Slovakia’s first cryptomat is now operational thanks to blockchain platform KELTA Cube

Brand Voice
·4 min read

Bratislava, Slovak Republic, European Union – The world’s first multi-cryptocurrency mining platform KELTA has installed its first crypto ATM in an exclusive location in Bratislava. It’s a fast, cheap, and private way to buy and sell BTC, ETH, LTC, or ZEC using a card.

Crypto ATMs: an intuitive way to buy Bitcoin with a card

A cryptocurrency ATM, or cryptomat, is a kiosk that allows anyone to buy Bitcoin with a bank card or cash. It’s one of the fastest ways to invest in crypto because users don’t need to register on an exchange or pass an identity verification process.

CoinATMRadar lists over 10,000 Bitcoin ATMs in 71 countries as of September 2020. However, over 70% of them are located in North America, with fewer than 2,000 cryptomats in Europe. This is a surprising gap, since Europe is a major blockchain hub and most countries in the region have much more lenient cryptocurrency laws than the US.

Luckily, the situation around Bitcoin ATMs in Europe is changing, and even countries that haven’t had any cryptomats before are starting to get their first machines for buying BTC. This is happening thanks to companies like KELTA, which recently installed one of the first crypto ATMs in Slovakia, in the capital Bratislava.

About KELTA’s crypto ATMs

KELTA is the world’s first multi-cryptocurrency mining platform. It allows users to mine up to four different crypto coins simultaneously by leasing hashing power directly from KELTA’s data centers. The result is a reliable passive income from mining without the associated hardware and maintenance costs.

With cryptomats, KELTA is expanding from mining into Bitcoin investments. Since the company is headquartered in Slovakia, it’s only fitting that KELTA’s first ATM is located in the capital of this Central European country, Bratislava.

The new ATM supports Bitcoin, Ethereum, Litecoin, and Zcash, and it accepts payments in euro. The machine is installed in an exclusive yet easily accessible location on the banks of the Danube: the River Park multifunction center, home to a 5-star Kempinski hotel, luxury flats, restaurants, and shopping venues.

The ATM is available 24/7 and accepts all major types of credit and debit cards. Unlike most other Bitcoin ATMs, KELTA’s machine is two-way: one can both buy and sell crypto. It has a maximum purchase limit of 5,000 EUR per transaction.

Using the cryptomat

To buy BTC, ETH, LTC, or ZEC from the ATM, one needs to enter a BTC wallet address. The easiest way to do this is by scanning a QR code, provided by any mobile blockchain wallet. Once a user chooses an amount and inserts a bank card, the transaction is processed instantly. Crypto is deposited in the user’s wallet as soon as there are enough blockchain confirmations.

The actual time from the moment of payment to the moment when the crypto becomes available in the customer’s wallet depends on the chosen cryptocurrency. BTC is generally deposited within an hour, while ETH takes less than 10 minutes.

The ATM was made by Lamassu, one of the world’s largest cryptomat manufacturers, based in Portugal.

Advantages for customers

Buying Bitcoin through a cryptomat offers several advantages over using exchanges:

1) Completely private: users don’t need to provide their name, address, ID number, etc.

2) Saves time: purchasing crypto through KELTA’s cryptomat doesn’t take any longer than withdrawing cash from a regular ATM. In contrast, registering on an exchange and passing a KYC procedure can take an hour or more.

3) Low fees: when buying BTC with a card, users pay a fee of only 2.0%. In contrast, Coinbase charges a 3.99% fee.

The ATM in Bratislava’s River Park is only the beginning for KELTA. In the next few months, the company will expand its cryptomat network in Slovakia, with the intention of installing the first few machines abroad in 2021. They will mostly be placed in exclusive downtown locations with a particular focus on privacy.

More information on the multi-crypto mining platform KELTA is available on the official website: https://www.kelta.com/home

Media contact

Company: KELTA CUBE LTD.

Contact: George Mac

E-mail: support@kelta.com

Website: https://kelta.com

Telephone: +421 91 7222699

(Syndicated press content)