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Bitcoin ATMs at Saturn in Cologne: Bitcoin payment on Hohe Straße
Find out where in Cologne you will soon be able to shop with Bitcoin and how Bitcoin ATMs at Saturn make the cryptocurrency more accessible. Immerse yourself in the world of virtual currencies!
Bitcoin ATMs at Saturn in Cologne: Bitcoin payment on Hohe Straße
As part of a pilot project, the Cologne event location Tivoli on Hohe Straße has started accepting Bitcoin as a means of payment. The same applies to the Potpourri restaurant in Nippes, which houses a Bitcoin regulars who pay their bills with cryptocurrencies. This step allows customers, for example, to purchase a Kölsch for 2.30 euros for a fraction of a Bitcoin, which is currently worth around 60,000 euros.
Another way to purchase Bitcoin is to use Bitcoin ATMs, such as those installed at Saturn on Hohe Straße. The successful pilot project led to Media Markt Saturn setting up Bitcoin ATMs in additional markets to offer customers a simple and secure way to purchase cryptocurrencies. Customers deposit cash at the ATM and receive the cryptocurrency credited to their digital wallet.
Although Bitcoins are particularly popular with speculative investors due to their strong price fluctuations, consumer advice centers often advise against using cryptocurrencies to build wealth. Nevertheless, according to the Statista Consumer Survey, twelve percent of investors in Germany have cryptocurrencies such as Bitcoin in their portfolio. To use cryptocurrencies effectively requires a deep understanding of technical details, as these virtual currencies are based on complex mathematical calculations and are encrypted using blockchain.
The blockchain, translated as a chain of blocks, serves as a decentralized database in which information about all existing Bitcoins is recorded. The cryptocurrency is controlled by the limited number of a maximum of 21 million Bitcoins worldwide and the gradual creation of new units. To purchase Bitcoins, an electronic wallet is required, which can be stored either on an external data storage device such as a USB stick or in computer software or smartphone app.