Bitcoin Forum

I've read that Estonua decided to set ATMs for cryptocurrency! Moreover, I heard that one European project is preparing to make cryptocurrency debit cards, which almost all over Europe can be used to pay as classic banking. So Estonia decided to be ahead again and put ATMs! That's what I understand a good business approach!

They went a revolutionary way long ago, changing their economy and service systems according to a scheme close to the blockchain. I am glad to know that they are moving forward and are trying to usefully integrate modern technologies. And they help the spread of cryptocurrency, although many people living next to such a progressive country do not even have an idea what and how it all works. And I am sad that I have such a situation in the country. I will probably go to Estonia

Estonia is so easily drawn to new technologies, because they have already completely changed even their basic education system. But when in country everything goes along the old rails, I don’t think that the majority that knows cryptocurrency will appear soon. The only plus is that there are already independent educational platforms such as taklimakan, where everyone, regardless of the country, can use educational materials and improve their understanding of the blockchain, cryptocurrency, trade

I agree, it is necessary to give specific courses of practical use of modern technologies, including the blockchain, and not to continue learning from old textbooks and methods.

Have seen this on reddit:

https://www.reddit.com/r/CryptoCurrency/comments/bkuq4j/crypto_atms_appear_in_estonia (https://www.reddit.com/r/CryptoCurrency/comments/bkuq4j/crypto_atms_appear_in_estonia)/

This is not shocking since Estonia is one of the countries known to adopt cryptocurrency and blockchain tech. They have digitalized their services and there were even companies in their country using blockchain technology. So, they are way ahead with regards to cryptocurrency adaptation compared to other countries.

Here is a link for reference:

https://www.blockchain-council.org/blockchain/top-10-countries-leading-blockchain-technology-in-the-world (https://www.blockchain-council.org/blockchain/top-10-countries-leading-blockchain-technology-in-the-world)/

Have you seen this cryptocurrency ATM? I wonder exactly how they work. Can the FIAT-Crypto-FIAT trade be fully decentralized? And do you have a security camera? I ask this because it is possible to monitor the movements via the security camera.

Cryptocurrency ATM is a great idea to quickly exchange digital currency for fiat. No need to spend time to go to the exchange. Great idea

Looks like this is the first time you are hearing about crypto ATMs. Check out this link to understand how they function:

https://coincodex.com/article/1965/what-is-a-cryptocurrency-atm/

Also, what do you mean by monitoring movements? Anonymity is the primary logic behind using crypto which is why I don't understand what you are trying to say here.

Yeah, it's probably a little unfair that countries like Estonia have an unwarranted reputation that makes it hard for them to attract FDI, even in fintech. Read about a UK fintech firm that decided to settle in the Netherlands (about 100++ firms started to do this preempting the Brexit fallout, even if now it seems No Deal is on the cards) simply because their existing clients would see Eastern Europe or the Baltics as undesirable -- despite actually no bad precedence in these countries (unlike Netherlands and other parts of Western Europe with a solid reputation for being the bad boys of tax evasion, for example).

Their e-citizenship, their voting system, their great exchange licencing system. All good examples of how far ahead of the curve they've been for a while.

Crypto ATMs appearing in Estonia is not a big news in my consideration. Already Estonia is one among the well established country with blockchain technology adoption. Importantly almost 99% of things have been functional through blockchain technology and it has been legally supported by the government of Estonia. Now ATMs into usage in Estonia will make rest of the people who haven't used to cryptocurrency.

As your article is saying, their average fee is almost 10%, which is huge AF.
You can randomly walk down the street, decide to buy an ice cream in the shop that does not accept cards. So you see the first ATM and withdrawing some money. People are not following that logic when they need to sell crypto. The idea to sell BTC is not coming to my mind when I am randomly walkng somewhere. In this case I have enough time to sell BTC somewhere else with lower fees.
Crypto ATMs are definitely not a bad thing but unfortunately a useless one.

I think a lot of other countries are getting more and more Crypto related applications in their daily lives. I know that there are projects like CryptoBuyer that have been in the industry for a long time and had managed to establish a crypto ATM for the people. I know their targets are the fully inflated countries because of the "printing of money out of thin air problem". I know that people there don't want to bring a wad of cash just to buy a coffee or something. More applications and more adoptions, please! Lol.

Maybe you have link where did you read that article? It would be interesting to see it. According to CoinATMradar.com, there is 6 Crypto ATM's in Estonia already, all located in capital Talinn. Will it be instalked by other company than now? Maybe there is plans to expand network of ATM's to other cities. Anyway, I'm not sure that crypto ATM's is such meaningful thing. Offcourse, these news are positive, it increase crypto avareness, but I doubt that number of potential crypto ATM users is big in Estonia, especially knowing their small population.

I'm not sure about what unwarranted reputation of Estonia you're talking about. I only know one recent money laundering scandal in Estonia, but it was done through Scandinavian banks. But in general, Estonia is know as one of the most progressive countries in Europe. And with fear of Brexit, Estonia will be among first choices for FDI, fintech's and etc. I can even give one example, it's Revolut. Where did they got banking license few months ago? In Lithuania (not Estonia, but their neighbour country in Estern Europe). So, I'm not sure why you are saying that Estern Europe and Baltics is undesirable.

Estonia has a bigger edge of cryptocurrency adoption than other countries and they are lucky because aside from having advanced technology, they're also able to develop crypto in more aspects. Knowing that there are already lots of crypto ATMs in Estonia makes me feel envy because their willingness to adopt crypto also benefits them in so many ways. It could also attract and encourage more people in their country to use cryptocurrency.

Is good that bitcoin ATM appears on Europe, i wish also a lot of new countries to bring some ATM and people can buy bitcoin and only on this way can have mass adoption over time.

I'm not really surprised that Estonia has joined the promotion of cryptocurrency. Estonia is one of the country with highly advanced Internet technology and considered the first country to introduce voting online. This country understands the vital role the internet plays in our modern world. Such country also understand the role and purpose for need of digital currencies (cryptocurrencies) which present decentralized system to promote financial freedom and eliminate all third party systems used in transaction of goods and services. I just wished other countries can learn from how Estonia support the movement of cryptocurrencies.  

Well yeah, it's on reddit and checking it on coinatmradar, you have about 6 crypto atm's there.

--> https://coinatmradar.com/country/67/bitcoin-atm-estonia/

It's just on reddit, haven't seen other articles.

It is a very good news and interesting about the crypto lovers and for the people of Estonia it will be a convenient way to use their coins at different places and with different times they can withdraw their cash in form of local currencies or easily it can be in Dollar as well.
Like Estonia in so many other countries will see the effects of this ATMs there and they will realize the importance of that but for our country it is very impossible if they start in 2019 and after so it is an opportunity for us.

What bank in Estonia backs the launch of crypto ATMs? This is another step for crypto to move forward especially if many countries will decide to do the same with Estonia. I wonder also if Estonia legalize already the use of crypto currency.

Once every country can see the good approach in adapting crypto in their country. This will surely trigger the continuous price increase in every currency that has potential. Which is a good news to all the solid supporters of crypto.

This is what I meant exactly by unwarranted so please understand what I'm saying.

Like it or not, they just don't have a desirable reputation in fintech or even finance. I have close friends in compliance (finance) who also can't explain it. They'd give a workshop in Western European conferences and in training workshops and tests, industry people repeatedly put low scores against these countries because in their minds, they're just no as "safe" reputation-wise, as Western Europe DESPITE how clean they are compared to WE.

Getting a licence from Estonia isn't the same thing as setting up shop in Estonia. Read  for example, about how UK fintechs are seeking to relocate to Western Europe because of Brexit. Estonia would welcome them with open arms but their clients simply wouldn't sit well.

In the article, Azimo talks about this unwarranted rep. Here's the quote:

 (https://www.politico.eu/article/how-a-footloose-fintech-did-its-brexit-jurisdiction-shopping/[/url)

Don't be surprised as those nations Lithuania, Latvia and Estonia and known as “Bitcoin Tigers” of Europe. You can go and search about buying coffee's and apartments can be done on either of the three countries. Estonia has really pursue a complete re-structuring, reforms and strives to be one of the most friendliest crypto countries around.

Apparently Estonia is the real crypto, sandbox of the European Union.I have already met many cryptocurrency startups in this country and they are all very successful.The emergence of crypto-bankers was most likely planned long ago.This of course is very pleasing. I would certainly like to see a link to this news.

         To my opinion Estonia is the most suitable for crypto startups since it has the highest rates of internet  use and has had Bitcoin ATMs in the capital . Thousands of users world wide adopt crypto coins so we can find  a growing trend towards crypto ATMs . The countries having the highest crypto ATMs are the Western countries associated with blockchain technologies. .

Great news but I'm surprised that Estonia did not get an crypto ATM even a lot earlier.
They are the most digitalized country in the world, as I heard, so I was thinking that they already have crypto ATM.
Do you know which crypto currencies this ATM will accept?
Which firm stands behind that project?

It is remarkable that not only in Estonia will we adopt Crypto but in every country, because taking this step means that the country is experiencing progress in crypto technology

I'm actually not really surprised at all. I see Bitcoin ATMs as a rather pre-adoption stage kind of indicator. I would and have never used an ATM to get my crypto, and I'm not aware of anyone who isn't American who's ever considered, much less use an ATM to get/sell crypto.

IF you think about it, the place Estonia is at with crypto adoption, with blockchain legislature, with acceptance, it probably just skipped the ATM phase, and whatever machines come up now they're just there belatedly.

because of crypto ATM installation are rare. I am very curious about how it work and how to verify wallet. or maybe the crypto wallet balance are changed to a debit card, and what rate did used for exchange crypto to fiat?
in my opinion it would be more beneficial if a global Bank ATM was integrated with blockchain can be used to withdraw fiat without having to use crypto-specific ATMs.

I know that we are used to thinking about ATMs as things where we put our debit cards and receive cash from them, but Bitcoin ATMs are not connected to cards. In an ATM like this, you follow the instructions using, say, a smartphone, so while both events have to do with Bitcoin adoption, they are not connected. And Estonia is not really ahead. The ATMs have been around in Europe for a while. See for yourself: https://coinatmradar.com/countries/. It's nice that these ATMs are out there, but I personally would avoid using them, primarily because of the fees they impose on users. Although I agree that having cash is sometimes still necessary and convenient.

It's always a joy when amidst all these negativity about cryptocurrencies you still hear news about initiatives being put in place to ensure the adoption of bitcoin and other cryptocurrencies as payment methods. I hope this initiative in Estonia becomes a great success!

I would like to know if there is any source of this statement because it is very interesting and actually good news to all of us because adoption is really happening slowly but surely. Here in our place there are already crypto machine (BITCOIN ATM) and we are hoping for more type of this ATM machine.

Crypto ATM's will be all around the world in next 5-10 years, it will be the best efficient way to withdraw Fiat.

Ok so it finally reached Estonia :o
I read about it few months ago where was checking the veridity of the information and looks like it was true.
Glad that more countries are adopting this solution and let's hope for even more to come.

There are thousands of crypto ATM's existing around the world and they are pretty much in every country existing that has the potential of bringing new people to buy bitcoin. It's a good thing to see that even more ATM's start appearing around the world because this way people are able to buy crypto from anywhere just by using cash. Now,I also hope the number of shops and merchants accepting crypto will increase so that we have more options available to spend the crypto we buy.

Estonia indeed is one of the leading countries in the world in technology and cryptos are welcomed there.
From there comes also an incredibly strong project with a lot of potential, called Yanu.ai
Being from this country, it makes me excited to see where things will lead :)