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BITBase to Open the First Physical Bitcoin Shop in Portugal

Spanish startup BITBase will be opening the first brick-and-mortar bitcoin shop in Portugal — complete with several cryptocurrency ATMs — on January 24th.

The establishment will be located in Campo de Ourique in Lisbon and is expected to house several ATMs where users can deposit or withdraw their Bitcoin and other cryptocurrencies.

This marks the first time BITBase is setting up a new physical shop for cryptocurrencies outside of Spain, where there are already 25 similar stores with 149 ATMs all across the home country’s 15 cities.

As of now, Portugal does not have a legal regulatory framework specifically for crypto trading. While the country already has a bill that regularise and penalise said activity, the Parliament has yet to discuss about it.

Previously, regulatory entities such as the Securities Market Commission (CMVM) and the Bank of Portugal made a warning about the risks that come with crypto trading without government control.

BITBase stated in its website that it will have a team that focuses on assisting “the purchase and sale of cryptocurrencies” so that it could seamlessly introduce potential customers to the industry and ease their first crypto experience.

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