A new BATM was installed in Sofia, Bulgaria. The two-way machine exchanges several crypto assets, counting Bitcoin (BTC) and Bitcoin Cash (BCH) with fiat currencies and reverse.
Starting today, Bulgarians and tourists can exchange Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Monero (XMR) with EUR/USD/BGN and vice versa using a teller machine located in The Mall, a famous commercial center based in Sofia.
The ATM is managed by DG Cash, a Bulgarian exchange. The company made the announcement on 20 July via Facebook. “The exchange rates of the cryptocurrencies applied at the ATM are almost identical to the ‘We Buy’ and ‘We Sell’ rates on our website, and the commission we collect is approximately 3% of the market price as it is included in the exchange rate,” the exchange wrote in the post.
The limit is set at 10,000 BGN
As stated in the post, the maximum limit for a transaction is set at 10,000 BGN, around € 5,100 or $ 6,000 USD. Upon purchase, users can use one of the three accepted fiat currencies while for withdrawn, they will only receive BGN.
The machine has a user-friendly interface, supporting several languages, including Bulgarian, English, and Spanish. In case you don’t own an electronic wallet, note that the teller machine can generate a paper one.
This is not the first service of its kind in Sofia. The first teller machine supporting cryptocurrencies was launched in 2014. Located in the Interpred office building, the BATM has a limit of 5,000 BGN per day. A year later, two more ATMs were installed in the Coffee Bar The White.
Expansion of such services indicates that Bulgarians are increasingly interested in cryptocurrencies. We expect more and more BATMs to be spotted in the near future.