One of the more convenient ways to buy digital currency is by locating a Bitcoin ATM in the area. Rather than completing online verification procedures and relying on bank transfers to clear before buying Bitcoins, these ATM’s will take fiat currency bills. Doing so allows the entire process to be completed much faster, while getting some hands-on experience with a Bitcoin ATM as well. Bern, the capital of Switzerland, now has its very own Bitcoin ATM.
One of the most popular ways of buying and selling Bitcoin in exchange for fiat currency comes in the form of a Bitcoin ATM. Similar to how a bank ATM operates, Bitcoin Teller machines can accept fiat currency bills or hand them out, depending on which type of action the consumer takes. But how is the Bitcoin ATM landscape looking today? Let’s find out!
Asia has always been a safe haven for Bitcoin traders, as many Chinese investors are speculating on the Bitcoin price to make a quick profit. Countries such as Japan are forming a regulatory framework for Bitcoin, now that the Mt.Gox debacle is coming to an end. However, one country that no one hears much from in terms of virtual currency is Korea, even though they have their very own Bitcoin Center and a calendar full of events.
Bitcoin and sports are a potent mix if applied correctly. In the past, there have been a few digital currency nuances related to sports, with the Bitcoin Bowl being the most noteworthy one. However, that turned out not to be a great success. Installing a Bitcoin ATM at a Mixed Martial Arts gym, on the other hand, might change things a bit.
One Kick Nick’s Mixed Martial Arts Gym
The place to be in Las Vegas is One Kick Nick’s MMA Gym, home of a Bitcoin ATM manufactured by General Bytes and operated by Bitcoin Direct, LLC. This one-way Bitcoin ATM will allow MMA students to purchase Bitcoin at their training gym, thus giving the disruptive digital currency more exposure.
Greece is the target of a ton of media attention these days. The country’s financial crisis is in full effect, with banks only allowing daily withdrawals of 50-60 EUR and offices remaining closed for over two weeks now. Many Bitcoin enthusiasts see this as the perfect opportunity to focus their attention on Greece, and that is what Bitchain has done as well.
Athen’s First Two-way Bitcoin ATM
Finding a working bank ATM in Greece is not a big problem, assuming you can get to one early enough. Even though most supermarkets and stores are still accepting bank card payments as well, Greeks want to get their funds out of the hands of banks as soon as possible. After all, if the Greek banks should go bankrupt, any remaining funds will be null and void.
Catalan-based Bitcoin company Bitchain recently installed two additional Bitcoin ATM’s in the city of Barcelona. What makes these machines so important, is that one of the ATM’s is installed in one of Barcelona’s major shopping centres, which is the first of its kind to be placed in such a high-profile location.
Bitchain – Bringing Bitcoin To The Masses At Convenient Locations
The mission of Bitchain is simple to explain: bringing digital currency to the masses at high-profile locations by using convenient methods. Rather than following the lead of companies offering over-the-counter purchases of Bitcoin, Bitchain sticks with the more traditional business model of deploying digital currency ATM’s in Spain.
Little over a month ago, Bitcoin ATM manufacturer Robocoin switched their business from deploying hardware to creating a more versatile software package to take on the remittance market. But it seems as if some companies are not seeing the benefits of that approach and have ditched Robocoin altogether in favor of the competition.
BitNational Dumps Robocoin
Just a few days ago, a shocking announcement was made by BitNational, a company known for their Bitcoin ATM operations. In fact, BitNational operates nine different Bitcoin teller machines across all of western Canada, and they have recently acquired Bitcoin Brains, a Canadian Bitcoin brokerage company.
The city of Chicago is notorious across the world. Not just for being lovingly called “The Windy City”, but also for its national sports teams, and, of course, it’s mafia and gang history. But it looks like Chicago will be the home of a new kind of “turf war”, which is going on between three different Bitcoin ATM manufacturers. Who will come out on top, and who will bite the dust?
Creating use cases for Bitcoin is not a very difficult task, but we could always use more ways to spend digital currency as an everyday consumer. And what better way to achieve that goal than by giving people more options to buy food and drinks with Bitcoin? Simon’s Hot Dogs in Sedona, Arizona is now accepting Bitcoin payments for their Colombian style Hot Dogs!
Bitcoin in Arizona Rather on the Low
With all of the debacle going on in the United States regarding Bitcoin regulation, one of the states you hardly ever hear being mentioned is Arizona. But that doesn’t mean there is no Bitcoin-related activity taking place in this state, as they do have a meetup group and a Bitcoin ATM located over there.
Partnerships between smaller and larger companies are a daily occurrence in the financial sector. Bitcoin, a disruptive digital currency, is no different in this regard. But, in this case, that is a very positive bit of news for Bitcoin enthusiasts residing in Canada. Bringing Bitcoin and digital currency to more people in a convenient way is always a win in our book.
Bitcoin Brains: Buy & Sell Bitcoin In Calgary
One of the companies involved in this story is Calgary-based Bitcoin Brains, a company focusing on bringing Bitcoin to everyday consumers. Not only is Bitcoin Brains an easy-to-use platform for buying and selling digital currency, but, they also educate novice users on Bitcoin, as well as offer a full line of Bitcoin and altcoin mining hardware.
More and more Bitcoin ATM’s are popping up all over the world and the global total is getting very close to the 400 mark. While that number may seem insignificant compared to the overall number of bank ATM’s in existence, keep in mind Bitcoin is only six years old. And, obtaining a location for a Bitcoin ATM is much harder compared to a bank ATM. But, Universitat Jaume I de Castelló now hosts their very first Lamassu Bitcoin ATM, courtesy of Chip Chap.
Indonesia is a country housing an emerging market largely focused on technology and IT. These factors make it an interesting and promising place for Bitcoin adoption. And, to make things even more interesting, Indonesia recently saw a second Lamassu Bitcoin ATM being installed on Bali, one of the Indonesian islands.
Two Bitcoin ATMs, Both From Lamassu
Most of our readers will be aware of the fact that Lamassu is the leading Bitcoin ATM manufacturer and provider in the world, to date. It should come as no surprise, then, when I tell you that both of Indonesia’s Bitcoin ATM’s are manufactured by Lamassu. But, that is not the only similarity to be drawn between both machines.
Bitcoin ATM manufacturers are finding themselves in a bit of an awkward position these days. With a few hundred BTM’s deployed all around the world, none of them seem to be bringing in enough revenue in order to create a sustainable business model for the operators. The manufacturers, themselves, have to adapt their business models as well, in that regard. Lamassu, the leading Bitcoin ATM manufacturer, plans to introduce monthly subscriptions in the near future.
Bitcoin ATM’s have been in a state of flux as of late, not because they are no longer popular or profitable, but simply because of unclear or impending regulations for the machine operators. As a result, less and less Bitcoin ATM’s are being sold on a monthly basis, and manufacturers have to start looking at alternative ways to earn revenue. Robocoin now lets you send money overseas, which is an interesting additional to Bitcoin ATM’s worldwide.
One of the questions that arise when it comes to Bitcoin is whether or not it can be used to launder money. According to mainstream media, Bitcoin is regularly associated with money laundering practices, pyramid schemes, and even terrorism. But can you actually use Bitcoin to launder cash by using a Bitcoin ATM?
The Short Answer: No
Let’s be brutally honest for a moment here: you can sue fiat currency to buy Bitcoin at any Bitcoin ATM, up to a certain limit. However, this limit is so low that it becomes unattractive to try even and launder cash through one of these ATM’s, as you will run into verification procedures sooner or later. And who wants to visit at least twenty or thirty ATM’s in rapid succession to launder less than US$20,000?
Our small country of Belgium was treated to a nice surprise a few days ago, when Outpost announced the installation of Bitcoin ATM’s in two of their locations. The stores in Antwerp and Ghent are now home to Bitcoin dispensers which will convert fiat currency into Bitcoin at your request.
Outpost Gamecenters – Gaming Galore
For those of you who are unfamiliar with the concept of an Outpost Gamecenter, let me explain. Over here in Belgium, we have three different Outpost Gamecenters, located in Brussels, Ghent and Antwerp. Most people would assume this is “just another comic book shop” but nothing could be further from the truth.
Europe is still lagging behind when it comes to Bitcoin adoption and awareness, but that doesn’t mean there is zero interest in digital currency. In fact, we see several new countries installing Bitcoin ATM’s for the very first time, such as Italy and Portugal. Despite the United Kingdom being known for very tight banking relationships when it comes to Bitcoin, several Bitcoin ATM’s are in operation there as well. And Wales just got their very first machine installed a few days ago.
Cardiff – Capital of Wales And Home of the Country’s First Bitcoin ATM
Bitcoin ATM’s are a dream come true, both for digital currency enthusiasts and people who want to own a machine themselves in order to make a nice monthly profit. However, investing in such a machine can be quite expensive. Robocoin, one of the top brands in the world of Bitcoin ATM manufacturing, has released their Cash SDK, which enables any ATM or kiosk to allow for Bitcoin transactions.
Cash SDK – The Next Evolution of Bitcoin ATM’s?
When it comes to Bitcoin adoption and awareness, Europe seems to be struggling a bit compared to other continents such as North America, Asia and even South America. But that doesn’t mean Bitcoin is not popular in our continent, the efforts just seem to be far more localized than we would like at this time. According to Alan Donohoe, one the founders of the Bitcoin Foundation of Ireland, that situation will change relatively soon.
Ireland & Bitcoin – A Brief History
Bitcoin ATM’s have proven their worth ever since the inception and installation of the first device of its kind. In fact, over the past year and a half, more and more manufacturers are throwing their hat in the ring in order to become a major player in the Bitcoin ATM space. Jiri Havlin of eDollar International is looking to get his Bitcoin ATM network funded with a more traditional crowdfunding campaign hosted by IndieGogo.
An ATM Network Supporting Bitcoin, DOLLAR and Local E-Currencies