Category Archives: Hong Kong

Auto Added by WPeMatico

UN to Use Blockchain for Transparency in Hong Kong Migrant Recruitment Firms

UN to Use Blockchain For Transparency in Migrant Recruitment Firms of Hong Kong

  • The United Nations’s migration agency will use blockchain to meet global standards of recruitment process of migrant workers
  • Blockchain-based firm Diginex, in partnership with UN, developed a blockchain solution for recruitment agencies in Hong Kong

The UN International Organization for Migration (IOM) announced yesterday that it is going to use blockchain technology-based solutions to enhance the recruitment process of migrant workers. The announcement said that IOM  will use the International Recruitment Integrity System – Self-Assessment for Ethical Recruitment (IRIS-SAFER) system to increase transparency in the recruitment process of these workers.

The announcement was made by IOM in liaison with Diginex, a Honk Kong-based blockchain financial service firm. IRIS-SAFER will primarily be used by approximately 1,500 recruitment agencies in Hong Kong. In an attempt to adhere to ethical recruiting, these agencies will use IRIS to ensure they cohere to global standards of recruiting migrant or cross border workers.

Blockchain will be used to ensure data integrity and better data management. This will mean more transparency and less ambiguity when it comes to data analysis.

According to a recent survey conducted by the International Labour Organization (ILO), there are more than 390,000 domestic migrant workers in the Hong Kong area, which is approximately one-tenth of the population, according to the last census. Out of these, approximately 58% are charged illegal fees by recruitment agencies. Mark Blick, head of Government solutions at Diginex, said:

“Using the U.N.’s IRIS standards as the benchmark for reputable agencies, we are confident that the tool can help to strike out these unethical practices.”

The UN has also shown its interest in blockchain technology by accepting donations in cryptocurrencies, as previously reported by BitcoinNews.com.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay 

The post UN to Use Blockchain for Transparency in Hong Kong Migrant Recruitment Firms appeared first on BitcoinNews.com.

Hong Kong Bitcoin Trade Volume Rising Amid Protests

Hong Kong has been in a state of civil unrest since an extradition bill was proposed in February, and protests have intensified in recent weeks.

Essentially, if the extradition bill were passed then Hong Kong natives could be deported to mainland China for any crime. Hong Kong and mainland China have different laws, but this extradition bill would basically nullify Hong Kong laws since people would have to go to court in China instead of Hong Kong.

The fear over the extradition bill has caused capital flight, meaning Hong Kong citizens are trying to move their money offshore to protect it, just in case the extradition bill becomes law.

The bill was withdrawn early last month, but protests have since adopted broader pro-democracy lines and become more sporadic, with yesterday being the most widespread in four months.

Bitcoin is perhaps one of the best ways to move money offshore, since it is instant, secure, and pseudo-anonymous. Indeed, in recent weeks Bitcoin trading volume in Hong Kong on the popular peer to peer exchange Localbitcoins has been rising, with 172.8 Bitcoins worth USD 1.42 million traded in the last week, as opposed to typical volumes before the protests of USD 0.2-0.5 million per week.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Hong Kong Bitcoin Trade Volume Rising Amid Protests appeared first on BitcoinNews.com.

Oil on Fire: How Hong Kong’s Worsening Riots Could Be Fueling Bitcoin Rally

Hong Kong Experiencing Severe Anti-Government Riots, May Be Contributing To The Bitcoin Rally

Hong Kong, a territory of China which has some autonomy, has been plunged into chaos from mass peaceful protests which have now turned into riots. Apparently, varying levels of civil unrest are occurring in 11 different parts of Hong Kong, covering the full spectrum from worker strikes, traffic and public transportation disruptions, tear gas being fired at protesters, protestors throwing objects at police and pro-government civilians, and even a police station was burned down. The protests in Hong Kong may be fueling buying pressure in the Bitcoin market, as will be explained in this article.

#LIVE: Protesters set fires at and besiege police stations, throw national flag into water as chaos reigns across Hong Kong https://t.co/4zOXMH4fU9 #HongKongProtests pic.twitter.com/lVesmONDUt

— SCMP News (@SCMPNews) August 5, 2019

Hong Kong extradition bill fears fueling protests

Before explaining how the protests in Hong Kong could impact the Bitcoin market, it is important to understand why the protests are happening in the first place.

Hong Kong was originally a colony of the United Kingdom, until 1997 when Hong Kong was transferred to the Chinese government. Hong Kong is considered a special administrative region, meaning the government and economic systems are different than the rest of China.

However, this relative autonomy is now being challenged by the Hong Kong Extradition Bill, which would facilitate the deportation of Hong Kong citizens to mainland China. This is different than the current law which has been in place until now, where Hong Kong citizens who commit crimes are imprisoned in Hong Kong only.

The Hong Kong Extradition Bill has led to fears that Hong Kong’s relative sovereignty will be eroded to the point that laws in Hong Kong are the same as in mainland China. Further, Hong Kong citizens fear being deported to mainland China for trial since the laws are different and apparently harsher.

The protests started in March and April, and by June they escalated with up to 1 million people marching through the streets. This caused the Hong Kong government to suspend the extradition bill on 15 June, although the bill was not outright withdrawn like protestor’s demanded. This left the possibility that the bill could be approved once the protests halted, so the protests have continued to prevent that.

The protests have now intensified into violence due to the arrest of over 420 protestors, which has led to protestors demanding the release of everyone who has been arrested during the protests. Further, over 230 protestors have been injured, which is leading to a feedback loop of increasing violence.

Tragically, 5 Hong Kong citizens have committed suicide out of fear of the extradition bill, revealing how these protests to maintain Hong Kong’s autonomy and legal system is a life and death battle for some. Indeed, now there is even speculation that the Chinese military may move in to stop the protests, sparking fears of a Tiananmen Square Massacre redux.

Capital flight as financial save haven status in question

Before these protests, Hong Kong was considered a safe haven, where wealthy people could store their money and keep it out of the reach of the Chinese government. However, there is now fear that its legal system will be merged with the mainland China legal system if the extradition bill passes, and this would compromise Hong Kong’s safe-haven status. As Chen Zhiwu, Professor of Finance at the University of Hong Kong, says: “A number of mainlanders who live in Hong Kong told me they will emigrate if the law goes through, not only because they feel less secure about property rights but also about their personal safety.”

The result of these fears is capital flight. Marc Geary, a Managing Director at the wealth management service Major Domus says: “We have seen a trend to offshoring assets in the last few years, and the recent protests on extradition legislation are another catalyst underpinning this”. For example, during the protests, Geary has been asked to sell commercial real-estate in Hong Kong and move the proceeds to Australia.

Bitcoin usefulness?

Bitcoin’s fundamental characteristics make it perfect for those who are trying to get their money out of Hong Kong before the extradition bill passes, or before a military crackdown. This is because Bitcoin can be sent anywhere in the world instantly, is cryptographically secure, is pseudo-anonymous and requires no identification information, and can be made more anonymous if a VPN or Tor is used. Therefore, Hong Kong citizens who are trying to get their money out of Hong Kong can send Bitcoin instantly and securely out of the country, and this is far safer than using fiat payment methods which are slow, can be frozen or reversed, and require identification information.

Further, the economic disruption in Hong Kong due to the protests, and the potential for even more disruption and chaos if the military becomes involved, is causing people to sell off the Hong Kong Dollar (HKD). Therefore, Bitcoin is a good option for Hong Kong citizens who went to preserve their money, instead of losing money due to HKD inflation.

HKD running for the exits before beijing’s planned massacre. Investors have lost trust…and history tells us what happens next #bankingandcurrencycrisis #HK #china #monsters pic.twitter.com/KSdRtEcIbt

— Kyle Bass (@Jkylebass) August 5, 2019

Simultaneously, the Hong Kong stock market is quickly dropping as the protests intensify, with the Hang Seng Index (HSI) dropping from 28,300 points to 26,200 points in a week. It can be theorized that when the stock market is dropping a fraction of investors buy Bitcoin in order to protect their money, instead of losing money on the stock market.

Some of this capital flight may be happening via Bitcoin, which would apply upward pressure to the Bitcoin market. Also, devaluation of the HKD and the stock market in Hong Kong may be causing people to move their money into Bitcoin as a safe haven.

Therefore, it will be important to monitor the news in Hong Kong, since these protests may be impacting the Bitcoin market. Indeed, Bitcoin has rallied from $10,000 to $12,000 during the past week as protests have intensified, although to be clear, the Hong Kong protests are only one factor in this week’s Bitcoin rally.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Oil on Fire: How Hong Kong’s Worsening Riots Could Be Fueling Bitcoin Rally appeared first on BitcoinNews.com.

Chinese Capital Controls Turn the Heat on for Bitcoin

Chinese Capital Controls Have Likely Been An Influence On This Year's Bitcoin Rally

Bitcoin has rallied from USD 3,000 in February to nearly USD 12,000 at the time of this writing in early August, and Chinese capital controls may be an important factor in this year’s Bitcoin rally.

China has a long history of capital controls, which essentially means that Chinese citizens are not allowed to freely move their money out of the country. For example, in 2017 China lowered the international ATM withdraw limit for citizens to USD 15,000 per year, and the cap for sending money internationally is USD 50,000 per year.

The reasoning behind capital controls is that if money is kept in China then the Chinese economy will be stronger, although this is perhaps debatable since capital controls are detrimental to free trade. Another possible reason is capital controls make it difficult for Chinese citizens to leave the country permanently since most of their hard-earned money would be stuck in the bank.

China-Hong Kong money funnel’s Bitcoin correlation

Already in 2014, it was reported that Chinese citizens were using state-backed UnionPay bank cards to funnel money into Macau, from which point, Chinese citizens can withdraw the money and send the money abroad. This is due to the fact that Macau has some sovereignty and different laws than the rest of China.

Another hotspot for circumventing capital controls is Hong Kong, another territory in China similar to Macau in terms of sovereignty. Apparently, Chinese citizens overpay Hong Kong merchants for goods or services, and then for a fee that money can be withdrawn for international use. This activity actually shows up in the data for Chinese imports from Hong Kong.

Chinese imports from Hong Kong versus Bitcoin’s price with an 18-month lag. Chart courtesy of ZeroHedge

There is a striking correlation between Bitcoin’s price and Chinese imports from Hong Kong, when an 18-month lag is used for Bitcoin’s price. This indicates that when Chinese imports from Hong Kong spike, then Bitcoin begins to rally several months later. This correlation is noted for both the rally that peaked in late 2017 when Bitcoin hit USD 20,000, and for the ongoing bull run in 2019 which has brought Bitcoin as high as USD 13,800.

Specifically, Chinese imports from Hong Kong began to surge in late 2018, and that surge accelerated at the beginning of 2019. Shortly afterward in February 2019, Bitcoin’s price began to rise from its bear market low, and by April 2019, a full-fledged Bitcoin bull run was underway.

It is perhaps not surprising that Chinese capital outflows can have such a big impact on Bitcoin, since if only a small amount of the USD 22 trillion of deposits in China is sent out of the country via Bitcoin it would cause a significant Bitcoin rally, and this may be what is happening.

Trade wars and intensification of Chinese capital controls

The trade war between the United States and China has caused the Chinese government to become even more strict with their capital controls, and this may explain the recent surge in Chinese imports to Hong Kong. In May 2019, it was reported that Chinese citizens could not withdraw even small amounts of US dollars from Chinese banks, even if they are within their yearly quota. Another example is that a Chinese citizen was told they were too old, and denied the capability to send US Dollars abroad. This is somewhat shocking considering that this citizen was a banker, and had previously supported the capital controls.

It can be speculated that the recent crackdown on US dollar availability in China is happening because the Chinese government is trying to ensure that citizens use the Chinese yuan, in order to increase its value, instead of selling them off for US dollars. However, despite the laws, some citizens may be using the Hong Kong method to get their money into US dollars, especially since the yuan is losing value relative to the dollar.

Bitcoin’s good at circumventing capital controls

The link between Chinese citizens circumventing capital controls and Bitcoin’s market behavior can be explained by the fundamental characteristics of Bitcoin itself. Bitcoin can be sent anywhere in the world instantly, and Bitcoin is inherently pseudo-anonymous. Bitcoin can even be fully anonymous if a VPN or Tor is used, giving Chinese citizens peace of mind that the illegal capital outflows will not be easily traced back to them. Compare this to fiat payment methods which require full identification information. Fiat payment methods are not useful for circumventing capital controls since they could easily be linked back to Chinese citizens, possibly leading to arrest.

Indeed, there are numerous options available in Hong Kong to buy Bitcoin, further solidifying the connection between imports from China to Hong Kong and Bitcoin market behavior. Essentially, Chinese citizens overpay merchants in Hong Kong for goods and services, the merchant gives the citizen the cash in Hong Kong, then that cash can be used to buy Bitcoin, and sent anywhere in the world.

…during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%…

— Donald J. Trump (@realDonaldTrump) August 1, 2019

This data and theory indicate that it is important to monitor the news coming out of China, especially in regards to the trade war with the United States, since the increase in Chinese capital outflows since the trade war began is likely a factor in this year’s Bitcoin rally. If the trade war intensifies more, that will perhaps lead to additional gains in value for Bitcoin. Indeed, the price of Bitcoin has surged from USD 10,000 to USD 12,000 since President Trump of the United States announced additional tariffs of 10% on USD 300 billion of Chinese goods.

 

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Image Courtesy: Pixabay

The post Chinese Capital Controls Turn the Heat on for Bitcoin appeared first on BitcoinNews.com.

Blockchain Lets Filmgoers Influence Hollywood’s Multi Billion Dollar Market

Decentralized funding in many areas is gaining popularity, including the movie industry which continues to gain interest from companies such as Proxicoin and Coinbase.

Recent moves from startup Proxicoin could introduce a new aspect to filmgoers experiences, actually giving them some input into what comes out of huge markets such as Hollywood. The idea is to enable users to actually own shares in film projects through blockchain.

The company could be the first of many to tap into this profitable market, already receiving a USD 100 million from a Hong Kong investor, heralding in yet another use for blockchain as the list of applications for the technology appears to grow daily. Backed by Coinbase this startup may well have started a whole new way for investors to influence their entertainment, as a recent press release outlines:

“Individual film or television projects will undertake an IPO to be given liquidity and be easily traded with transparency, providing an efficient avenue for filmmakers seeking financing for the growing demand for new content. ESX currently has deals for listings on over 30 major feature film projects and is expected to have a significant share of the 600 major films and television shows shot annually.”

The appeal now is for an increase in platforms such as this which enable users to influence production, content, and output, and for those with families to be rewarded financially for having a say in what their children watch on film. Blockchain is now making the unthinkable possible, allowing the viewing public a share in what could become a trillion-dollar market over time.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Blockchain Lets Filmgoers Influence Hollywood’s Multi Billion Dollar Market appeared first on BitcoinNews.com.

De Vere:Threat of Labour Party Gaining Power Could Drive UK Wealthy to Crypto

UK, brit, Jeremy Corbyn, cryptocurrency, labour party, Britain

Nigel Green, founder and CEO of deVere Group, claims that wealthy Brits are considering cryptocurrency as a safe haven for their cash should Labour leader Jeremy Corbyn become UK’s Prime Minister.

With the resignation of Conservative Prime Minister Teresa May this week the fears of her party in tatters paving the way for a socialist government increase as each day passes, although a general election is still unlikely as the conservatives open the race for a new leader.

Green put these fears into the forefront of discussions about the future of the UK and Brexit when he expressed concerns about what would happen under a Corbyn led government:

“High-net-worth individuals in Britain and wealthy international investors with UK assets and business know that they will be hit by Mr. Corbyn’s tax hikes on wealth, income, and inheritance.”

Even a general election as far off as 2022 could still drive Britain’s wealthy undercover in preparation for sweeping reforms targeting the rich proposed by a left-wing leadership, according to the deVere Group founder:

“As such, many of them aren’t waiting to find out how his anti-wealth rhetoric would play out, and more and more of them are seeking advice on established, legitimate overseas opportunities to create, build, and importantly, protect their wealth.”

Green sees cryptocurrency’s as a possible safe haven for these individuals and companies, particularly in light of recent moves by some countries to offer tax breaks such as exemption from capital gains on cryptocurrencies similar to ones recently legislated by Germany.

Countries such as Hong Kong and Switzerland don’t have capital gains tax, making them the potential targets for fund relocation. “In a broader sense, high-net-worth individuals are increasingly seeking exposure to the associated benefits of these digital assets as our recent global survey highlights,” added Green. Brexit remains the elephant in the room regarding the future of politics in the UK.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post De Vere:Threat of Labour Party Gaining Power Could Drive UK Wealthy to Crypto appeared first on BitcoinNews.com.

Coinbase Adds Latin America and Southeast Asia to Its Expanding Client Base

Coinbase Adds Latin America and Southeast Asia to Its Expanding Client Base

US cryptocurrency exchange giant Coinbase is to add 11 new markets in Latin America and Southeast Asia as part of its current global expansion programme.

This is hot on the trail of its expansion in the UK market seeing revenue growth of 20% to USD 173 million, and the recent announcement of its new Coinbase card. In 2018, the exchange recorded USD 520 million in revenue according to Reuter’s latest figures.

The Visa card, linked with the Coinbase Card app for iOS and Android, is only available to UK account holders, although there are plans to add support for other European countries in the future. The card will allow worldwide purchases where crypto payments are available online or in store.

Latin America has been in Coinbase’s sights for some time, so the access to trading services in Argentina, Mexico, Peru, Colombia, and Chile won’t come as a huge surprise to those in the region, given the company’s desire to spread its services to all corners of the globe.

Southeast Asia has a booming cryptocurrency market with Japan and South Korea leading the way, so a move towards capturing a piece of the market in the region is a sound move with India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand customers now having access to Coinbase services.

With 53 countries now using Coinbase services including the recently added Andorra, Gibraltar, Guernsey, Isle of Man, Lithuania, and Iceland, the San Francisco-based company has thrown down the gauntlet to other major exchanges in its bid to become the globally dominant cryptocurrency exchange.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Coinbase Adds Latin America and Southeast Asia to Its Expanding Client Base appeared first on BitcoinNews.com.

Germany’s #2 Stock Exchange Launches Bison Crypto Trading App

Germanys No. 2 Stock Exchange Lunches Crypto Trading App, Bison

The second largest stock exchange in Germany has announced the official launch of its new cryptocurrency trading platform called Bison.

Börse Stuttgart Group enlisted developers from its digital ventures subsidiary FinTech Sowa Labs to create the exchange, citing its goal as an attempt to make cryptocurrency trading easy for investors that are used to traditional marketplaces.

In this initial launch, the smartphone application allows zero-fee trading of Bitcoin, Litecoin, Ethereum, and Ripple, offering a custodial service and escrow system from an additional subsidiary group, Blocknox.

Bison was first announced in May 2018. Its ambitious target launch date of fall 2018 was missed by months.

Users will need a German checking account to access Bison services, which for right now, will only be accessible from 6:00 a.m. to 12:00 a.m. CET. Stuttgart Börse shared ambitions of opening up access to European countries towards the end of the year.

Other major stock exchanges have also shared ambitions of launching simal platforms; both the Stock Exchange of Thailand and the New York Stock Exchange have plans in motion to develop their own products. The London  Stock Exchange Group is aiding Hong Kong officials to develop their own digit asset exchange.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Germany’s #2 Stock Exchange Launches Bison Crypto Trading App appeared first on BitcoinNews.com.

Malta Now Tops the World in Crypto Trading With $40 Billion Volume

malta

Just in case crypto watchers haven’t noticed, a recent exchange report confirmed that Malta hasn’t simply slipped under the radar to become the country with the largest crypto trading volumes worldwide, but is planning to retain this accolade.

Both Binance and OKEx signed agreements with the Maltese Stock Exchange (MSX) to create regulated security token exchange platforms in 2018, illustrating the popularity of Malta as a European blockchain and crypto hub. At the end of 2018, Malta’s Parliamentary Secretary Silvio Schembri announced during Delta Summit 2018 that Malta wants to be leading the cryptocurrency race, not be the last one in.

Figures bear out where Malta stands in the crypto race at the moment, with the country’s exchanges processing just under $40 billion worth of cryptocurrencies by December of 2018; to put things in perspective that’s twice as much as the US, the fifth largest crypto trading hub.

The reason why Malta has achieved this success story is best summed up by Charles Hayter, co-founder of CryptoCompare who carried out the most recent report, claiming Malta has simply “carved out a crypto-friendly regulatory atmosphere,” which is why it is now home to some of the world’s largest exchanges.

Malta is supported from the very top, which is perhaps the most significant reason for its success, with both its prime minister Joseph Muscat, and finance minister Silvio Schembri leading the charge. Muscat has called cryptocurrencies the “inevitable future of money” with Schembri predicting that his country will become the “epicenter of the Blockchain industry.”

Joining Malta, Hong Kong, and the U.S. in the top five was Samoa, despite recent warnings from the country’s central bank that nationals should be careful if investing in digital currencies on the internet.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Malta Now Tops the World in Crypto Trading With $40 Billion Volume appeared first on BitcoinNews.com.

ATMs Still Gaining Popularity Globally with 5 Daily Installations

ATMs Still Gaining Popularity Globally with 5 Daily Installations

The installation of cryptocurrency ATMs continues around the world as it has done throughout 2017, despite the crypto market downturn.

Newly-published figures indicate that new installations have taken the number of extant machines around the globe past the 4,000 total. This illustrates the degree to which users are increasingly needing a convenient way to access their crypto assets.

According to industry statistics aggregator Coin ATM Radar the current installment rate is now 4.9 a day. The new data breaks down the spread of crypto ATMs, suggesting that actual locations have changed little with the majority of the machines still being located in North America, followed by Europe with roughly a third of the North American total which currently has 72% of the global total actively in use.

Hong Kong represents Asia’s biggest market for crypto ATMs, accounting for 0.8% of the world’s active ATMs. In Europe, Austrians and the UK public are the most prominent users of machines on that continent. Lagging behind is Oceania, which includes major crypto user Australia, South America. The African continent has only 0.2% of the global usage, despite an increased interest in cryptocurrencies in 2018.

In the US, the country showing the biggest increase in installations in 2018 with 1,259 new active ATMs, California (473) and Illinois (250) have the largest number of machines in the country. The figures show that Bitcoin is supported by 99.9% of the world’s 4,167 machines.

The token break down shows a  59.5% support for Litecoin (LTC), 49.3% support for Ethereum (ETH) and 33.9% support for Bitcoin Cash (BCH). Dash (DASH) is supported by 17.9% of ATMs, while Monero (XMR), Dogecoin (DOGE) and ZCash (ZEC) are each supported by 3% or less.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy:

The post ATMs Still Gaining Popularity Globally with 5 Daily Installations appeared first on BitcoinNews.com.