Europe’s 1st Bitcoin ATM Installed in Finland

Helsinki, Finland. A spot ideal-recognized for islands, forts and Linux pioneer Linus Torvalds, has created the news as the official residence of Europe’s initial bitcoin ATM.

Earlier this month, Swedish bitcoin exchange Safello announced that it would deploy the first bitcoin ATM in downtown Stockholm.

Nonetheless, it appears that Finland beat them to the punch, which is hardly surprising, given the long rivalry amongst the Scandinavian nations.

Railway tracks

According to Finnish exchange Bittiraha, who run the back-end systems, the machine has been installed in a record retailer at the Helsinki Railway Station.

Of course, this is not the first bitcoin ATM in Europe, as equivalent units have been deployed in Sweden and Slovakia, but this seems to be the very first permanent ATM in Europe.

The railway station is one particular of the busiest spots in the city: an estimated 200,000 people stroll via the lobby every day. The record shop, Levykauppa Ax, has a habit of experimenting with new advertising and marketing strategies.

Some may well argue that the decision to install a bitcoin ATM is just one more publicity stunt. Levykauppa Ax industrial director Jyri Lipponen stated:

“Actually, we aren’t certain about something when it comes to bitcoin, but we most certainly want to participate in something which could shake up the traditional foundations of society.”

The company also says it is looking into bitcoin integration for its e-commerce platform. The ATM will enable buyers to make purchases in bitcoin and to get bitcoins for cash in the retailer.

Lamassu overseas

The ATM is, of course, a Lamassu unit. The company shipped its 1st bitcoin ATMs back in October, but these have been destined for the US market.

However, Lamassu has also shipped units to Bratislava, Shanghai, Paris, Montreal, Sydney, Nimbin, Auckland, Copenhagen, Sao Paulo, Helsinki and Stockholm, of course.

The second batch, which was scheduled to ship in late November, included 25 units.

Lamassu CEO Zach Harvey told CoinDesk that the business is accepting orders for its third production run, which is scheduled to ship in the initial quarter of 2014.

View Europe’s 1st Bitcoin ATM Installed in Finland on CoinDesk.

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Europe’s 1st Bitcoin ATM Installed in Finland