Maltese Startup Introduce First Two-Way Cryptocurrency ATM

Flavia Carruth - July 19, 2018

A startup firm from Malta, Moon Zebra, has launched the island country’s first two-way cryptocurrency ATM that will allow users to buy and sell cryptocurrencies Bitcoin (BTC) and Litecoin (LTC) for Euros.  Malta is one of the most crypto-friendly countries in the world.

Moon Zebra is a joint venture owned by Leon Siegmund aka Lee Winmouth and Jonas Abrahamsson, a businessman. Siegmund is a self-confessed BTC maximalist and a digital nomad relentlessly working behind the scenes for creating awareness about Bitcoin and the crypto market. Siegmund is also the co-founder of Bitcoin Club Malta known for regularly organizing meetups and events to enhance the awareness about Bitcoin in the local business community.

Moon Zebra’s ATM’s to enable quick trading of digital currencies

The ATM machine from Moon Zebra will be located in Sliema town at the flagship offices of Quicklets on the iconic Tower Road. According to Moon Zebra’s co-founders, Markus Behmann, “When we got started with blockchain technologies, we learned quickly that many people find it too complicated to buy cryptocurrencies such as Bitcoin. Therefore, we explored easier solutions to buy and sell cryptocurrencies, which would be more accessible to the average user. “

Markus further added that their ATM’s will make it easier for the crypto users to buy and sell cryptocurrencies quickly in a very simple way. The ATM of Moon Zebra is produced by General Bytes and charges on an average 6.2% for selling and 8.3% for buying transactions. This particular ATM in Silema will support popular cryptocurrency exchanges including Bitfinex, Cointrader, Bitstamp, TheRockTrading, Coinbase, Kraken, Digitalx, and Quadrigacx and others well-known crypto wallets.

ATM services not restricted only to high-end users

CTO of the Maltese startup, Abrahamsson stated that the ATM will not restrict its services to only high-end users but will also accept purchases of 50 Euros. Siegmund stated that digital currencies are a good option to central banking. According to Siegmund, the economic cycles have been responsible for recessions in the last few years and may probably result in a crash of the fiat currencies.

It would be interesting to watch how this ATM from Moon Zebra flourishes because the country has a complicated history when it comes to Bitcoin ATM’s. Last year the first Bitcoin ATM in Malta went missing. However, Moon Zebra is aiming to change this perception with its new ATM.

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Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

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