1. and its information are not created by the author and are curtsy of the website: www.howmuch.net)
As you can see the undisputed winner by number of ATMs available in one country is USA – 1330. But compared to the overall population, Austria with 96 is the winner of most bitomats in a country with lesser density of people (8.7 million). All of the populated continents have a cut in the ownership of ATMs, with North America having the amazing 76.1%, Europe -2nd place with 18.8%, Asia – 3rd with 2.5%, Central and South America – 1.3%, Australia – 1.2% and Africa – 0.05% with only one bitomat for the whole continent(in Nigeria).
As far as my hunt for bitomats was successful, I only found just one Bitcoin ATM operating on the territory of Bulgaria and of course I’ll try to give you the general information about it.
The bitomat is property of the company Bitcoin Bulgaria (www.bitcoin.bg) and you can easily find its location on the: www.coinatmradar.com but in a nutshell it is in the capital Sofia and is actually pretty available. It is positioned in the building of Interpred World Trade Center Sofia – Wing B. The Interpred WTC Sofia is located just outside of the subway station F.Joliot-Curie – which is one the stops between Serdica I and Sofia Airport line.
After you reach the building and pass the security check in the lobby you can see the bitomat to your right next to the elevators. The ATM is available every day from 5AM to 23PM.
The menu on the screen is bilingual – Bulgarian and English. The transfer is made in 3 steps and you would require a Bulgarian currency – leva in order to buy Bitcoins. The machine only works in this way – only buying. The price of Bitcoin is with surplus charge of 5% and the minimum transfer would require no less than 5000 leva. You would have to insert the papers manually and you can use any note between 2 and 100 leva. The price for crypto currency is calculated on the average price circulating on the platforms Kraken, Bitpay and Bitstamp. The surplus charge is flexible and could double.
If you are using a paper QR code verification of your e-wallet, make sure it’s a very high quality, because the paper doesn’t have its own light source like the smartphones. The scan system is very sophisticated and could read any QR code without possibility of mistake.
After you choose the “Bitcoin Transfer” button, you will be notified with a transfer confirmation and then you have to press the screen anywhere to get it back at the start menu. This is done to prevent anybody from actually seeing your confidential information, even though after a while the screen refreshes itself.
The Bitcoin price is listed on the left and it is actualized on every 10-15 minutes on a regular day.
The creation of the crypto currencies is a wide-known fact but do mind the fact that there ever going to be issued only 21 million Bitcoins. In 2140 the Bitcoins won’t be available anymore because in 2017 already half of those have been given out. This is a trend which is predicted by the IT specialists and I find it very unlikely to be false. But nonetheless, out there many more people are looking forward to start their first transactions or to get into the business with bitomat distribution.
Disclosure: I have written this article for informative purposes and I didn’t receive payment from any of the mentioned companies and I don’t seek such a value for my work.
Written by: Lyubomir S. Evtimov