Japan Legalizes Bitcoin and Now Austrian Open First Bitcoin Bank

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It was only yesterday that word came out of Japan that they would be legalizing the use of Bitcoin as a currency in their monetary system. Now the capital of Austria, Vienna is the home to the first ever Bitcoin bank.

The world’s first dedicated bitcoin bank has opened in the center of the Austrian capital Vienna. It is designed to make buying and selling bitcoin easier and safer than other in-person options.

The digital currency outlet is owned and managed by a local Blockchain startup Bit Trust and is named simply ‘Bitcoin-Bank.’

The ATM machines exchange bitcoin for euro, and vice versa. Customers can also get information about the virtual currency.

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Managing Director of Bit Trust Magdalena Isbrandt told state broadcaster ORF the advantages of digital currency is that transactions “are simply much faster and can be done without a middleman.”

She added that “value and money can be sent straight from user to user.” – Russia Today

Previously there had only been ATMs for Bitcoin scattered around areas like North America.

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