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First bitcoin ATM Installed in Georgia

First bitcoin ATM Installed in Georgia

PanARMENIAN.Net - A new automated teller machine now offers Georgians a fast and easy way to buy and sell bitcoin and litecoin, Bitcoin.com reports.

Support for bitcoin cash has been promised, and other cryptos will also be added in the future. The ATM has been set up at a burger restaurant in the heart of the Georgian capital Tbilisi.

Cryptocurrencies in Georgia have been gaining popularity in recent years. The country has become a regional leader in the adoption of bitcoin and blockchain technologies. A new cryptocurrency terminal has been set up in Tbilisi offering the opportunity to exchange bitcoins and litecoins with the Georgian lari. The company behind the initiative promises to provide support for bitcoin cash and plans to introduce other cryptos, like ethereum.

The new BATM has been installed at the New York Burger restaurant between Tkvarcheli Street and Merab Kostava Street in the Georgian capital, not far from the 26 May Square. It is operated by a local firm called TPS. The company provides exchange services through cash terminals and an online trading platform.

According to Coinatmradar, another crypto ATM, which also supports bitcoin and litecoin transactions, can be found on 12 Shalva Dadiani Street in Tbilisi. Both teller machines are manufactured by the Prague-based company General Bytes.

A bill to regulate cryptocurrency mining was introduced in Armenia in February. The proposed legislation offers crypto miners tax exemptions and other incentives. Operators of mining facilities will not be required to apply for any permissions or licenses. According to local experts, the draft law will effectively legalize cryptocurrency transactions.

Photo. REUTERS/Benoit Tessier/File Photo
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