Uruguay installs its first Bitcoin ATM

[wtsimis]

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and  FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

Source: https://cointelegraph.com/news/uruguay-reportedly-installs-its-first-bitcoin-atm

[Rruchi man]

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and  FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

Great news, another big win for the crypto community indeed. A major concern for me is that scammers may take advantage and focus attention on the new and naive crypto community that will spring up in Uruguay. I mean with the installation of these ATM's, some can easily be swindled into depositing cash and transferring to unknown address.

[Welsh]

I've never really looked into the ATMs in enough depth, but when withdrawing Bitcoin i.e putting in cash, and wanting to receive Bitcoin. How does it handle address generation or are you required to input the address yourself, which just sounds a little risky due to the complexity of Bitcoin addresses.

Great news, another big win for the crypto community indeed. A major concern for me is that scammers may take advantage and focus attention on the new and naive crypto community that will spring up in Uruguay. I mean with the installation of these ATM's, some can easily be swindled into depositing cash and transferring to unknown address.

I'm not sure how that would happen specifically concerning ATM usage. However, people getting scammed using cryptocurrency is only probably slightly more probable than that with fiat, that's simply because its a little more confusing, and is a relatively new technology to most people. This should get better with increased adoption, which things like ATMs will encourage.

[hyudien]

I've never really looked into the ATMs in enough depth, but when withdrawing Bitcoin i.e putting in cash, and wanting to receive Bitcoin. How does it handle address generation or are you required to input the address yourself, which just sounds a little risky due to the complexity of Bitcoin addresses.

Great news, another big win for the crypto community indeed. A major concern for me is that scammers may take advantage and focus attention on the new and naive crypto community that will spring up in Uruguay. I mean with the installation of these ATM's, some can easily be swindled into depositing cash and transferring to unknown address.

I'm not sure how that would happen specifically concerning ATM usage. However, people getting scammed using cryptocurrency is only probably slightly more probable than that with fiat, that's simply because its a little more confusing, and is a relatively new technology to most people. This should get better with increased adoption, which things like ATMs will encourage.

That's what makes us a little hampered about how to implement deposits at ATM with paper money and then enter the bitcoin address to be converted into a personal wallet. It would be very useful if there is someone who can show how the process goes until the bitcoins arrive in his wallet. Maybe some kind of scanned barcode. Because after all, this will certainly be a little different when we withdraw or deposit money into a bank account via an ATM.
Despite all that, I am very happy when this adoption was made so that the people of Uruguay, especially those in the area around the city of Punta del Este, make crypto users more friendly with crypto transactions outside of exchanges that use a fairly new alternative.

[famososMuertos]

Well, in reality, ATMs have a very strong impact on the sector where they are located, so to call it promoting at the state or country level is really exaggerated, in fact there are many ATMs in various parts of the world that have not been registered and what they are looking for is to capture users and the adoption is worth "eggs".

It is not that it is being negative, but come on, the news is what it is, it excites the bitcoin niche and adds to its corresponding measure.

I don't know where your source is from, but at least coinatmradar doesn't record anything in Uruguay. Zero, at least it's not registered yet.

In South America these are the data:
Colombia: 38
Brazil: 22
Argentina: 11
Chile: 3
Peru: 3
Venezuela: 1
Ecuador: 1
Uruguay: 0 (*)
Bolivia: 0
Paraguay: 0
Source:https://coinatmradar.com/countries/
(*) OP, 1.

[boyptc]

Good news and position if it's a tourist spot.

There will be tourist that would try to withdraw their crypto and exchange it with fiat there when there are no other ATMs that they can use. Or at least, they want to spend it for their vacation and trip.

I think the strategy of placing it there is good and hopefully that the fee would be lesser than the usual ATM that charges 3% and up for some of those that I've seen.

[BIT-BENDER]

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and  FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

I am always happy to see the developments and before any crypto-currency ATM can be installed in any. Country that means the government is in support of it, so am glad the government are slowing accepting Bitcoin, I would hope to see this type of development in my country, but my government is still stiff necked in that regards.

[Vaskiy]

Country with 3.5 million population having its first Bitcoin ATM is good. It is a country that is much spoken for its low corruption, increased export business and e-governance. Maybe this could be an initial step for them to get into bitcoin adoption. In particular it is surprising to see both the companies that installed the ATM were 100% funded by the government

Uruguay reportedly installs its first Bitcoin ATM

[Slow death]

according to the OP these two companies responsible for the ATM are government companies which makes the ATM government, that means that the private sector is not interested in this business of bitcoin ATM, anyway I would like to know what is the demand that has had the bitcoin ATM that has been installed. I don't usually hear that uruguay buys a lot of bitcoins, in fact I never heard

[Tellek Garing]

e-governance.
Uruguay reportedly installs its first Bitcoin ATM

E-governance is not too familiar with this term and will like you to please share more light on how e-governance works and what country is practicing this type of government around the world, I know Bitcoin ATM is a good development that will make Bitcoin more accessible to it end-users with the help of pos and ATMs.

[SFR10]

By the look of things, the main motivation or rather goal behind that particular automated teller machine is nothing but a way to promote their own cryptocurrency ^{[basically, they're using BTCitcoin's name to their advantage]}!

I've never really looked into the ATMs in enough depth, but when withdrawing Bitcoin i.e putting in cash, and wanting to receive Bitcoin. How does it handle address generation or are you required to input the address yourself, which just sounds a little risky due to the complexity of Bitcoin addresses.

Depending on the model of the BTM, you might have different options:

• Manually enter your address
• Scan a QR code
• Use a generated paper wallet by the BTM

[Desmong]

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and  FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

This is impressive and I'm very surprised the way some countries are adopting cryptocurrency make the Crypto market to keep increasing drastically in size and market cap. I am still expecting more countries like the Asians and Africans to follow the adoption to make the world a better place where digital currencies would be the order of the day. 

[24Kt]

according to the OP these two companies responsible for the ATM are government companies which makes the ATM government, that means that the private sector is not interested in this business of bitcoin ATM, anyway I would like to know what is the demand that has had the bitcoin ATM that has been installed. I don't usually hear that uruguay buys a lot of bitcoins, in fact I never heard

At this early stage, I don't think we will hear from them how they are performing in terms of attracting crypto users in their country. Usually, it will take time before they will see good number of adoption. But if the machine is already there, for sure, people will get curious and try the machine how it works. They have their own coin also, so they may try to see how those will work for them as it is government-backed projects. Their government should promote or incentivize their people using their coin or at least something to promote this initiative.

[sheenshane]

e-governance.
Uruguay reportedly installs its first Bitcoin ATM

E-governance is not too familiar with this term and will like you to please share more light on how e-governance works and what country is practicing this type of government around the world, I know Bitcoin ATM is a good development that will make Bitcoin more accessible to it end-users with the help of pos and ATMs.

It's good news on Bitcoin and the community that the adoption becomes widely operated through these ATM machines.
We hope that all countries are the same open-minded when it comes to cryptocurrency or adopting Bitcoin which e-governance will benefit more from embracing this new technology.

Coinatmradar shows a rapidly increasing number of Bitcoin ATM machines worldwide and it seems a good sign that Bitcoin has the potential to become more expensive after for how many years and it could be the price of $100k is possible to achieve which the most anticipated moment for most holders.

[aoluain]

Good news and position if it's a tourist spot.

There will be tourist that would try to withdraw their crypto and exchange it with fiat there when there are no other ATMs that they can use. Or at least, they want to spend it for their vacation and trip.

I think the strategy of placing it there is good and hopefully that the fee would be lesser than the usual ATM that charges 3% and up for some of those that I've seen.

Location, location, location, the same as property the position is key. I ever
I come across a Bitcoin ATM I would definitely use it just for the experience,
I'm sure there will be people who will use this especially as it's in a prominent place.

In the grand scheme of things 1 ATM is very small but its all plus regardless of
quantity or size

[coupable]

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and  FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

Great news. And the greatest parts are that the whole project is funded by the government of Uruguay and that those ATMs can be used with different cryptocurrencies even i am not that enthusiast with altcoins.
To be honest, i wasn't expect Uruguay to make this giant step. However, i wish it not to be a political move for popularism so i will be waiting for reactions from major economic influencers in/out of Uruguay. Till now, it's not clear why the Uruguay government took this decision and if it really has the needed infrastructure for such a big development. 

[nullama]

If anyone is actually interested in going to this ATM, it's located inside a store called Smart Point, at Juan Gorlero 29, 20100 Punta del Este, Departamento de Maldonado, Uruguay.

Lat/Long: -34.9593864, -54.9409259

[yazher]

Great news. And the greatest parts are that the whole project is funded by the government of Uruguay and that those ATMs can be used with different cryptocurrencies even i am not that enthusiast with altcoins.

That makes it great and we know if the government involve, they will do anything they could to promote it in a positive way so that lots of people will gonna use it. They can easily partner with private companies to boost their funds to further expand their investment and that would be great for both Uruguay and the crypto industry. The time when almost all of the countries are hostile about bitcoins is finally over and the we are seeing right now is the beginning of it's new era where everyone will become use to it and it will mainly start in the South American countries.

[Fundamentals Of]

This is another good news regarding Bitcoin adoption. But I am wondering why there have to be FRT and URUB? I am curious to know the objectives of these government-funded and controlled altcoins. Do they have to exist? If there was an intention to support the ideas behind Bitcoin, then there was no reason whatsoever to create alternative coins which are under companies that are not only funded by the government but also controlled by it.

[cabron]

Well, in reality, ATMs have a very strong impact on the sector where they are located, so to call it promoting at the state or country level is really exaggerated, in fact there are many ATMs in various parts of the world that have not been registered and what they are looking for is to capture users and the adoption is worth "eggs".

It is not that it is being negative, but come on, the news is what it is, it excites the bitcoin niche and adds to its corresponding measure.

I don't know where your source is from, but at least coinatmradar doesn't record anything in Uruguay. Zero, at least it's not registered yet.

In South America these are the data:
Colombia: 38
Brazil: 22
Argentina: 11
Chile: 3
Peru: 3
Venezuela: 1
Ecuador: 1
Uruguay: 0 (*)
Bolivia: 0
Paraguay: 0
Source:https://coinatmradar.com/countries/
(*) OP, 1.

El Salvador has 205. Columbia and Brazil have a ton but we don't hear them so much on the news about the adoption in the country. Only just recently did we hear of a City Del Rio's Mayor buying BTC out of the City's fund.

This is another good news regarding Bitcoin adoption. But I am wondering why there have to be FRT and URUB? I am curious to know the objectives of these government-funded and controlled altcoins. Do they have to exist? If there was an intention to support the ideas behind Bitcoin, then there was no reason whatsoever to create alternative coins which are under companies that are not only funded by the government but also controlled by it.

Like the existence of altcoins, controlled altcoins exist to grab the BTC of the users who buy altcoins. They claim to have a specific purpose though and some prefer to buy those altcoins, some of these altcoins are even available in the ATMs like doge.