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Author Topic: Hyosun America will enable Bitcoin purchases in over 175 ATMs across the United  (Read 127 times)
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July 19, 2022, 04:00:01 AM
 #1

Through its new partnership, Hyosun America will enable Bitcoin purchases in over 175 ATMs across the United States.

Hyosun America, the largest ATM manufacturer in the United States, has entered into a new partnership agreement with DigitalMint, Bitcoin's leading Proof-of-sale provider, to make Bitcoin available for purchase in more than 175 ATMs across the country.

“We’re looking forward to working with Hyosung America to make cryptocurrency services easily and safely accessible to their 175,000 deployed ATMs in the United States and beyond,” said, Don Wyper, chief operating officer of DigitalMint.

Continue Reading: https://mycryptoparadise.com/hyosun-america-to-enable-bitcoin-purchase-in-over-175-atms-in-america-through-its-new-partnership/
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July 19, 2022, 02:11:41 PM
 #2

Looks like a good pr boost for them.maybe since the first thing I can find about them is articles relating to them stating they'll introduce bitcoin (unless they don't need a high profile anyway)...

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July 19, 2022, 02:19:19 PM
 #3

That’s excellent choice by company like Hyosun America, which seems to company based for manufacturing their own ATM for banking sector.

I’m finding it clever they have also planned their platform for bitcoin based ATM.

Considering their views on the official site, company is gonna make change in the crypto verse for sure.

More here: https://global.hyosung-tns.com/be-inspired
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July 19, 2022, 02:36:09 PM
 #4

Let me ask you a simple question: Would these purchases be beneficial?
When you do know that, there are better rates provided on the exchange and do have knowledge about bitcoins and cryptocurrencies enough to actually get engaged in it then you should take a step back and look how beneficial this decision would be.
Thus for me if I do have a chance of going to an ATM and purchasing, i would rather decline and look for exchanges, maybe it would be easier for the people who are having an account in the bank but might not have so many positive points for others.

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July 19, 2022, 02:51:24 PM
 #5

Good news then. But I'm sure that those have been in the market and sees that the fees from bitcoin ATMs to be that high, will barely purchase from those ATMs.
Anyway, still a good news as these companies have been now open into bitcoin and integrating it into their businesses just like these ATMs which have been there though already.
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July 19, 2022, 02:59:11 PM
 #6

Yeah, the common problem is the high fees upon purchasing Bitcoin ATM machines and another one is it requires your personal data before you can purchase Bitcoin.  For now, there are 34398 Bitcoin ATMs in the USA, so I think it's beneficial for them and they know it will truly generate profit by having a huge fee.

This will really help to boost the Bitcoin price and at the same time it will increase the awareness of Bitcoin, there are already a large number of Bitcoin ATMs in the USA and I think there is too much competition out there regarding Bitcoin ATMs and it could be lowering the transaction fee would be one of the strategies might they will use.

It's good news indeed.

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July 19, 2022, 06:46:51 PM
 #7

Is it 175 ATMs or 175000? If it is 175000, this is a very large number. I do not think that the number of ATMs in my country reaches this number.
Generally, unless the technology of these devices is developed to run on the Lightning Network, so that the fees are closer to zero and the possibility of withdrawing funds directly, the expansion of the spread is not the ideal solution.

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July 19, 2022, 07:14:40 PM
 #8

This is a good thing as I'm sure they already have a money transmitter license.  I was shocked to learn that Celsius had been operating without a money transmitter license and I'm sure that most of the older Bitcoin ATMs were likely operated by people without the license as well.  Afterall, it is extremely expensive and not likely afforded by an individual (I tried several years ago).  It's this sort of moving towards compliance that is going to make sure Bitcoin sticks around a while and I'm glad to see big business embracing making it easier to purchase Bitcoin while most others are wanting to make it more difficult.

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July 19, 2022, 08:15:57 PM
 #9

Good news then. But I'm sure that those have been in the market and sees that the fees from bitcoin ATMs to be that high, will barely purchase from those ATMs.
Anyway, still a good news as these companies have been now open into bitcoin and integrating it into their businesses just like these ATMs which have been there though already.
Yes, still a big achievement for bitcoin as it could be a great move for bitcoin to become more popular to the people, and that they will start buying bitcoin eventually. But i guess there will be some transaction fees issues that could arise in the start, i just hope buying from atm machines will not be too much expensive compared in exchanges. But whatever it is, one thing is certain, bitcoin has gone a long way now and is now very accessible and convenient to the people.

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July 19, 2022, 08:36:53 PM
 #10

Yeah, the common problem is the high fees upon purchasing Bitcoin ATM machines and another one is it requires your personal data before you can purchase Bitcoin.  For now, there are 34398 Bitcoin ATMs in the USA, so I think it's beneficial for them and they know it will truly generate profit by having a huge fee.

This will really help to boost the Bitcoin price and at the same time it will increase the awareness of Bitcoin, there are already a large number of Bitcoin ATMs in the USA and I think there is too much competition out there regarding Bitcoin ATMs and it could be lowering the transaction fee would be one of the strategies might they will use.

It's good news indeed.
While bitcoin ATMs have been very huge in the United States, what we have here in the local countries are likely the opposite, maybe below 10 i guess. But anyways, this information is a very good news for all bitcoin enthusiasts as its giving us more chances to buy and sell a range of cryptocurrencies. Although it could be that its more expensive than just going in exchanges, but the convenience knowing the machine is already in front of you will always be effortless for us.




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July 19, 2022, 08:59:01 PM
 #11

Through its new partnership, Hyosun America will enable Bitcoin purchases in over 175 ATMs across the United States.

Hyosun America, the largest ATM manufacturer in the United States, has entered into a new partnership agreement with DigitalMint, Bitcoin's leading Proof-of-sale provider, to make Bitcoin available for purchase in more than 175 ATMs across the country.

“We’re looking forward to working with Hyosung America to make cryptocurrency services easily and safely accessible to their 175,000 deployed ATMs in the United States and beyond,” said, Don Wyper, chief operating officer of DigitalMint.

Continue Reading: https://mycryptoparadise.com/hyosun-america-to-enable-bitcoin-purchase-in-over-175-atms-in-america-through-its-new-partnership/
This will boost more on the existence of bitcoin. Aside from the popularity that bitcoin is going to gain, next to it is the expectation that there will be more people who will start patronizing and buying bitcoin, not only for investment alone, but also it can be hold too for future usage. I just hope that now that a lot of bitcoin atm machines have arise, hopefully there will also be a lot of big stores who will start accepting bitcoin as a payment method.

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Kasabus
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July 19, 2022, 09:35:10 PM
 #12

Good news then. But I'm sure that those have been in the market and sees that the fees from bitcoin ATMs to be that high, will barely purchase from those ATMs.
Anyway, still a good news as these companies have been now open into bitcoin and integrating it into their businesses just like these ATMs which have been there though already.
There will always be price issues along but this new venture for bitcoin will always bring more benefits for all bitcoin believers. Aside from gaining more bitcoin users, i guess a lot of people will come to understand that bitcoin is already here for good as big company won't take the risk putting up hundreds of ATMs if its not going to work actually. Eventually, this type of business will most likely to prosper as there are a lot of bitcoin users secretly doing transactions, and for sure there will be a lot more coming.




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July 20, 2022, 11:13:58 AM
Merited by ETFbitcoin (1)
 #13

Would these purchases be beneficial?
~Snipped~
Perhaps it wouldn't be that beneficial to users that already have verified accounts on exchanges, but for those who want to purchase a small amount while staying under the radar, it might come in handy.
- Most ATMs tend to "only" ask for a valid number if they're dealing with small amounts and that's where throwaway/temporary SIM cards come into play.

Is it 175 ATMs or 175000? If it is 175000, this is a very large number.
It's the latter, but it's worth noting that it's not going to be integrated into all of their 175K ATMs automatically:


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July 20, 2022, 03:23:59 PM
 #14

Let me ask you a simple question: Would these purchases be beneficial?
When you do know that, there are better rates provided on the exchange and do have knowledge about bitcoins and cryptocurrencies enough to actually get engaged in it then you should take a step back and look how beneficial this decision would be.

This is a bit different.

We're not talking about a company installing a bitcoin ATM and just trying to survive from milking the few curious passersby, this is an integration in a normal ATM.
So if a large ATM operator or even a bank will allow the app provided by DigitalMint you could buy BTC from that atm without any furth modifications, just how some ATMs allow you to pay your bills or traffic tickets or even taxes, so there won't be any extra manufacturing costs, no extra rent or maintenance so both the owner and DigitalMint could charge way less than the 5-7% average and still make the same amount.

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July 20, 2022, 05:42:23 PM
 #15

Good news then. But I'm sure that those have been in the market and sees that the fees from bitcoin ATMs to be that high, will barely purchase from those ATMs.
Anyway, still a good news as these companies have been now open into bitcoin and integrating it into their businesses just like these ATMs which have been there though already.
Yes, still a big achievement for bitcoin as it could be a great move for bitcoin to become more popular to the people, and that they will start buying bitcoin eventually. But i guess there will be some transaction fees issues that could arise in the start, i just hope buying from atm machines will not be too much expensive compared in exchanges. But whatever it is, one thing is certain, bitcoin has gone a long way now and is now very accessible and convenient to the people.
It will give an idea to those skeptics that bitcoin can be bought through the ATM where they're headed. That's why those skeptical ideas that they've got about bitcoin will eventually be gone. As they see the application of it and it's prospering from the moment they've seen that Hyosun America is enabling anyone to buy it with several ATMs in the US.
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July 21, 2022, 07:30:12 AM
 #16

Always glad to hear about this kind of news
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