The German crypto Start-up Bitwala on 24. October, a Bitcoin ATM at the Brandenburg gate. The goal was the population about Cryptocurrencies, educate and raise awareness of the regulation of the crypto currency.

ten years Ago, published by Satoshi Nakamoto, the legendary White Paper on Bitcoin, the electronic Peer-to-Peer cash system. While most Europeans can acquire the crypto-currency to Bitcoin ATMs, Germany, sometimes with the adaptation. Here you will find almost not a single Bitcoin ATM. The reason for this is the comparatively strict regulation of the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht).

Bitwala demonstrated in front of the Brandenburg gate

Many of the German Bitcoin is still a foreign word. With the regulation of the crypto-currency still fewer people know. This circumstance took on the Blockchain-Bank Bitwala the occasion to explain in front of the Brandenburg gate in the capital of the subject. With a technically functioning Bitcoin ATMs and self-made signs on which “Ask me about Bitcoin”, sought Bitwala-workers talking with people on the street.

make cryptocurrency tangible, not held Bitwala behind the mountain, but distributed to interested parties free of charge a fraction of the BTC. With a real transaction, you could explain to people better on how to simply but very complex-looking Innovation actually works. In the conversation, the Start-up raised the awareness of passers-by, also for the strict regulation to BaFin, which in Germany is almost impossible to operate a crypto-machines.

Bitcoin ATM: Out-of-Order

Even if the machine worked on-site in a technically flawless, and pasted a sheet of paper with the words “Out of Order” on the Display. Thus, attention to the lack of crypto-adaptation in Germany. The technique works, however, you should not operate.

it is Regrettable, when you consider that the neighbouring countries is very well stocked with BTC machines. The purchase of the crypto-currency is in Austria, Holland, Poland, the Czech Republic and many other countries is relatively easy.

“I would hope that Bitcoin is not a financial instrument, but as a means of payment is classified”,

told us Bitwala-CFO, Christoph Iwaniez. And added that he was pleased with the consistently positive response of passers-by.

The legal position of crypto-currencies in Germany is still somewhat uncertain. Recently, the Berlin court of appeal explained that the classifications by the BaFin, legal, and trade with crypto currencies is punishable by law. A more detailed classification has so far remained, however.


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