Spanish people teach you how to withdraw Bitcoin from ATMs

   Four young Spaniards, aged between 19 and 28 , have devised a new system for transferring bitcoins without the need for special machines.

If you are already using Bitcoin and are in Spain, you can withdraw Bitcoin from some banks in Spain. Bitcoin, now that it is very popular, how to convert it into Euros and withdraw it from a traditional ATM? BTCPoint , a Spanish company based in Silicon Valley, has developed a simple mechanical device that is used in Spain. Note that the oldest developer is only 28 years old.

Withdrawing Bitcoins from an ATM is very easy, explained Álex Lopera , co-founder of the company, to abc , and he assured that any Bitcoin holder can turn them into euros and put them in his pocket in a few seconds. Álex Lopera said: " The process is very simple, first, connect your mobile phone to verify your identity, then choose the amount you want to withdraw and finally place your Bitcoins in the indicated location. In addition to this method, SMS can also accept Bitcoins, just enter your PIN code to withdraw money from the ATM. "

In addition, when you have Bitcoin in your account, this service is very convenient and liquid. Álex Lopera lists the many conveniences of this service, for example, a person coming from another country with a non-Euro currency who does not want to exchange money at the airport. Then he can take advantage of the convenience of this service. "Once I did an experiment in New York, I tried to exchange 5,000 US dollars into euros. But the depreciation meant that I would lose 600 euros, which is not a small amount. Now, with our system, there is no need to bear such losses. No credit card, no cash. You just need to take our system to any ATM and withdraw money easily. "

According to the head of BTCPoint , another benefit of the system is that it is linked to mailing outside Spain. "It costs a lot of fees to send money from the United States to Spain, but with our system, the money you need to send will be in your account instantly.

In fact, in Spain, there are already ATMs that use Bitcoin to withdraw money, but the production of these machines is both expensive and laborious. This new system is in line with the Halcash y Sabadell network, which means that users need to enter a password to withdraw money, without a bank card or going to the bank window. In addition, the company is also studying the production of specialized ATMs, and they have their ATMs in Lérida , Madrid, Barcelona and Tarragona .

The development of Bitcoin

——Phase 1 (2009-2011) . Bitcoin was launched and started an experimental phase, where users began to explore its possibilities.

Phase 2 ( 2011 ) . Bitcoin began to be used and its value began to rise. The first companies to create infrastructure for this currency emerged.

——The third stage ( 2012-2014 ). At this stage, Bitcoin has become well-known and popular, especially when a large number of companies and individuals began to invest in this project. As a result, many companies operating Bitcoin were funded.

——The fourth stage ( late 2014-2015 ) . The Wall Street era officially began, Bitcoin became fully known to the public, and Bitcoin products were launched one after another.

——The fifth stage: This virtual currency becomes an important element in the financial world, and more importantly, consumers understand its safe and fast nature.