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Austria opened its first Bitcoin bank

February 20, 2017
2 min

The Swedish media resource “The Local” has recently informed about the opening of the first Bitcoin bank in Vienna. Consequently, Austria has turned into world’s first country to have an official financial Bitcoin institution on its territory, which marks the beginning of the brand new era in the development of payment systems.

The bank, named Bitcoin bank, is situated on the most popular shopping street in Vienna – Mariahilfer Strasse. The said financial institution is owned by the German company called Big Trust Services, widely known as a blockchain startup.

Generally speaking, Bitcoin bank was primarily opened to allow people to conduct cryptocurrency transactions in the most comfortable and secure way possible. Currently, Bitcoin bank offers Bitcoin purchases/sales in euros only.

Bitcoin has become widely known and appealing for clients due to its qualities such as security and anonymity. It is based on peer LAN technology, that, as has recently turned out, can be used not only for the file exchange. The technology of encrypted peer LAN does not require a common service center. That is why it suggests new approaches of using financial instruments. Before the advent of Bitcoin, there were no payment systems without a master controller. However, since the technology does not imply the presence of a central server, there is no control. This is the main reason why Bitcoin is becoming more and more important these days.

Since its official launch in August of 2008, Bitcoin exchange rate is constantly growing. In the early 2017, it exceeded $1,000. Bitcoin capitalization increased from $11 to $16 billion just in few months.

Bitcoin capitalization increased from $11 to $16 billion just in few months

As you can see, in a considerably short time the general index increased by 25%. Within the growing popularity of Bitcoin, it´s relevance in 2017 will keep on increasing, accompanied by solid capitalization processes applied to this cryptocurrency. In this manner, Slotegrator’s experts believe, that Bitcoin is the future of online payment systems and financial transactions.

These days, Bitcoin is very popular in the online casino industry, as long as gambling is an industry that predominantly focuses on security and anonymity.

The company Slotegrator is an aggregator and a leading provider of online casino solutions, aimed at tracking the latest and the most outstanding tendencies on the current market. That´s why among the most highly-sought solutions provided by Slotegrator are Bitcoin casino projects. The said revolutionary projects open new possibilities for the potential operators, as long as Bitcoin casinos comprise all the necessary features of a successful online business: speed, flexibility, financial security and complete anonymity.

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