February 12, 2017 / banks

First Bitcoin Bank Opens In Austria


The first Bitcoin Bank has opened in Vienna. It will provide the exchange of fiat money against Bitcoin, according to Thelocal.

 As reported, this Bitcoin bank located in one of the most popular streets of the Austrian capital Mariahilfer Strasse, there you can not only just exchange fiat currency but also get all necessary information about cryptocurrencies.

The Austrian cryptocurrency community has reacted also positively to this news. Thus, local Bitcoin enthusiast and Head of Bitcoin Austria Andreas Peterson says this is an advantage:

 “When I pay for something with Bitcoins, I get a certain level of privacy. When I pay for digital goods, such as computer games, I understand that no one can get my personal information “.


Austrian authorities have repeatedly kept their focus on cryptocurrencies and their potential use. So, in May of last year, the Federal Ministry of Transport, Innovation, and Technology, the Austrian Institute of Science and Technology, as well as the Federal Ministry of Finance took part in the Austrian-German project to investigate the use of digital currencies in the activities of organized criminal groups.

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