[2017-11-18]Major ATM Manufacturer Integrates Bitcoin, Exposure to Millions.....

[Diced90]

Major ATM Manufacturer Integrates Bitcoin, Exposure to Millions of Users

South Korea’s Hyosung, one of the largest ATM manufacturers in Asia, which also has its headquarters in Texas, has officially integrated Bitcoin into its international ATM models.

Importance of Hyosung’s Bitcoin integration
Since 2014 Hyosung has collaborated with leading Bitcoin service providers within the South Korean cryptocurrency industry such as the Tim Draper-backed Coinplug. For over three years Hyosung has enabled South Korean ATM users to buy and sell Bitcoin through tens of thousands of Hyosung ATMs, located at nearly every convenience store and subway station.

Through the Coinplug mobile app, Hyosung has allowed South Korean users to easily withdraw and deposit cash to sell or obtain Bitcoin, increasing the liquidity of Bitcoin for general consumers in the region.

Readmore https://cointelegraph.com/news/major-atm-manufacturer-integrates-bitcoin-exposure-to-millions-of-users

[Kprawn]

Most ATMs can be converted to support Bitcoin, it is just up to these manufacturers to custom fit these ATMs with a add-on

module or a plugin to give that extra support. The older ATMs might be a bit of a challenge, but the ATMs being

manufactured now should allow that functionality. 

[Cloud27]

Major ATM Manufacturer Integrates Bitcoin, Exposure to Millions of Users

....A handful of companies including Coins.ph of the Philippines, the largest Bitcoin brokerage in Asia with nearly 3 million active users, are working to provide services for general consumers and small-scale Bitcoin investors.
In the long-term, the integration of Bitcoin into hundreds of thousands of bank ATMs globally would further increase the mainstream adoption of Bitcoin.

Readmore https://cointelegraph.com/news/major-atm-manufacturer-integrates-bitcoin-exposure-to-millions-of-users

I hope that Coins.ph of the Philippines will not collaborate with any local banks. Since it will make some added transaction fee coming from local banks. I hope Coins.ph has the courage to provide their own bitcoin ATM for their loyal users. It will serve the best interest of peer-to-peer transaction.

[DaveWave]

Major ATM Manufacturer Integrates Bitcoin, Exposure to Millions of Users

....A handful of companies including Coins.ph of the Philippines, the largest Bitcoin brokerage in Asia with nearly 3 million active users, are working to provide services for general consumers and small-scale Bitcoin investors.
In the long-term, the integration of Bitcoin into hundreds of thousands of bank ATMs globally would further increase the mainstream adoption of Bitcoin.

Readmore https://cointelegraph.com/news/major-atm-manufacturer-integrates-bitcoin-exposure-to-millions-of-users

I hope that Coins.ph of the Philippines will not collaborate with any local banks. Since it will make some added transaction fee coming from local banks. I hope Coins.ph has the courage to provide their own bitcoin ATM for their loyal users. It will serve the best interest of peer-to-peer transaction.

Still it needs to be integrated with fiat. Love or hate it, the rich people can always participate on some aspects in crypto. The good thing is they ca never do anything on its decentralized nature which made it unique and cannot be manipulated.

[Terraformer]

Most ATMs can be converted to support Bitcoin, it is just up to these manufacturers to custom fit these ATMs with a add-on

module or a plugin to give that extra support. The older ATMs might be a bit of a challenge, but the ATMs being

manufactured now should allow that functionality. 

Are you sure about this? Where you got this information about ATM simplicity and lightness transformation process? Blockchain technology is little more complex than traditional money transfer, maybe it requires hardware update, for better secure and transaction approval.

[1Referee]

Are you sure about this? Where you got this information about ATM simplicity and lightness transformation process? Blockchain technology is little more complex than traditional money transfer, maybe it requires hardware update, for better secure and transaction approval.

It's already reality in Slovenia. It's perhaps still a very simple form of integrating Bitcoin in a traditional ATM, but at least it's quite effective from the looks. In easy to explain terms, it's like a voucher/paper wallet that gets printed out through the traditional ATM slip part, where you can redeem your coins afterwards when you're at home, or through a mobile wallet client. It's just one way traffic at this point, but who knows, they at some point in the future might allow people to not only buy, but also sell their coins through that bank ATM. It's definitely a massive step forward when it comes to making Bitcoin more accessible to the entire world, and especially for the average joes.

[Lancusters]

Are you sure about this? Where you got this information about ATM simplicity and lightness transformation process? Blockchain technology is little more complex than traditional money transfer, maybe it requires hardware update, for better secure and transaction approval.

It's already reality in Slovenia. It's perhaps still a very simple form of integrating Bitcoin in a traditional ATM, but at least it's quite effective from the looks. In easy to explain terms, it's like a voucher/paper wallet that gets printed out through the traditional ATM slip part, where you can redeem your coins afterwards when you're at home, or through a mobile wallet client. It's just one way traffic at this point, but who knows, they at some point in the future might allow people to not only buy, but also sell their coins through that bank ATM. It's definitely a massive step forward when it comes to making Bitcoin more accessible to the entire world, and especially for the average joes.

I do not understand your joy about the existence of bitcoin ATMs. The percentage of cashing these ATMs is much higher than in the online exchange. It is necessary to search in the city. Why all this if you can buy everything using your Bank card at home and from your computer to restore the balance. Why complicate your life?

[Domenc]

Increasing demands has made Banks to think and integrate their ATM for Bitcoin now. Moreover, Banks have clearly understood the gains from such transactions. But, one should also note that operating from such ATM might not be profitable as they will charge high transaction fees but on the other hand they can easily provide users instant cash at the time of emergency. But currently such ATM are only exciting at distant places, one can expect such ATM at frequent places which will further create an ease for Bitcoin holders.

[1Referee]

I do not understand your joy about the existence of bitcoin ATMs. The percentage of cashing these ATMs is much higher than in the online exchange. It is necessary to search in the city. Why all this if you can buy everything using your Bank card at home and from your computer to restore the balance. Why complicate your life?

1] Not everyone is interested in signing up at exchanges and walking themselves through ID verification which can take quite a long time.
2] Not everyone has access to a service dedicated to buying and selling Bitcoin, which nowadays more and more requires verification too.
3] It allows someone not into Bitcoin to buy Bitcoin without verification at any time of the day if that person so wish.

Bitcoin related ATM's, if they are being operated through regular bank ATM's are everywhere, so how exactly will this be a hassle when it comes to locating these type of ATM's? Even BTM's (dedicated Bitcoin ATM's) are easily to track by a quick search on internet, or through an app. Everything better than making use of an exchange where you have to verify yourself.

[Samarkand]

...
Bitcoin related ATM's, if they are being operated through regular bank ATM's are everywhere, so how exactly will this be a hassle when it comes to locating these type of ATM's? Even BTM's (dedicated Bitcoin ATM's) are easily to track by a quick search on internet, or through an app. Everything better than making use of an exchange where you have to verify yourself.

I can recommend this site for tracking Bitcoin ATMs in your area of the world:
https://coinatmradar.com/

They currently show over 1800 Bitcoin ATMs with a lot of other services that are related to Bitcoin in another way.

However, many of these ATMs actually do require verification. The ATMs by a certain operator even require
a scan of your fingerprint (!), which is obviously even more intrusive than the KYC/AML requirements
of the most online exchanges.

Another problem are the huge fees in some parts of the world. E.g. the only listed service that sells Bitcoin for cash
in Africa is charging a 15% markup on the Bitstamp exchange rate.

[rjbtc2017]

In my country, I never yet heard Bitcoin ATM is officially exclusive and already approved but with this news , I can sense thqt other countries may now start implementing Bitcoin ATM. This is just only the start for a bright future ahead of us.

I want also to maintain the security and anonimity of each users, ATM shouldn't be on malls or just on open spqces, i want it to have their own booth for additional security and anonimity.

[Guardian.P]

This is such a popular topic about ATMs that I'm not surprised anymore. It was better to make ATMs with the output of the output directly. And then many make cards and at that already become an intermediary

[Gotottack]

This is such a huge development in the world of cryptocurrencies. Imagine a society where there is wide acceptance as to what you are up to because they have a ready know-how as to the subject matter? What a beautiful world it is to live in that kind of environment. Nonetheless, there are added risks on this development. As far as I am concerned, they are as follows:

a) Banks may be able to obtain a copy on how these cryptocurrencies are generated through the said ATM.

b) There may be data sharing that is available to banks and in some instances, to manufacturers.

c) Hacking of accounts may increase in number.

[Cutekittens21]

I have seen a few bitcoin atms here in the US. I wonder what types of problems these will have. New technology always means new vulnerabilities.