download

Bitcoin Suisse AG has installed the first bitcoin ATM in Basel. Several new machines are planned to appear in Switzerland within next 6 weeks.

With the new ATM in Basel, the total number of the Bitcoin Suisse AG machines across Switzerland is now five, with two ATMs in Zurich and the other two in Lugano and St Gallen. The company plans to install a few more to increase the coverage and to provide every Swiss city with a bitcoin ATM. One more ATM will be opened in Zurich at a central location within 3 weeks, Bitcoin Suisse revealed on Reddit.

The ATM in Basel is a two-way bitcoin ATM produced by BitxATM that can accept payments both in cryptocurrency and fiat currency. It is located 600 meters away from Bank if International Settlements in Basel. It is open only during office hours and allows to buy and sell bitcoins up to 500 CHF / EUR per day without any identification. For registered Bitcoin Suisse users the limit increases up to 5000 CHF / EUR per day. The transaction fees is 5% and 0.25% for registered users.

In July 2014, the Swiss Financial Market Supervisory Authority (FINMA) approved the launch of the bitcoin ATM network by another Swiss cryptocurrency broker SBEX. At the moment, two SBEX bitcoin ATMs or BTMs are located in Geneva and Lausanne.  The approval followed after the cancellation of the planned bitcoin ATM launches by Bitcoin Suisse AG. Since then Bitcoin Suisse AG has obtained legal permission and has installed five ATMs around the country. 

A new two-way bitcoin ATM has appeared in central Stockholm, at Malmskillnadsgatan 32, a Reddit user reported. Until now there was only one one-way bitcoin ATM in Stockholm at the cryptocurrecny company Safello office, according to the CoinATMRadar.

Although the installation of new ATMs in general is welcomed by the community, it seems that the industry has moved on to other solutions of conversion between bitcoin and fiat. CoinFox has reported last week about a new bitcoin startup Abra that plans to replace bitcoin ATMs with smartphone apps operating as virtual ATMs in any place in the world. Earlier two ATM providers, Robocoin and BTCPoint have announced the development of the new software that will allow any ATM to operate as a bitcoin exchange