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Author Topic: [2017-05-29]We Plan To Open 5,000 Bitcoin ATMs in Europe in 2017: Bitlish  (Read 3320 times)
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May 29, 2017, 05:56:27 PM
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We Plan To Open 5,000 Bitcoin ATMs in Europe in 2017: Bitlish

Bitcoin ATM provider Bitlish was the first to open a bonafide BTM in Russia, but it is its expansion plans that are likely to get the market talking.

Despite the growing presence of BTMs in Europe, usage is still limited.

Not inconsiderable fees, as well as a lack of general consumer understanding, mean that online options remain the go-to source for both novice and experienced traders to exchange crypto for fiat and vice versa.



Read More: https://cointelegraph.com/news/we-plan-to-open-5000-bitcoin-atms-in-europe-in-2017-bitlish
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May 29, 2017, 07:07:34 PM
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Bitcoin ATMs are still largely a novelty - if people wanted to pay fees of >5% to use Bitcoin, there would be little point having it in the first place, from your average person's perspective anyway.

Just a couple of the obvious problems with Bitcoin ATMs:

-Crazy fees, because they expect newbies to put up with it for the novelty of owning Bitcoin

-Long confirmation times for newbies and confusion about what they had to do would cause insane queues if they were used more than a few times per day

Unless they manage them very well and set very low fees (which they won't if they end up being a monopoly) theb the only point of them being there is to show people what Bitcoin is.




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May 29, 2017, 09:00:27 PM
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When factoring all the time it takes to KYC/AML to use the exchange and the deposit time involved when moving funds from the bank.
For immediate transactions Bitcoin machines will retain their marketshare.

"This year is set to see much more from Bitlish, with an eye-popping 5,000 machines planned Europe-wide in 2017 alone."
5K is a bit much unless they mean mobile or the equivalent.
Currently, fewer than 200 machines are listed as operational on Bitcoin ATM finder CoinATMRadar. The country with the most machines is the UK, with 68.
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