Bitcoin ATMs should target developing and third world countries

[Artemis3]

Bitcoin automatic teller machine is quite an advance technology and it's being developed on.
For now I don't think developing countries are ready to adopt that technology

Actually not really, in my opinion the typical Diebold type ATM, a model with camera, would do just fine (they are just PCs). They are expensive because of the vault that needs to be rugged, and the mechanism that push/pulls/sorts banknotes. But i wouldn't dare recommend putting one in the street, especially in third world countries with rampant crime...

I guess some people are building them from scratch, which is probably cheaper than getting a typical bank ATM. Perhaps something raspberry pi like...

[martina14]

Bitcoin ATM will reach the whole world like what ATM for fiat happened before.
All i want to say is there are no more 3rd world country for many years now.
We are divided as DEVELOPED and DEVELOPING country. ever country will have their ATM in such time!

[n0ne]

In third world countries people haven't got adopted to the usage of bitcoin atm. Though Japan is a cryptocurrency adopted nation, what we find is very small number of bitcoin ATMs. Recently the very first ATM got implemented in India which has got a large number of cryptocurrency users, but in the day of opening it was taken away by the government. In this regard it needs time for for people to know and begin using bitcoin ATMs.

[stompix]

All i want to say is there are no more 3rd world country for many years now.
We are divided as DEVELOPED and DEVELOPING country. ever country will have their ATM in such time!

And which of those two is Venezuela?
You should really add a new category, going the wrong way, and even that doesn't show the full picture, or if we speak about Chad, maybe better would be "stagnating" cause it's developing for the last 30 years....into the same.
But again, maybe the term 3rd world country might be inappropriate, how about 4th world countries?

I think you underestimate the level of competence you'll find among the youth in these countries.
The use of BTMs here can have quite a significance, considering these individuals have high technological understanding.
Sure it won't have the same impact as in north america, but i'm sure there's a market for BTMs.

I think you're overestimating it by a factor of a few thousand.
If we had anything like that we would see a change in those countries but for years and years nothing happens and the ones with a bit of "competence" decide to run wherever their eyes see rather than fighting for a failed cause.

[conected]

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?

There are now many bitcoin ATM's that keep popping up in my country. Actually even the popular bank in the Philippines is now launching a bitcoin atm. The demand of the people to bitcoin is now increasing and that's why bitcoin atm is continuing to pop up.

The implementation of Bitcoin ATM in your countries with many users will certainly have a positive impact on the existence of this ATM. Of course it's good to develop or promote the Bitcoin currency in that country.

- Well, the appearance of ATM bitcoin is really a good tool to advertise bitcoin and make it more friendly and accepted by people in that country, and the characters who will be the most profitable are the government, they provide and support bitcoin to become popular, what they get will be taxes from bitcoin holders. And we will share part of our benefits with the government and there is no guarantee from them, we will even face new opponents in many crypto fields, the appearance of bitcoin ATM is a disadvantage for the pioneers, so I don't hope that ATM bitcoin will appear in my country

[Daniel91]

I think that Bitcoin ATMs should specially target tourist countries and places around the world.
Tourists don't like exchange offices because of high exchange fees so Bitcoin ATMs can be very convenient for them.
For example, many tourists visiting my city and they are happy when they hear abut 2 Bitcoin ATMs we already have in our city.

[eaLiTy]

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 . That would increase the adoption. Something like backpropagation. What do you think?

The main reason is that every bitcoin ATM has a lot of charges they levy to the users and if they are planning to install in a developing country which is basically poor population, it wont be a success like they are successful in developed countries and more over these developing countries does not have a regulation relating to bitcoin as someone mentioned earlier, an exchange in India installed an ATM and they got arrested for it, so if there is no legal status you might end up in trouble too.

[ecnalubma]

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?

It could be an ideal but not all countries may allow it, it depends on how their government treat crypto because before you operate that kind of business you should pass tons of qualifications and filter to get approved. Some are conservative that are contented with the current financial system which are hard to please.

[romero121]

Right now it is very difficult to make countries accept the usage of bitcoin atm. Very few people have known about bitcoin, while majority still doesn't use cards. In this regard it is impossible to make everyone use cryptocurrency atm. Third world country have lot many issues to face, upon which this will a very minor thing which won't get importance that easy. When this becomes popular on first world countries automatically it'll reach the third world countries with ease.

[Bonsaiav]

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?

The presence of bitcoin ATMs in various countries of course will really be helpful, and this will facilitate transactions which are related to bitcoin both as a medium of payment, transfer and others. Besides that, the growth of people who adopt bitcoin will usually occur, especially in the surrounding environment where the ATM's located. However before they place the bitcoin ATM, they should think wisely, especially regarding laws or restrictions that apply in the local country, the location where the bitcoin ATM will be placed. This's done solely to provide security for both the user and the owner of the ATM so that unwanted things don't happen, as 100bitcoin said.

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

Because until now most of the government still insisted on maintaining their ego to ban bitcoin and other cryptos.

[Ultimist]

In order for bitcoin ATMS to appear in some country, it is necessary to determine what percentage of people use cryptocurrency. In the third world, the technology is not very developed and the establishment of bitcoin ATMS will be impractical.

[Oasisman]

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?

It could be an ideal but not all countries may allow it, it depends on how their government treat crypto because before you operate that kind of business you should pass tons of qualifications and filter to get approved. Some are conservative that are contented with the current financial system which are hard to please.

Of course the government should be the first to check whether there is restrictions for cryptocurrency or not. Now, the hardest part is the adaption of people in a certain country especially the third world countries. Companies who build Bitcoin ATMs might have a survey on their targeted location for the next machine deployment, and I guess it will be the mass adaption is the first thing to be tackled.

[Iamannie]

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?

It could be an ideal but not all countries may allow it, it depends on how their government treat crypto because before you operate that kind of business you should pass tons of qualifications and filter to get approved. Some are conservative that are contented with the current financial system which are hard to please.

Of course the government should be the first to check whether there is restrictions for cryptocurrency or not. Now, the hardest part is the adaption of people in a certain country especially the third world countries. Companies who build Bitcoin ATMs might have a survey on their targeted location for the next machine deployment, and I guess it will be the mass adaption is the first thing to be tackled.

They could start in Central Business Districts, wait for users to come in before spreading out in the outskirts.

[creeps]

Bitcoin ATM will reach the whole world like what ATM for fiat happened before.
All i want to say is there are no more 3rd world country for many years now.
We are divided as DEVELOPED and DEVELOPING country. ever country will have their ATM in such time!

That's right, I'm living in a developing country and I can say we already have Bitcoin ATM machine though its still not that popular but I know there will be more development like this. Yes, in time many countries will support cryptocurrency and many project will have their own ATM's machine to give convenience to the investors and newbies, it will happen no matter what.

[Iamannie]

Bitcoin ATM will reach the whole world like what ATM for fiat happened before.
All i want to say is there are no more 3rd world country for many years now.
We are divided as DEVELOPED and DEVELOPING country. ever country will have their ATM in such time!

That's right, I'm living in a developing country and I can say we already have Bitcoin ATM machine though its still not that popular but I know there will be more development like this. Yes, in time many countries will support cryptocurrency and many project will have their own ATM's machine to give convenience to the investors and newbies, it will happen no matter what.

But it will be monopolized at first meaning high charges will be taken advantage of which the pubic might shun away from but later on as competitors creep up which will lower the service or transaction fees of using the Bitcoin ATM.

[Vishnu.Reang]

Here in India, a private crypto firm had installed a few Bitcoin ATMS in the city of Bangalore (South India). But only after a few days, these ATMs were confiscated by the authorities and the people who were behind the installation were charged with criminal charges. This was really confusing, because Bitcoin is currently not banned in India (although the politicians have plans for doing that) and no law or regulation states that it is illegal to own or operate a Bitcoin ATM within the national borders.

[Ryan Dugan]

In order for bitcoin ATMS to appear in some country, it is necessary to determine what percentage of people use cryptocurrency. In the third world, the technology is not very developed and the establishment of bitcoin ATMS will be impractical.

No but if the government or a company embrace the technology they can use it or maybe create their own cryptocurrency with their own ATM machines.

Here in India, a private crypto firm had installed a few Bitcoin ATMS in the city of Bangalore (South India). But only after a few days, these ATMs were confiscated by the authorities and the people who were behind the installation were charged with criminal charges. This was really confusing, because Bitcoin is currently not banned in India (although the politicians have plans for doing that) and no law or regulation states that it is illegal to own or operate a Bitcoin ATM within the national borders.

India sounds like a horrible place to live... -_- So they just take what is not theirs and steal it? The ATM is full of money and they just take it. Wow. Criminal charges such as? I can't see them being charged with anything.
What have they done? Nothing.

[Leonardo7]

I think there has to be some sort of understanding with the financial institution in the country so as the fellow pioneering it doesn't get into trouble with the jealous financial regulators. It can be deported to libra developing nations and third world nations.

[lepbagong]

In order for bitcoin ATMS to appear in some country, it is necessary to determine what percentage of people use cryptocurrency. In the third world, the technology is not very developed and the establishment of bitcoin ATMS will be impractical.

Apart from perhaps being impractical with this provision, it is also important to know that for developing countries there is still a major problem, namely approval from crypto itself. because there are still many who have not acknowledged and stated that they can accept crypto. perhaps the main thing is a more comprehensive introduction to developing countries.

[smyslov]

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?

here in our country we only had two Bitcoin ATM, we are very open to cryptocurrency we have an online exchange, but unfortunately, only two Atm that are both located in one metropolis, ABitcoin Atm operator in our country should target another city, we have a silent majority of Bitcoin users that will support this.