International expert on bitcoin, Blockchain Technologies Corporation CEO Nick Spanos has told Banks.am that he intends to import bitcoin ATM machines into Armenia.

“We have bitcoin ATMs distributed all over the world. I have a factory of bitcoin ATM machines. We are looking for a right local partner to make it a reality and we have interviewed many potential partners during our visit,” said Nick Spanos.

He has highlighted that the bitcoin ATM serves two functions.

First, you can insert local currency and create a wallet and buy bitcoin (i.e. load it up on your wallet).

The other option is that you can sell bitcoin to the ATM and receive local currency back in return.

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Nick Spanos has also noted that Armenia is ready for blockchain and crypto future.

“It’s the future that is not controlled by central banks and their agenda, but by people’s agenda only. We are here to unleash the power of peer-to-peer transactions in cryptocurrencies,” Nick Spanos said.

The expert advised to understand what bitcoin is before actually buying it. According to him, people need to invest into education on understanding how bitcoin works.

“These new technologies [cryptocurrency] are here to stay. In the end bitcoin always keeps going up, and more up then down,” he said.

Touching on the reasons of his visit to Armenia, Nick Spanos has said that he was in Armenia out of interest.

“We’ve come here because we saw Armenians becoming champions in Chess Olympiads for many times now. This is a small country with only a couple of million people living here, so we are interested in how you’ve managed to succeed,” he told.

Nick Spanos visited Yerevan in the end of January, 2018. In 2013, he founded Bitcoin Center in New York as the first physical bitcoin exchange located right next to the New York Stock Exchange.

Narine Daneghyan