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Switzerland Introduces Bitcoin, Swiss Rail Starts Selling Crypto Through Its Ticket Machines

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After El Salvador, which adopted bitcoin as legal tender alongside the US dollar earlier this year, Switzerland is also warming to the idea of ​​cryptocurrencies. Traveling in the country, famous for its charming cities and scenic train rides that showcase the best of its natural scenery, you can now buy bitcoin and train tickets from a single machine. The Swiss national railway firm (SSB) has decided to allow customers to buy bitcoin at its railway ticket machines. Initially this facility was introduced only at 1,000 ticket machines but since then the number has increased.

According to the SBB, a customer just needs a bitcoin wallet and a Swiss mobile phone number to buy bitcoin from railway ticket machines. Customers can buy bitcoins for a minimum of CHF 100 (Rs 8,068) and go up to CHF 500 (Rs 40,343) and the service will be available to them round the clock.

SBB customers can also buy and store bitcoin offline – in a paper wallet.

Although the project started earlier, many travelers are now able to trade Swiss francs for bitcoins through these machines. According to a report by CoinQuora, an online publication, while the machines can pay with bitcoin, they will not accept payments made with cryptocurrencies for some time.

The Swiss railway company said bitcoin is already accepted in more than 10,000 locations around the world and it enables quick and easy payments without the need for any credit card or bank details.

Despite its extreme volatility, bitcoin has gained tremendous popularity and acceptance since its launch in 2009. The price of bitcoin in India is around Rs. 40.60 lakh (approximately $54,291) on Thursday, an increase of nearly $10,000 (Rs 7.48 lakh) over the previous week.

The faster it rises, the more it crashes. In early February, bitcoin first crossed the $50,000 mark (Rs 37.39 lakh) and then hit its all-time high of around $64,000 (Rs 47.86 lakh) in April. But the market crashed in May and it lost all its gains. Since September, the crypto coin has started showing recovery.


Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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