Bitcoin Forum

A major cryptocurrency exchange in India, Unocoin, has confirmed that it is launching crypto ATMs. While a formal announcement has not been made, an image of one of the exchange’s ATMs spreading on social media suggests that the machines support at least five cryptocurrencies.

Unocoin, one of the largest cryptocurrency exchanges in India with over 1.2 million customers, is preparing to launch its own line of crypto automated teller machines (ATMs). An image of one of the exchange’s machines has been extensively shared on social media since Tuesday.

https://news.bitcoin.com/indian-exchange-unocoin-atms/

I'm not familiar with Unocoin but if they are one of the major exchange on India this only solves one mystery that has been rotating on the web about ban on their country. Good that they are going to launch crypto ATM to make it easier but one thing that came to my mind are the fees. There's a big market for crypto ATM and this is going to be one of the biggest industry soon so while its early others that can cater this industry should follow.

I am beggining to think that ATM is next in line in profit making in the crypto world, Many projects are launching their own ATMs, the other day Travelflex coin purchase 100 ATM/CDM machine which could be in use on or before 1st quarter of 2019.

Hmm, how is it even possible? India has banned the use of banks in crypto deals. We aren't able to trade crypto-fiat pairs on Indian crypto exchanges, even after KYC verification. Everyone is waiting for the Supreme Court's decision regarding the ban. And during these times, the idea of crypto ATM sounds totally impossible in India.

These ATM's look nice. Unfortunately there is only one two-way ATM at this time where I'm from. People in India should be really happy about these, because it will make crypto their more mainstream. Of course it will take time, but it is a step in the right direction. Other countries should follow this!

this is very good news for the crypto world, I very much hope that in the future many countries will take the example of India and start launching projects in which it will be possible to instantly withdraw their tokens into Fiat money, then the cryptocurrency market will be much more stable.

Always glad to see more Bitcoin ATMs around, however what I'm not glad to see are those damn fees. Have you seen the fees that most ATMs charge? It's usually more than 10% which is just insane. Must be quite a lucrative business to run a crypto ATM in a hotspot though, however in many places I doubt it would see much use.

I'm not familiar with Unocoin exchange , but I think it's a great news for crypto , because India is huge market and crypto ATMs will make cryptocurency more easily accessible and popular among people and it can positively affect a whole crypto industry.

India would love ATM machines because their government keeps banning crypto assets with big Indian exchanges having to close down. Now they can invest anonymously for those that really believe in it, ATM machines have high fees but sometimes it is worth it, especially in this bear market

I'm always glad to see good news about cryptocurrencies! Hopefully, it's not fake. In India, it's an uneasy situation with cryptocurrencies and laws on the blockchain, but it'll be cool if cryptocurrencies will be legalized!

I consider it to be poor descisios assuming current state of Indian economy. You need to put money off the shadows and not in the shadows.

I'm not sure if you guys are aware, but this ATM stunt went really bad. These guys erected a crypto ATM for sale and purchase of cryptos without taking permission from any of the governing authorities and in midst of crypto ban like situation in India. it ended up bad for these guys. Their Vice-President was arrested; his mobiles, hardware wallets, cash and this ATM confiscated. India clearly seems to have a hard stance against cryptos and I don't think they'll ever legalize it this way. Sad to see India going this route while other countries are profiting from the crypto revolution...

This is wonderful news for Indians, the government non support of crypto is making crypto use difficult for them, i hope soon in my country ATMs like this will be available.

great news, but we need more such news to launch growth of crypto market. Unfortunately, that is just a drop in a big ocean and there are still billions people who didn`t hear about crypto

it sounds good for me personally. As far as i know that if there will be an ATM in india and that means if the regulators have been giving a permission to that Exchange to launch its crypto ATM. I would like to see the more development and update regarding this news and it will be a very interesting thing.

I think that this is a very good news that will certainly contribute to the development of cryptocurrencies. Last year, due to the ban in China, the cryptocurrency market went down significantly, but if you develop cryptocurrencies in India, it will be an excellent substitute for China.

It wasn't crypto currency ATM but it was KIOSK, due to misunderstanding of term used ATM it relates with the bank and the CEO and co-founder of the unocoin got arrested by Bangalore Police. There still very unclear regulation and miss guidelines from the Indian government about crypto currency in India.

I do not think that will be easy in india as mostly the crypto related news we read out of india is negative, mostly govt is seen trying to ban crypto in such environment how will they setup crypto atm when govt is taking crypto as illegal.?

These are good news that are to shoot up cryptocurrency price but what we see nowadays are the opposite of what use to happen in the past. Though we hope this will bring more light to more investors to invest in cryptocurrency, it's a welcome development from Indian as a country that understand and accept cryptocurrency.

I'm not familiar with this exchange.  I hope they won't disappoint like bitxoxo who can put up an exchange properly for the past 3 month

Is is clear what kind of cryptocurrency will be available? And will it work in both ways? I mean will people will be able to fullfill their cryptocurrency wallets using fiat cash.

India is huge market and it is great news. Moreover, I hope that something similar could be launched in European countries in the nearest future. Such move will help wide cryptocurrency adoption.

ATMs are not very comfortable, because there may be cameras and authorities are still able to watch you. In the same time, it is good for community?

But the camera only looks at the place for security. Any on-board camera on the ATM unit itself belongs to the exchange or bank that placed it. There is no connection.

Special thanks to Unocoin as they have decided to launch crypto ATMs in India. Unocoin going to make a new era for Indian crypto adoptors by installing this ATMs machine crypto dealers will easily make the transaction and exchange as well. So it seems more Indian crypro will be added soon.