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The Swiss-based cryptocurrency start-up, Bity, has announced the integration of the anonymous cryptocurrency monero (XMR) into its ATMs throughout Switzerland.
Since Monero is one of the most sought after cryptocurrencies, due to its privacy-oriented nature, and is one of the most common cryptocurrencies to be cyberjacked, there are certainly questions about why to choose one of the most controversial currencies recently.
Addressing these concerns, Bity stated in his blogpost: "Our company values privacy and individual rights a great deal.We believe that tools that include the by-design privacy features will be critical to the development of a digital economy focused on 39. Man Monero is one of the tools that support this key effort. "
The blogpost also provided information on how to complete a transaction from the Swiss franc (CHF) or € (EUR) to cryptocurrencies including, bitcoin, ethereum and monero.
Cryptocurrency ATMs that are installed in multiple locations across the country offer several advantages that can attract customers. Some of them include: Low transaction costs, secure connection, updated software, real-time prices updated every 30 seconds, the entire infrastructure is hosted, managed and managed in Switzerland.
In June of this year, 16 people were arrested for installing the malicious program in unsuspecting computers of victims in Japan. At that time, the news portal, Toshi Times reported that the police said: "The arrests were held in 10 different prefectures throughout the country and the first of these may have occurred already in March. The suspects are accused of installing a series of software on their victims' computers without consent.This included the infamous Coinhive program, which is used to extract Monero from the victim's web browser. "
The details revealed by the arrest said that the largest amount that was generated and seized by illegal extraction was about 120,000 Japanese yen, or the Japanese yen (about $ 1000). This is based on Coinhive's 70/30 model, which pays 30% for taxes and allows miners to keep 70% of the spoils.
So, given the discredit of Monero, it is a little astonishing to understand the decision of this statuary to introduce the coin.
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