Category Archives: ATM

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German Banks Can Offer ATMs Exchanging Bitcoin and Ether to Euro

The German Federal Financial Supervisory Authority (BaFin), has clarified that banks have the right to upgrade existing ATMs in the country to facilitate certain cryptocurrencies, according to Trustnodes.

The German FCA has announced that the country’s banks can take up the new option, but as yet none have responded to the opportunity to allow customers to exchange BTC or Ether for Euros using the machines.

Responding to a question by Thomas Lutze, representative of a left-wing party in Germany, BaFin stated:

“Each institute, which has permission for proprietary trading, also has the right to set up machines that allow the exchange of Bitcoin in euros and vice versa. So far it is not known that this was done.”

Its reported that the modification of the machines would offer QR code facilities to enable simple address scanning and modification.

Cryptocurrency ATMs are becoming far more commonplace around the globe, although Europe has a long way before it catches up with the US. Prague has recently seen the arrival of 10 new Bitcoin ATMs across the city’s subway routes, and London now has 74 positioned around the city, although 118 businesses also accept Bitcoin as payment.

However, London ranks 6th globally on the crypto convenience list, with the top five cities all located in North America. Los Angeles tops the list with 145 ATMs and over 850 firms accepting Bitcoin payments. Other cities with a healthy spread include Toronto, New York, and Atlanta. Argentina has expressed a desire to have a gargantuan total of 30,000 located across the nation and US capital Washington DC has recently doubled its ATM availability from 20 to 40 due to public demand.

There are reportedly six German banks currently trading cryptocurrency according to BaFin, although the banks haven’t as yet been named. It remains to be seen whether banks see enough customer demand to operate the service

However, German stock exchanges are seriously looking at cryptocurrency options for the future. Deutsche Boerse, the owner of the Frankfurt Stock Exchange, is evaluating whether to offer cryptocurrency products, according to Bloomberg. If this is the case, this will be the second German stock exchange to make announcements this year regarding a move towards the adoption of cryptocurrency related products, after Boerse Stuttgart Digital Adventures announced the release of its Bison app in April.

 

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A Traveler’s Guide: How to See the World With Bitcoin in 2018

After software developer Felix Weiss from Luxembourg attracted worldwide attention two years ago, by traveling the world with Bitcoin at his disposal, Hard Fork asks the question: Has this feat become easier in 2018?

When Weiss left on his world trip in January 2015 Bitcoin had crashed to around $200 per BTC, but started to slowly climb back en-route which he said had helped him to complete his 18-month journey. He said that the easiest country had been the US, particularly San Francisco, where Bitcoin acceptance was widespread around the city.

He struggled in Cuba having to revert to cash. In Asia, he said his cash usage again was high and found a higher degree of Bitcoin acceptance in South America.

Hard Fork’s Neer Varshney researched how this picture might pan out in today’s crypto space by contacting airlines: the first port of call for any travelers. He found that there are multiple airlines accepting cryptocurrency payments including CheapAir.com, who started accepting cryptocurrency payments as far back as 2013. The company now accepts Litecoin, Bitcoin Cash, and Dash payments.

Other companies offering cryptocurrency booking services included Expedia, BTCtrip.com, Destinia.com, Japan’s Peach Aviation, California’s Surf Air, and Latvia’s airBaltic, and A Bit Sky.

Finding a placed to stay has become even easier as most of these companies also allow you to pay in crypto for accommodation too, although it depends on exactly which part of the world the traveler chooses.

Eating is not quite such a simple affair with limited restaurants and cafes around the globe accepting Bitcoin and other currencies. Although, CoinMap can help travelers find a Bitcoin-accepting venue for the next meal. La Sirene in Manhattan now accepts Bitcoin. Some companies now offer a gift card service which can be used to purchase food coupons for Bitcoin.

Shopping has become easier with many online stores now accepting the popular cryptocurrency, and as revealed in the last week if you land in Brisbane, the International airport there will be welcoming crypto payments in all its terminal shops and cafe’s this year.

The last resort, of course, is to hunt down a Bitcoin ATM. This is good news for the traveler, as there are now over 3000 such ATMs worldwide, and if South America is the list, then Argentina must be a destination for the discerning Bitcoin traveler, with its plan to install 30,000 machines in that country alone. Europe and the US are increasingly installing machines to keep up with customer demand, most machines offering Bitcoin and often a choice of other major digital currencies.

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Image Source: Pixabay

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Jo’Burg’s First ATM Hopes to Enthuse Local South Africans Towards Bitcoin

South Africa has its first cryptocurrency ATM since 2104 and the new Northwold Spar machine in Johannesburg will become the only one operating in the country, reports Bitcoinist.

George Neophytou, the General Manager of the Northwold Spar and self-confessed crypto enthusiast was inspired to purchase the machine after a trip to Europe, the continent with the world’s third market share of crypto ATMs, He comments:

“It is all awfully exciting. It will take away much the frustration of buying and selling cryptocurrency, and hopefully help make cryptocurrencies mainstream… It’s a different world there. Walking around in the streets of Germany you see signs with ‘Bitcoins accepted there’.”

The ATM, which was imported from Portugal, will be able to process various forms of cryptocurrency tokens including Ethereum and Bitcoin. It’s not the first in South Africa, as a previous machine was installed in 2014 at a men’s salon in Midrand, Johannesburg, but was closed down after a short period in operation. The store manager was excited about the prospect of making cryptocurrency available to his customers:

“It is all awfully exciting. It will take away much the frustration of buying and selling cryptocurrency, and hopefully help make cryptocurrencies mainstream…Lots of people in South Africa are also in the cryptocurrency space and lots of South Africans are watching it. However, not all individuals have access to it.”

Neophyou hopes that his ATM will make cryptocurrency accessible to those customers without a bank account, and hopes to roll out more ATMs, if successful. Although, he warns that those using the machine should do their research and understand that they should only spend what they can afford to lose.

A recent survey conducted in South Africa maintained that one in four respondents confirmed they plan to invest in cryptocurrency in the future, and another 15% said that they would invest in mining equipment. Although, warnings of electricity hikes of up to 50% in the near future may well dampen the enthusiasm of prospective bitcoin miners, according to LiveBitcoinNews.com

South Africa joins Zimbabwe and Djibouti are currently the only African countries to offer cryptocurrency ATMs.

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4000 New Bitcoin ATM’s for Argentina Follows Global Trend

US ATM distributor, Odyssey Group, has announced that it has pre-agreements to install 4000 Cryptocurrency ATMs throughout Argentina, after an easing of regulations by the Central Bank of Argentina (BCRA)

The new laws enable the installation of ATMs, of any kind, to be installed in supermarkets, shopping malls, and cinemas. Until now, operating licenses have only been issued to Argentinian company Bancelo and international Link networks, providing they site their machines on banking premises.  The new legislation has broadened location rules and also opened up the market to independent players.

Odyssey Group CEO, Sebastian Ponceliz, explains that company platform, Octagon, “… allows the ATM user to obtain cash, exchange cryptocurrencies, obtain microcredits, transfer money and many other functions through electronic wallets.” Ponceliz has said that the planned 4000 ATMs is only a small part of the BRCA’s expected 30,000 machines to be installed across Argentina due to the new legislation.

Worldwide

Bitcoin ATMs are a becoming a global phenomenon, breaking down the entry barrier of identity verification by allowing the public to use cash or a debit card to purchase BTC immediately. The transaction issues a physical paper receipt with a QR code on it allowing users to scan that code into any wallet.

Bitcoin ATMs are becoming a more common sight, particularly in major capitals or centers, and the US currently has the greatest total of around 1,700 machines nationwide. Statistics show that there are now more Bitcoin ATMs than traditional banking machines being installed currently, with on average, five new machines being positioned each day.

There are now approximately 3000 Bitcoin ATMs installed in 67 countries and nearly half of these support altcoins as well as Bitcoin. In 2017 the number of Bitcoin ATMs doubled from just 954 to 2,028. Surprisingly Asia only has just 2.16 of the world total with the US, Canada and The UK leading the way.

China’s last ATM

China now has one Bitcoin ATM, after its cryptocurrency shut down, it’s been moved from a cafe in Shanghai’s Zhangjiang high-tech park where it was used by employees.  In now stands in the lobby of the headquarters of BTCC, one of the worlds oldest crypto exchanges. The machines’ screen shows that there’s ‘no bitcoin available for trading.’

Image Courtesy: https://pixabay.com/en/atm-money-cash-payment-finance-2923515/ jarmoluk

 

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