World’s First Dedicated Bitcoin Bank Opens In Vienna

A dedicated bitcoin bank, possibly the world’s first, has opened on Mariahilfer Strasse in downtown Vienna, Austria, according to The Local, an English-language Austrian news site. The bank is owned by a Berlin-based blockchain startup, Bit Trust Services, and it is named Bitcoin-Bank. The bank is designed to make buying and selling bitcoin easier and safer than other in-person options.

The bank’s ATM machines exchange bitcoin for euro, and vice versa. The bank also provides information about the virtual currency.

Magdalena Isbrandt, managing director of Bit Trust, told state broadcaster ORF that digital currency transactions are faster than other transactions and can be done without a middleman.

“Value and money can be sent straight from user to user,” she said.

Touting Digital’s Advantages

Andreas Petersson, co-founder of Bitcoin Austria, said digital currency’s main advantage is anonymity.

“If I pay online with bitcoin, I have a degree of privacy,” Petersson said. He said the vendor does not have his personal credit card. When paying for digital goods, such as computer games, a buyer does not feel they are handing

Read more ... source: CryptoCoinsNews

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