Union Bank of the Philippines Launching Cryptocurrency ATM - page 2.

xvids

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Quote from: Vishnu.Reang on April 12, 2019, 08:18:45 AM

Just checked the status of Bitcoin in Philippines on Bitlegal, and everything looks good. The Philippines is one of the few countries in the Southeast Asian region, where status is given as "permissive". That said, I don't know why people use Bitcoin ATMs now. The markup is way too high, and it is always better to use online crypto-currency exchanges.

Yup I also think that it is the best for now since the fee in trading sites are much more lower if you would send it to your bank account ,
But the only problem is the time I read that it would take some days before it would reflect to your bank account unlike if you would use our local wallet it only takes 1 working day and I think if we use crypto currency ATM it would be instant.

Vishnu.Reang

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Just checked the status of Bitcoin in Philippines on Bitlegal, and everything looks good. The Philippines is one of the few countries in the Southeast Asian region, where status is given as "permissive". That said, I don't know why people use Bitcoin ATMs now. The markup is way too high, and it is always better to use online crypto-currency exchanges.

pushups44

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This is an exciting time for bitcoin, the Philippines, and the developing world, because so many people are unbanked in these countries. As soon as scaling solutions are fully developed for bitcoin, the sky's the limit. No longer will people be so dependent on banks that dismiss them as unworthy.

Micerker

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The Philippines is the first country in Asia to accept Cryptocurrency, and in this country, you can travel and use Crypto to pay the costs. I like the Philippines because this is the earliest and fastest growing country in Cryptocurrency.

MiguelCryptoss

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Quote from: Denton on February 12, 2019, 03:57:37 PM

Such ATMs will be used by a small number of people, but it is still very good that they appear. At first it will not be very relevant, but in the future I think that such ATMs will be almost everywhere.

As a growing technology the ATM will be relevant in due time, because the technology is on the developing phase. The good people of Philippines are lovers of Bitcoin and they choose to embrace the new trend in the digital world. Hope to see more of these positive news from over around the world, even including my own country.

sheenshane

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Quote from: harizen on April 12, 2019, 03:58:58 AM

Quote from: nydiacaskey01 on April 11, 2019, 05:33:07 PM

... but actually the Central bank of the Philippines have a standing memorandum circular about Bitcoin and other Crytocurrencies to be careful and using it and does not endorse use such Virtual Currency and such memorandum circular turns off potential investors or users.

I don't see how it's going be a thing to be worried. It's usual that BSP will issued a memorandum. They already issued some notices to the public about the used of crypto even prior to the so-called "Crypto's Big Year" last 2017. They didn't prohibited using it but instead gave some knowledge to the public about the risks of putting money on crypto.

I remember this here "Philippines’ Bangko Sentral Recognizes Bitcoin as Payment System" and that has happened way back on February 8, 2017. Luckily, that was the great step made by the government here and now it continues growing people who adopted on Bitcoin in the Philippines and I hope other countries too across the whole world. Through blockchain technology on that bitcoin, now it has some Banks here starting to collaborate in Bitcoin and other altcoins on how it works in general.

Jating

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Quote from: nydiacaskey01 on April 11, 2019, 05:33:07 PM

Quote from: teejayrichard2 on April 11, 2019, 02:18:54 PM

The Philippines are indeed doing all the can in the adoption of blockchain technology and use of bitcoin. Launching cryptocurrency ATM in Philippines will indeed spread the use of cryptocurrency in the country. I do hope other countries across the globe will take the bold step Philippines is taking in the adoption of cryptocurrency.

The news sounds very good to the ears but actually the Central bank of the Philippines have a standing memorandum circular about Bitcoin and other Crytocurrencies to be careful and using it and does not endorse use such Virtual Currency and such memorandum circular turns off potential investors or users.

They are just giving us a heads-up about virtual currency and I don't see any negative things about it. It is still up to the investors if they are willing to take the risk of putting their hard earn money on bitcoin.

That's why Philippines is slowly getting into the picture as far as crypto sphere, because the government is really supportive of it.

harizen

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Quote from: nydiacaskey01 on April 11, 2019, 05:33:07 PM

... but actually the Central bank of the Philippines have a standing memorandum circular about Bitcoin and other Crytocurrencies to be careful and using it and does not endorse use such Virtual Currency and such memorandum circular turns off potential investors or users.

I don't see how it's going be a thing to be worried. It's usual that BSP will issued a memorandum. They already issued some notices to the public about the used of crypto even prior to the so-called "Crypto's Big Year" last 2017. They didn't prohibited using it but instead gave some knowledge to the public about the risks of putting money on crypto.

I read there terms, notices and advices back then and I see it was properly explained without giving negative views to bitcoin like others saying. If those investors you are pointing out are being turn off then they really don't understand what crypto is all about.

nydiacaskey01

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Quote from: teejayrichard2 on April 11, 2019, 02:18:54 PM

The Philippines are indeed doing all the can in the adoption of blockchain technology and use of bitcoin. Launching cryptocurrency ATM in Philippines will indeed spread the use of cryptocurrency in the country. I do hope other countries across the globe will take the bold step Philippines is taking in the adoption of cryptocurrency.

The news sounds very good to the ears but actually the Central bank of the Philippines have a standing memorandum circular about Bitcoin and other Crytocurrencies to be careful and using it and does not endorse use such Virtual Currency and such memorandum circular turns off potential investors or users.

teejayrichard2

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The Philippines are indeed doing all the can in the adoption of blockchain technology and use of bitcoin. Launching cryptocurrency ATM in Philippines will indeed spread the use of cryptocurrency in the country. I do hope other countries across the globe will take the bold step Philippines is taking in the adoption of cryptocurrency.

Noa_Amable

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Quote from: LinkinPrak on February 28, 2019, 06:10:34 AM

Wow, I was very impressed by this development. A great achievement for the Philippines because it has the courage to be open with crypto currencies. I really appreciate the Philippine government for giving permission and facilitating the issuance of crypto currency ATMs. I hope this will spearhead the emergence of crypto currency ATMs in other countries, especially in the Southeast Asian region.

starting with ATMs - then they will adopt it more and spread it more and more. nice place to visit next vacation Wink

zee11225

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Quote from: teejayrichard2 on March 04, 2019, 04:02:33 AM

i am really impressed with the steps Philippines is taking in the crypto world. Launching cryptocurrency ATM in Philippines is a welcomed idea and will surely make the adoption of bitcoin faster in Philippines. I also believe this will motivate other countries in taking the bold step Philippines has taken. More success to bitcoin growth.

The Philippines is one of the countries in Southeast Asia that is very open to the advancement of the digital world, including the use of cryptocurrency digital currencies, the government has given room to grow and even allows banks to use ATM cryptocurrency.
This policy cannot be separated from the number of tourists who use crypto money on their journey, so this opportunity is not ignored because it can increase tourist visits to the Philippines which will have an impact on other economic sectors.

erikoy

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Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

i will going to believe it if it does already launch and hoping to see btc eth on it so as to get a good market price increase of this crypto to which I am also holding. I am from the Philippines so we will be the first one to try this atm if it will being launched. I just happy to know that banks now offers crypto exchange using atm. This is a good sign that cryptocurrency adaptability is possible.

thankyoulord

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i saw this news and i was very impressed. I have always had this believe that with time countries will gradually adopt and accept bitcoin for usage and this step Philippines is taking is a welcomed step to the bitcoin community. Cryptocurrency ATM in Philippines means the citizens of the country are getting to accept and adopt bitcoin for usage which is definitely a welcomed step.

teejayrichard2

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i am really impressed with the steps Philippines is taking in the crypto world. Launching cryptocurrency ATM in Philippines is a welcomed idea and will surely make the adoption of bitcoin faster in Philippines. I also believe this will motivate other countries in taking the bold step Philippines has taken. More success to bitcoin growth.

Johnzky

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Quote from: LinkinPrak on February 28, 2019, 06:10:34 AM

Wow, I was very impressed by this development. A great achievement for the Philippines because it has the courage to be open with crypto currencies. I really appreciate the Philippine government for giving permission and facilitating the issuance of crypto currency ATMs. I hope this will spearhead the emergence of crypto currency ATMs in other countries, especially in the Southeast Asian region.

Since union bank facilitated this from Philippines for sure many asian banks will do the same ,banks now are adopting blockchain to their system and its just a matter of time for all of them to have ATM machines of cryptocurrency.and they will not let this chance go without them taking advantage

LinkinPrak

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Wow, I was very impressed by this development. A great achievement for the Philippines because it has the courage to be open with crypto currencies. I really appreciate the Philippine government for giving permission and facilitating the issuance of crypto currency ATMs. I hope this will spearhead the emergence of crypto currency ATMs in other countries, especially in the Southeast Asian region.

Jating

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Quote from: Eugenar on February 27, 2019, 01:55:17 PM

Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

In a developing country like Philippines, this a great opportunity to improve the economy and the nation as a whole as well. Through this, I can foresee that crypto will become more popular in the country and will take interest to the different industries that can also adapt crypto in their business transactions. I hope it will continue to the other banks as well.

What do you mean improved the economy? Unless anything related to crypto will create thousands of jobs for the country, I don't think it will have a significant effect financially.

Philippines though has show a lot of improvements lately, specially regarding crypto by fully regulating it through BSP, but it won't be enough in my opinion to push the country or at least help or improved their economy, just saying.

Natalim

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Quote from: Eugenar on February 27, 2019, 01:55:17 PM

Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

In a developing country like Philippines, this a great opportunity to improve the economy and the nation as a whole as well. Through this, I can foresee that crypto will become more popular in the country and will take interest to the different industries that can also adapt crypto in their business transactions. I hope it will continue to the other banks as well.

Not so popular yet but with the support of the government by granting licenses on business related to crypto, this is a good signal
for the future of crypto. This is the first bank to adopt wtih crypto through ATM and I believe there will be more banks to offer this kind of services.
For me, this is not really necessary since you can easily convert your crypto to fiat and vise versa but the physical presence is good.

Eugenar

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Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

In a developing country like Philippines, this a great opportunity to improve the economy and the nation as a whole as well. Through this, I can foresee that crypto will become more popular in the country and will take interest to the different industries that can also adapt crypto in their business transactions. I hope it will continue to the other banks as well.

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