Bitcoin ATMs should target developing and third world countries

[Pursuer]

as far as I know ATMs have higher fees and in short it would cost you more to buy from an ATM compared to buying using most other methods. that means ATM machines only have a certain client type, they are not exactly for increasing adoption. at least not yet.
the developing countries first need some regular places such as exchanges to buy bitcoin at then move to additional options for special purposes such as ATMs. otherwise it will be an unused option in my opinion.

[1715640520]

1715640520

[1715640520]

1715640520

[1715640520]

1715640520

[blockmanity]

Someone tried and got arrested in India - https://qz.com/india/1435092/unocoins-bitcoin-atm-seized-by-indian-police/

What the media didn't cover was that the arrest was false. The government or the bank did not authorize it, but rather policemen acted on their own behalf. Once the matter was cleared, the founder was free to go.

[blockmanity]

as far as I know ATMs have higher fees and in short it would cost you more to buy from an ATM compared to buying using most other methods. that means ATM machines only have a certain client type, they are not exactly for increasing adoption. at least not yet.
the developing countries first need some regular places such as exchanges to buy bitcoin at then move to additional options for special purposes such as ATMs. otherwise it will be an unused option in my opinion.

Bitcoins vouchers can be bought from Amazon these days and be fulfilled by global stores. What developing country needs is a quick access of funds, ATMs provide that. Moreover Cash cannot be traced, an online bank transfer can be traced, and the person can be flagged.

I agree, small steps though can improve the experience.

[Pursuer]

as far as I know ATMs have higher fees and in short it would cost you more to buy from an ATM compared to buying using most other methods. that means ATM machines only have a certain client type, they are not exactly for increasing adoption. at least not yet.
the developing countries first need some regular places such as exchanges to buy bitcoin at then move to additional options for special purposes such as ATMs. otherwise it will be an unused option in my opinion.

Bitcoins vouchers can be bought from Amazon these days and be fulfilled by global stores. What developing country needs is a quick access of funds, ATMs provide that. Moreover Cash cannot be traced, an online bank transfer can be traced, and the person can be flagged.

I agree, small steps though can improve the experience.

well, speaking about majority, my point was that they don't really care much about that kind of anonymity that ATMs and "cash" provides for them which is why purchasing from a bitcoin ATM costs more in first place. they want more convenient ways to purchase bitcoin and at a cheaper rate. and exchanges can provide that for them. specially some local exchange that doesn't require oversees wire transfer of money with high fees to get to foreign exchanges like Coinbase, bitstam,...

[SIDDHI777]

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

I agree focusing only on developed countries like USA, Canada,Japan can make a imbalance on the use of bitcoin in the world but when putting ATM machines in developing countries people should consider about there technological advancement too because even the world is very developed in technology still majority of developing country people have very low knowledge of using even basic technological facilities so ATM machines should be placed by considering essential facts for more balance to increase btc users

[baghdatis1990]

          Bitcoin ATMs will go where there is a request for them. People in developed countries know the crypto market well, so demand is high. I think the bitcoin ATM number will grow in developing countries, when more and more people will discover the crypto market and use cryptocurrency. Unfortunately, the countries of the world 3 are strong with poor people, so the implementation of ATMs will be very difficult or almost impossible.

[stompix]

In most African countries bitcoin is legal and there is freedom to trade, own, buy and sell. I do not think the lack of a active regulations from the government should limit the growth of the industry, when it is considered legal and acceptable by that government. The citizens are the community base in those nations

Source for this?
Note that the fact that there is no legislation about it doesn't make it legal.

Bitcoin ATMs will go where there is a request for them.
<..>
Unfortunately, the countries of the world 3 are strong with poor people, so the implementation of ATMs will be very difficult or almost impossible.

Yeah, the truth nobody wants to hear.
Bitcoin business are not about principles, dreams, blue unicorns, but like others business about one thing: Profit!!!
And you won't make a profit if the richest guy in town is earning barely two times the transaction fee a day.

Every time I read about the 3rd world countries here on btctalk I wonder what is this obsession people have with them, thinking bitcoin will start a new revolution and suddenly because of a few satoshis Mali will surpass Japan.

[100bitcoin]

Someone tried and got arrested in India - https://qz.com/india/1435092/unocoins-bitcoin-atm-seized-by-indian-police/

What the media didn't cover was that the arrest was false. The government or the bank did not authorize it, but rather policemen acted on their own behalf. Once the matter was cleared, the founder was free to go.

If you were right, Unocoin would not have to close their ATM. It is closed till date.

[Teamfearless]

yes i got this idea too but  in developing counties banks and all the financial institutions belong to the politician .. so they know what bitcoin can do to stop them from cheating and stealing peoples money so they are trying to everything they can to paint bitcoin and other Altcoin as a scam..  I am from West Africa Ghana ..  Bank of Ghana has officially announce crypto as a scam and ponzi scheme .. So its hard to get people to trust bitcoin in my country now ..  But very soon me and my team will start putting  Bitcoin ATM in my county  ..

[Netnox]

I don't know who are the guys using ATM nowadays. It is much more easier to get BTC from the online exchanges.

[trader34]

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

Yes, I think you're right. However, I believe that Bitcoin ATM manufacturers mainly install them in the developed countries for greater legal certainties that they found there rather than in the developing countries and also because, being companies, they have to make profits. In the richest countries, there are more probably more customers and more transactions that let them earn money.

[PeRo]

Bitcoin ATM's are made for profit, because they have big difference in buy and sell price and big transaction fees. So it isn't really profitable for those companies to put the ATM's in non developed countries because they can put them in big cities where Bitcoin is endorsed and adopted so they can make a lot of money.

[blockmanity]

Someone tried and got arrested in India - https://qz.com/india/1435092/unocoins-bitcoin-atm-seized-by-indian-police/

What the media didn't cover was that the arrest was false. The government or the bank did not authorize it, but rather policemen acted on their own behalf. Once the matter was cleared, the founder was free to go.

If you were right, Unocoin would not have to close their ATM. It is closed till date.

Operating an ATM without the banks permission is illegal in India. Although the founders did everything they can to use ther term "Kiosks" in their internal company documents, the Indian media used the term ATM everywhere. Due to this and the fact thay they didn't have a proper bank account to store fiat, they were forced to shut down.

[Red-Apple]

Someone tried and got arrested in India - https://qz.com/india/1435092/unocoins-bitcoin-atm-seized-by-indian-police/

What the media didn't cover was that the arrest was false. The government or the bank did not authorize it, but rather policemen acted on their own behalf. Once the matter was cleared, the founder was free to go.

If you were right, Unocoin would not have to close their ATM. It is closed till date.

Operating an ATM without the banks permission is illegal in India. Although the founders did everything they can to use ther term "Kiosks" in their internal company documents, the Indian media used the term ATM everywhere. Due to this and the fact thay they didn't have a proper bank account to store fiat, they were forced to shut down.

so it was NOT "policemen acting on their own behalf". they were arrested because they were indeed doing something illegal. and from what i understand they were only taking advantage of desperation for buying bitcoin that resides in India ever since their big exchanges were closed. and that's not cool...

[jtrapirap]

I came from a developing & third world country and Bitcoin has already been adopted here allowing its holders to pay their bills and buy loads. It has been quite convenient & hassle-free to us to use this instead of going to payment centers which is time-consuming. I also found some shops/stores that offers Bitcoin payment. I believe someday somehow Bitcoin adoption will be global as long as some of its major issues will be fixed.

[Akoldi_ibk]

Here in one of the developing countries, bitcoin ATM is far from what we need. Quite a number of people have heard about the word bitcoin but only few really understood its features and usage while many will consider it scam due to bad experiences people have had with online deals. I think education on bitcoin is what we need here for more adoption.

[Bitfling]

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

Bitcoin in many country prohibited and banned. Most government in the world not accept and regulate bitcoin. I think thats the reason why bitcoin ATM not in many country. In several advance country, government allowing bitcoin ATM and bitcoin transaction in merchant but mostly still ban bitcoin

[iMark]

as far as I know ATMs have higher fees and in short it would cost you more to buy from an ATM compared to buying using most other methods. that means ATM machines only have a certain client type, they are not exactly for increasing adoption. at least not yet.
the developing countries first need some regular places such as exchanges to buy bitcoin at then move to additional options for special purposes such as ATMs. otherwise it will be an unused option in my opinion.

How do you know? have you ever used it? ATM will help people convert bitcoin to fiat directly if they out of internet, of course it will help users even though it uses fees and bitcoin ATMs will certainly make a lot of people curious and help with adoption

[BTMBitcoinVN]

There are 4 bitcoin atm here in my country and I'll tell you why it isn't helping adoption-wise. The fees are too high when you use it it almost feel like a rip-off. This makes people think that bitcoin is just another scheme to take advantage of people's curiosity.

Which is why more should be launched. Some competition will help lower the fees.

[Siren]

Lot's of Bitcoin ATMs keep popping in the developed countries such as US, Canada, Japan, Hong Kong etc. But I have been thinking why don't the owner's target countries without much economic stability? Like Venezuela (btw they just got their first Bitcoin ATM). That would increase the adoption. Something like backpropagation. What do you think?

Lol bitcoin ATM has been spread in third world countries long time ago,in the Philippines there are two bitcoin machine thats been operational several years before now

The latest update is one big Banking company are going to put Bitcoin/Bank ATM machine in which we can use as bank atm and also bitcoin as well

Theres no black propaganda on Venezuela to have their own atm,instead that would spread the usage of cryptocurrency in that region and blockchain as well