Bitcoin Will Be Available At ATMs Worldwide
One of the leading manufacturers of ATMs also wants to sell Bitcoin via its devices in Europe and America.
Maybe you have already heard of the company Hyosung. It´s one the the worlds leading manufacturers of ATM´s with it´s headquarter in South Korea. Hyosung will make the digital currency bitcoin available at its devices in Europe. As the magazine Cointelegraph reports, South Koreans have been buying and selling bitcoins on their devices for 3 years now by using a special app. Now the company wants to establish the service in Europe and America as well. Is this the reason why Bitcoin is rising and unstoppable in the last couple of days?
"In the coming weeks, Hyosung plans to fully integrate the Bitcoin service into its internationally distributed models, which will be shipped to Europe and the US", wrote Cointelegraph.
Benefits of Bitcoin supporting ATMs
Since 2016, most leading Bitcoin markets and their authorities have pressured Bitcoin exchanges and trading platforms to enforce strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to crackdown on illicit use cases of Bitcoin and other cryptocurrencies such as Ethereum and Litecoin.Consequently, the process of account verification and updating daily or monthly limits of Bitcoin trading accounts has become significantly challenging. On most exchanges users are required to spend at least a few weeks to submit necessary documents including personal verification (IDs or passports), bank documents, and even conduct a face-to-face interview for maximum monthly limit upgrades.For large-scale traders and investors it is worthwhile to go through such a rigorous verification process to create trading accounts. For beginner users and casual investors however, Bitcoin ATMs are significantly simpler to use to buy and sell small amounts of Bitcoin.Currently, major Bitcoin brokerages and exchanges such as Coinbase and Gemini are focusing on providing support for institutional and retail investors. Cointelegraph recently reported that Coinbase launched Coinbase Custody, a Bitcoin custodian platform for institutional investors planning to invest a minimum amount of $10 bln in Bitcoin.A handful of companies including Coins.ph of the Philippines, the largest Bitcoin brokerage in Asia with nearly 3 million active users, are working to provide services for general consumers and small-scale Bitcoin investors.In the long-term, the integration of Bitcoin into hundreds of thousands of bank ATMs globally would further increase the mainstream adoption of Bitcoin. - Cointelegraph
This is going to be a big change for the mainstream world. Bitcoin is getting more popular than ever but we are the ones who joined and believed from the start. I remember when my brother went to Czech Republic this year and told me he found ATM´s where you could cash out or buy Bitcoin. I was a little shocked because I never thought that Czech Republic would be joining the crypto world before countries such as Germany, France, Spain etc. Hyosung is making a big change and we will see how long other ATM manufacturers need to integrate Bitcoin to their machines.
Hyosung has worked in collaboration with Bitcoin service providers within the South Korean crypto currency industry. For example Tim Draper-backed Coinplug. People in South Korea have the opportunity to buy and sell Bitcoins on tens of thousands of ATM´s located at nearly every convenience store and subway station. The procedure is quite easy by using the Coinplug mobile app.
As seen in the photograph below
The efforts of Coinplug and Hyosung to transform many of the existing bank ATMs in South Korea to Bitcoin-supporting ATMs have led to an increase in mainstream adoption of Bitcoin.
Hyosung will be shipping the automats to supporting countries such as America and most European countries.
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Thanks for reading
Stay focused
Love, Soldier
Bitcoin is touching higher ground.
Bitcoin high fee makes possible for another altcoins to gain ground.
Wealth well spread.
Keep on steemit.
Finally!
BITCOIN is getting a lot of exposure and I’m not sure if it will be for the good or just be part of the bubble
there is no bubble here ;)
You´re right in a way. Bitcoin is getting a lot of attention lately and it will drop for sure but the whole movement is coming to the mainstream world sooner or later which definitely will be a positive thing.
Yeah the more people who hear about it, and the more mainstream it gets, the closer we get to a usable system of payment that takes banks out of the equation. There's really no need for a middleman.
wow incredible news, bitcoin go to the moon, thanks to the wonderful growth of this cryptocurrency, altcoins are growing around the world, and receiving the respect of governments, no doubt awaits us a great closing of year and a prosperous new year in this area, thank you very much for sharing this information dear @soldier, I wish you a good trade with bitcoin, I invite you to take a look at my recent post, and have a good week, greetings!
Great blog, upvoted your last article.
Bitcoin is getting to the next level and reaching the 8k mark was definitely a big step further to the mainstream world. Amazing to see the change
Yes, I'm excited about the great growth of bitcoin, I hope the same thing happens with Ethereum and Steem-Steemdollar, thank you very much @soldier you're very kindness, my best wishes for you, blessings!
No doubt that will contribute to Bitcoins current Bullrun.
I hope Bitcoin dips soon so I can buy back in! Exciting times ahead for the Crypto community indeed!
Very exiting times ahead. It will drop for sure but be ready before it hits 10k
still waiting for first steem/sbd ATM :)
definitely!
i think bitcoin atms are already in most european countries:) question is how many of them will be and will it be mainstream :) hope others alts will be availeble in atms too
Hyosung is one of the world´s leading manufacturers of ATM´s and they already set up tens of thousands machines in South Korea. The mainstream company is now coming to Europe AND America. Will be a big change
the disruption has begun. nice.
Let´s see what happens next
mark my words. 5 years and fiat money is irrelevant. Hopefully to the best.
I think it'll take more than 5 years. But I think crypto will be far more commonplace by then for sure. I think knowing that fiat currency is there as a backup plan will still be reassuring for people.
This could help Bitcoin go mainstream in a big way.
Of course, there are ten thousand other projects also aiming to take Bitcoin into the mainstream. A lot of them will be landing soon.
What a time to be alive.
Totally agree. We joined at the very beginning and are able to experience the big change. They really are working on thousands of projects to take Bitcoin into the mainstream world but integrate the currency in ATM´s is a huge step though.
Wow, great news, this is another positive step to the recognition of crypto-currencies around the world. In addition, it is to facilitate the use Bitcoin! Thank you @soldier
Totally another positive step!
Totally agree with you:)