The world's first professional Bitcoin bank was established in Vienna, making Bitcoin trading safer and more convenient

The world's first professional Bitcoin bank was established on Mariahilfer Street in downtown Vienna, Austria, an Austrian English news website reported. The owner of the bank is a Berlin-based blockchain startup called Bit Trust Services, and the bank it established is called Bitcoin-Bank. The purpose of the bank is to make the buying and selling of Bitcoin safer and easier.

The bank's ATMs can exchange Bitcoins for Euros and vice versa. The bank also provides information on virtual currencies.

Magdalena Isbrandt, managing director of Bit Trust, told local media Austrian Radio that digital currency transactions are faster than other transactions and do not require a middleman.

“Value and currency can be sent directly from user to user,” she said.

Promoting the Advantages of Bitcoin

Andreas Petersson, co-founder of Bitcoin Austria, said the main advantage of digital currencies is that they offer a certain degree of anonymity.

"If I pay with bitcoin online, it can protect my privacy to a certain extent," Petersson said, adding that merchants won't get their credit card information. When buying digital assets like computer games, consumers won't feel like they're handing over their private information.

Bitcoin in Vienna

Vienna deployed its first bitcoin ATM three years ago, and the city now has at least 20 merchants happy to accept bitcoin, ranging from restaurants to pubs and bars.

According to the Bit Trust website (http://www.bit-trust.de/karriere/), the company is not only an investor in Bitcoin and blockchain companies, it also further develops new concepts in this field.

The company provides Bitcoin ATMs, payment systems, Bitcoin prepaid cards and other service assistance.

The company's founders are brothers Mathias and Oliver Roch, who in the 1990s developed a new method for testing the stability of stationary test frame systems, such as lighting towers, signal systems and traffic signs, as documented on the company's website.