From Crypto To Cannoli
"Since 2014, citizens here are experimenting what Bitcoin is and they started to use it to pay goods and services in physical places. So they took away their money from the traditional financial system to put them into this new form of digital gold."
From Crypto To Cannoli
The prevalence of the mother of all cryptocurrencies, Bitcoin, has grown exponentially over recent years in Italy. It even seems that the mafia has started to use it for their less than legal activities according to Italian Senator Lucrezia Ricchiuti. If you’ve found yourself in the position to hold any amount of the currency with the recent surge, here is how you can plan to not only go from crypto to cannoli as you make your way around Italy, but where to connect with other crypto-enthusiasts.
At the moment Italy has only about 10 BTMs (Bitcoin ATMs), a very small number considering how many Bitcoin machines are available in the United States. The Italian app called Qui Bitcoin indicates BTMs in Trento, Genova and Reggio Emilia.
There are many terms tossed around the crypto world that can cause confusion in the non-trading community including, blockchain, cryptocurrency, bitcoin, altcoin, etc. Essentially, blockchain is the technology that enables the existence of various cryptocurrencies, and Bitcoin is the name of the best-known cryptocurrency and specifically the one for which blockchain technology was initially invented.
A Rome based company, Blockchain Education Network Italia, spreads the word of Blockchain technology through meetups, conferences and the development of new projects pertaining to the technology. At the moment, BEN is only open to those enrolled in a university.
Of course, there are a wide range of online shops that accept Bitcoin payments but only a few of them are based in Italy. Inbitcoin is the first Italian company to allow merchants to accept Bitcoin as a form of payment in their stores. It operates in Trento, Rovereto, Pordenone and Milan. Inbitcoin founder, Marco Amadori stated
“Since 2014, citizens here are experimenting [with] what Bitcoin is and they started to use it to pay for goods and services in physical places. So they took away their money from the traditional financial system to put them into this new form of digital gold.”
We hope you've enjoyed learning about the ever growing influence of cryptos in Italy with From Crypto To Cannoli! What do you think about the future of cryptocurrency in Italy? Leave a comment below!