A new company Iberobit out of Spain works to make digital currency available to everyone. A group of cryptocurreny enthusiasts have teamed up to set up a bitcoin-related business in Spain. They have already ordered three Bitcoin ATMs from BTCPoint based in Barcelona.
BTCPoint was mainly focused on the design and manufacturing of ASIC Bitcoin mining hardware and has since then expanded to also designing and operating Bitcoin ATM machines. Iberobit representative Tim Edwards told Cointelegraph:
“The first machine has been placed in a popular bar-restaurant in Alcala de Henares, a picturesque town within the community of Madrid, home to one of the oldest universities in Europe and acclaimed birth place of the famous Spanish writer Miguel Cervantes.”
The terminal is located in a Bar-restaurant called "La Complutense" right next door to the University of Alcalá. Being a university town, it is a great place to install an ATM - it has a large community of young open minded people in the Madrid Area and is also about 24 km from Barajas airport.
However, recently Bitcoin users in Barcelona found out that the Bitcoin kiosk from BBank that was installed in shopping centre in February is no longer there.
The Iberobit tried to resolve the situation by adding its Bitcoin Automatic Exchange Terminal, as they call it. “The second machine is destined to Marbella (for now), and the third for a central African Country,” said Edwards.
It is still unknown whether people will use it, though “the only way to find out, in our opinion, was to put one in operation and give it a few months to see! And that’s were we are now!” commented Edwards.
The regulatory climate of digital currency in Spain at the moment is also favorable and Bitcoin ATMs are regulated the same as vending machines. Edwards noted:
“Obviously we are a daring bunch especially since the tax authority in Spain has still not adopted a clear regarding bitcoin and its tax situation. Of course it’s clear we will have to pay taxes but "Hacienda", last I heard, still had not released clear cut instructions. The same goes for NYC requirements; it’s all kind of unexplored territory right now!”
Spain could become one of the most Bitcoin-friendly countries in Europe – a goal which Iberobit will primarily focus on:
“We are optimistic and are convinced that these machines are a "step in the right direction" when it comes to helping bitcoin to go mainstream!”