Union Bank of the Philippines Launching Cryptocurrency ATM

[teejayrichard2]

this is so so good to hear. Indeed bitcoin is moving to places even at a greater pace than we thought initially. if Philippines can come up with this am positive other countries will hoin them soon enough. Bitcoin is just getting started, more to come soon

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[meanwords]

That is actually good news because the bank itself that many people refer to as "against crypto" is the one who is promoting it. You can see how they will adapt and use every means to maximize the potential of cryptocurrency. But I think it's going to be Bitcoin only.

[PlusOne88]

This is a good idea for Philippines. It is an eye opener and for those who haven't been into cryptocurrency. Philippines is a very small country but people are so open-minded to ideas and technologies which could be beneficial to  the whole country. I would agree to most of the comments that are positive as this could be opening new door ways to the use of cryptocurrency which others might have taken for granted. Philippines is small as it is but bigger in its ideas to engage more on the use of this technologies. Good work Union Bank!

[Blockfolioz]

Though Philippines is a small country, it has got large number of cryptocurrency users. Union Bank clearly understands the need of the people and this has made them come up with the solution of launching cryptocurrency ATM which at present is not available even in grown countries.

[Becky666]

Recent happening around the cryptocurrency has been good news and we wish this to continue which could lead to the adoption and acceptance of the technology. Philippines launching cryptocurrency ATM is a welcome development which act as an eye opener to other countries to follow.
     

[susuberuang]

Recent happening around the cryptocurrency has been good news and we wish this to continue which could lead to the adoption and acceptance of the technology. Philippines launching cryptocurrency ATM is a welcome development which act as an eye opener to other countries to follow.
     

yes you are right now there is a lot of good news popping up, even in 2020 there will be better news and will make the price of bitcoin back to be even more expensive than the previous price of just under $ 4k so this can recover again on it.

[chaintee8989]

This is a little step and a brave decision to install ATMs by Union Bank. I believe it will spread the name of Bitcoin and cryptocurrency in Phillipines. They should make regulation for crypto exchanges, to obtain a registration certificate to operate as a remmitance.

[rachellee]

This is great news, not only for the Filipinos but also for other developing nations. This might kindle the fire for other third world countries to embrace and adopt crypto also. And we all know for a fact that the more nations are adopting the bitcoin concept, the higher is the probability for crypto to be be legally accepted.

[sapnu]

I think this is mainly for promotion of their bank -- they are probably trying to appeal to the younger generations and give themselves a reason to stand out among other banks. More power to them. I won't click on the link because I boycott bitcoin.com but I wonder is it available to everybody for use or only registered account holders? I also praise the government of the Philippines for maintaining a rather "hands off" approach when it comes to crypto regulations.

True, though I know that a lot of Filipino miners and traders utilize Unionbank's services for their needs, alongside BDO and BPI (which are the biggest banks here.) The Philippines is a country ripe for the picking for cryptocurrency investments and startups, as the country is somewhat friendly towards such ventures knowing that it could potentially drive profit and boost employment should someone decide to open up a firm here. Anyway, I don't think bitcoin ATMs are that relevant for the Filipino community, but it's a good way of telling and reminding people that at the least, the scene is somewhat ramping up its game.

This was actually a good news for everyone especially holders of cryptocurrency in the philippines. I think this is for better transaction making easy payment and savings for our bitcoins. Due to this news, i think cryptocurrency will be more famous in the philippines as the government recognized it.

[Oasisman]

I have heard before that there were handful of Bitcoin ATM particularly in Manila right??  Now, if Im not mistaken, those machines is owned by international private companies deployed in the Philippines (I dont know much about it since it didnt catch my attention because my location is way too far from the business capital in PH)
Anyway, this is gonna be great if Union Bank will deploy atleast one Bitcoin ATM in all region.

[tunapa]

This is really going to be great and it will be a major boost for crypto atmosphere especially for the fact that it’s coking from a bank. Another special feature is that it will be a two way atm which I think will Ben able to run both transactions for fiat and bitcoin. This is indeed awesome and I hope more of this happens even in other locations.

[kumar jabodah]

This is a great success for us, Because the virtual currency will rise faster and many people will have the interest to try to use it. Hopefully, other banks will also take steps to accept the crypto currency because it will greatly contribute to the betterment of the economy and all transactions will be fast.

[Bonsaiav]

Union Bank of the Philippines Launching Cryptocurrency ATM

With the launch of crypto ATM in the Philippines, of course this thing will real benefit all crypto users in the country, what else's launching the crypto ATM is one of the largest banks in the Philippines.  I hope the existence of crypto ATMs in the Philippines can last a long time, so the growth of people who adopt crypto can reach the target as many people expect especially cryptocurrency users as a whole.

[Siren]

Cryptocurrency ATM is a must when more and more users get into the network. Philippines being one of the country in the Asian continent having lots of cryptocurrency users coming with a plan to launch its own cryptocurrency ATM is truly appreciable. The same being done by one of the leading banking service provider Union Bank will let reach common people with ease.

Actually theres already an Bitcoin ATM in Makati and Baguio mate but this one is better because this may offer many cryptocurrency than just a bitcoin so i am looking forward about this,though Coins.Ph also offered 5 of the too cryptocurrency so far yet ATM will be more appealing than just a Local Wallet an offer

This is a great success for us, Because the virtual currency will rise faster and many people will have the interest to try to use it. Hopefully, other banks will also take steps to accept the crypto currency because it will greatly contribute to the betterment of the economy and all transactions will be fast.

Before we wish other banks to have same as this,better we spread first the cryptocurrency to the whole nation,because we need another supporters aside from as all,crypto must be spread and adopted by many

[kingpin4321]

Still in confusion here about cryptocurrency automatic teller machine.
I know bitcoin is not a legal tender so what does the ATM dispense or is it only for online purchasing and uses?

[NavI_027]

Still in confusion here about cryptocurrency automatic teller machine.
I know bitcoin is not a legal tender so what does the ATM dispense or is it only for online purchasing and uses?

It ie "automated" not "automatic". Nevermind, it was just a simple mistake wnd besides it has the same implications somehow .

This btc ATM let's you to buy and sell crypto with the exchange of fiat. In simple words, you are just like doing a btc withdrawal in Cebuana Lhuiller or cash in to through 7 Eleven. The different thing is you are only facing a machine, nothing more nothing less — no clerks at all.

[peter0425]

Still in confusion here about cryptocurrency automatic teller machine.
I know bitcoin is not a legal tender so what does the ATM dispense or is it only for online purchasing and uses?

It ie "automated" not "automatic". Nevermind, it was just a simple mistake wnd besides it has the same implications somehow .

This btc ATM let's you to buy and sell crypto with the exchange of fiat. In simple words, you are just like doing a btc withdrawal in Cebuana Lhuiller or cash in to through 7 Eleven. The different thing is you are only facing a machine, nothing more nothing less — no clerks at all.

And you also forgot to mentioned one factor as well, how much will be the fees? Cebuana or 7-11 or LBC charges depending on the amount your going to buy/sell and I'm guessing that those ATM's will charge way more bigger transaction fee's and there is where the business of the UnionBank comes in (making more money).

[saffira]

That is a good news for me. Although ATM is not really a big deal for me because in our province we have a few banks. However, this launching of Union bank is a big step and only shows that Filipinos are starting to accept the crypto. Through this, many people will learn crypto and soon other banKs will start to launch their ATM.

[Danica22]

I usually think that new bitcoin ATMs aren't that relevant(though any publicity is good publicity I guess), but knowing that a bank itself is releasing a bitcoin ATM? That's quite a big deal in my opinion.

Maybe they see what is capable of Bitcoin. Better to adopt or they will be left behind because we know that the changes are so fast when it comes to technology. It is an excellent move of Unionbank to take leap in the world of cryptocurreny.

[dimox]

its good when you have fiat than take bitcoin from that atm with fiat. so, its like auto convert with low cost, and vice verza. i think, it will useful and helpful for bitcoin user, moreover you can convert in any coin. sooner or later, people will adobt this method, and crypto will accept in real life