UnionBank Crypto ATM To Launch On March 08

redsun114

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Quote from: Fundamentals Of on July 08, 2019, 10:01:06 PM

Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

Nice one! More and more banks are into cryptocurrency nowadays. They must have already realized that the future of commerce is going to be built on cryptocurrency. This is going to be lasting for some time though because some other banks are really bent on promoting the old banking system, which is without transparency and centralized. Glad that others are joining the crypto gang.

It will still be foolish of banks at this point to continue to fight cryptocurrency because cryptocurrency has gone so deep now beyond any bank, and we could see that we are now having so many countries that are fully friendly with it, so it is best that all other banks too are as wise as union bank and emulate their decision to join the cryptocurrency industry.

What has been their main fear is that it would render FIAT system and currency useless which still do not see how that will be possible because for a crypto to be acquired, Fiat is still needed for now, and for a cryptocurrency to be sold, it will still be converted into Fiat which will continuously make Fiat system of banks very relevant, while cryptocurrency serves as an alternative to it for those who would understand it.

Averim

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Has anyone tried this ATM, how is it working? I am curious the impact it has on the daily life Grin

Is there a list of cities where this ATM can be found?

fiulpro

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When something opens on the mobile and online , people cannot actually try it , people tend to think that everything online seeking investment and not controlled by the government is a Ponzi scheme , you cannot even blame them for this.
Now when we talk about new ATM's being opened around the world then we would be able to see how it could be beneficial for the people and at the same time it would interest more and more people to try cryptocurrencies.
If a bank is supporting them and is installing special ATM's for it then it itself is validating us.
But I think the usage would be limited.

traderethereum

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I think that will be great news for the public to see there is ATM around them so they can try the ATM, like what the other people in another country.
That will be a way to help cryptocurrency to be spread in out there, and I think that will help to reach more people to join in the cryptocurrency.
Although right now, we can see there is not many ATM installed on each country, but at least, that will be a new promotion in the inside of the country so people can start to learn cryptocurrency as we are.
If that is a success, then I think the other country will try to install the ATM so people could know that cryptocurrency is not just used by the wallet only, but it could use by the ATM.

bearexin

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Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

How are they going to convert a fiat to cryptocurrency by making use of an ATM?? Does the atm debit their bank card and credit crypto to their specified wallet address?? How does it work? I haven’t made use of a crypto atm before, so I don’t really know how this works for those that makes use of it. The only thing I know is that you can make use of your crypto wallet issues debt card to withdraw your crypto as cash from any atm in the world that is accepting this MasterCard and Visa cards. But if it’s for making use of the atm to buy cryptocurrency, I haven’t seen anyone say something like that before, so I don’t really know if it is possible.

jonaire99

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The Philippines is becoming one of the cryptocurrency haven in the southeast asia with the establishment of its first bitcoin ATM. I hope UnionBank will put another one in some strategic location around metro manila and some provincial cities where bitcoin is well-known. There are already several bitcoin exchanges and fintech companies in this country to support and ensure adoption of cryptocurrencies like bitcoin.

fullhdpixel

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Quote from: nightways on July 08, 2019, 12:39:42 AM

That’s Really cool, I have never made use of this cryptocurrency ATM before, not even once… So I’m wondering it’s going to be, there’s not one in my country. I do have debit card that I got from Bitpay and I always use it in bank ATMs, any ATM that accepts MasterCard card and Visa… I always make use of the debit cards there to make withdrawals only to cash. This cryptocurrency ATM might be something different and might have other features that the normal banks ATM will not allow you do… just like transfer. Wish they will just build one here… Especially companies like Luno, cause it has been a long time they launched their services here. Maybe they should try something like that.

I would really love Luno so do something like this because this the best an only local exchange that is available in my country and they have been extremely effective ever since I have been using them, Luno would do better because they are in several countries, but what is still strange to me is how these people would be able to establish an ATM machine in a country that is not cryptocurrency user friendly, like China and US because the ATM machine that I know is a physical gadget which would be install in a physical location, would the government not see it and probably jail the person in charge for operating such. Imagine India too that is very strict with their cryptocurrency policy, how would they be able to establish such system there, except maybe they deal more in user friendly countries.

costanos02

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Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

This is a very good news for Asian Countries specialy in Philippines, Unionbank is really a crypto friendly bank.
And in fact another good news for Union Bank is that Union Bank is a member of Klaytn Governance Council.

Klaytn Governance Council -
is an alliance of multinational businesses and organizations, responsible for platform governance, consensus node operation, and ecosystem growth.

List if members of Klaytn Governance Council
LG Electronics
LG Uplus
LG International
Celltrion
Netmarble
WemadePearl Abyss
PUBG
Neoply
FSN
Kakao
Kakao Pay
Kakao Page
Kakao Games
Kakao IX
UnionBank of the Philippines
Axiata Digital
Hashkey
Everrich
Hi Inc
Cocone
Gumi
GroundX

Source:
http://tinyurl.com/yxvb3r98

Fundamentals Of

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Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

Nice one! More and more banks are into cryptocurrency nowadays. They must have already realized that the future of commerce is going to be built on cryptocurrency. This is going to be lasting for some time though because some other banks are really bent on promoting the old banking system, which is without transparency and centralized. Glad that others are joining the crypto gang.

btc_angela

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Quote from: Finestream on July 08, 2019, 04:47:47 PM

Quote from: HatakeKakashi on July 06, 2019, 10:46:29 AM

Quote from: Apes on July 04, 2019, 01:12:20 AM

I do not know for sure, the Philippine government's policy in dealing with cryptocurrencies use in the general public. but with this ATM installation it is explained that indeed in the Philippines it is friendly to crypto. in fact this is a very big opportunity and other banks should be involved in providing ATMs like this.

Im happy because my government is really friendly to the cryptocurrency, I want to share they have some people here in the Philippines who scam using the bitcoin but it will not affect the legility of the bitcoin because the government is know that only scammer is the people and not the bitcoin so the Bank will be supported also the cryptocurrency so they launch Bitcoin ATM.

Right.Bitcoin has been a negative issue in the Philippines but i'm still glad that inspite of that,UnionBank has still launched its crypto atm machine successfully.Hopefully this will be the first step so that other banks will start promoting bitcoins too and definitely we can transact bitcoin in their respective banks.

I wasn't aware of negative issues of bitcoin in the Philippines, or crypto in general. That's why UnionBank has been given the good signal by their Central Banks to put their own bitcoin ATM's. And besides, there is an existing one already. If they have a issue or a hard stance of crypto, then they won't support the second ATM and could have shutdown the first.

Finestream

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Quote from: HatakeKakashi on July 06, 2019, 10:46:29 AM

Quote from: Apes on July 04, 2019, 01:12:20 AM

I do not know for sure, the Philippine government's policy in dealing with cryptocurrencies use in the general public. but with this ATM installation it is explained that indeed in the Philippines it is friendly to crypto. in fact this is a very big opportunity and other banks should be involved in providing ATMs like this.

Im happy because my government is really friendly to the cryptocurrency, I want to share they have some people here in the Philippines who scam using the bitcoin but it will not affect the legility of the bitcoin because the government is know that only scammer is the people and not the bitcoin so the Bank will be supported also the cryptocurrency so they launch Bitcoin ATM.

Right.Bitcoin has been a negative issue in the Philippines but i'm still glad that inspite of that,UnionBank has still launched its crypto atm machine successfully.Hopefully this will be the first step so that other banks will start promoting bitcoins too and definitely we can transact bitcoin in their respective banks.

nightways

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That’s Really cool, I have never made use of this cryptocurrency ATM before, not even once… So I’m wondering it’s going to be, there’s not one in my country. I do have debit card that I got from Bitpay and I always use it in bank ATMs, any ATM that accepts MasterCard card and Visa… I always make use of the debit cards there to make withdrawals only to cash. This cryptocurrency ATM might be something different and might have other features that the normal banks ATM will not allow you do… just like transfer. Wish they will just build one here… Especially companies like Luno, cause it has been a long time they launched their services here. Maybe they should try something like that.

HatakeKakashi

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Quote from: Apes on July 04, 2019, 01:12:20 AM

I do not know for sure, the Philippine government's policy in dealing with cryptocurrencies use in the general public. but with this ATM installation it is explained that indeed in the Philippines it is friendly to crypto. in fact this is a very big opportunity and other banks should be involved in providing ATMs like this.

Im happy because my government is really friendly to the cryptocurrency, I want to share they have some people here in the Philippines who scam using the bitcoin but it will not affect the legility of the bitcoin because the government is know that only scammer is the people and not the bitcoin so the Bank will be supported also the cryptocurrency so they launch Bitcoin ATM.

Mahanton

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Quote from: FrozenBit on July 05, 2019, 09:45:10 PM

As expected, the big guys in the banking industry are really involved in this new industry. All banks are evolving better not to be crushed by the blockchain in the future.
In the future, you'll see banks that will allow and provide payment services between fiat money and crypto coins.
We will be much easier to buy and sell BTC without paying too much for exchange intermediaries.

Its always been an advantage thing if there's a bank that would support up crypto but well it all depends on the jurisdiction or decision of the government itself.
If its on neutral or legalizing then this would be most likely the case but if not then we cant see these banks into these places.
Unionbank is a Philippine bank afaik.

FrozenBit

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As expected, the big guys in the banking industry are really involved in this new industry. All banks are evolving better not to be crushed by the blockchain in the future.
In the future, you'll see banks that will allow and provide payment services between fiat money and crypto coins.
We will be much easier to buy and sell BTC without paying too much for exchange intermediaries.

shinharu10282016

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Quote from: cosmofly on July 03, 2019, 08:41:24 PM

Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

well, this is really another good news from big banks. This is also one of my exact predictions about the crypto market and banks in the future.
Banks will not try to resist blockchain technology, they are gradually changing and accepting new payment facilities.
This is also really a sign of the expansion of the blockchain. In the future, banks will support crypto soon.

Other banks are afraid of being casually asked/ ostracized by their country's Anti-Money Laundering Council. It will be another gateway for bad people to make their money real and continuous and use Bitcoin as a means. But yes, I also hope more of these banks adopt bitcoin not only because of its price but also of its technology they are being offered.

guoyu78

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Quote from: cosmofly on July 03, 2019, 08:41:24 PM

Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

well, this is really another good news from big banks. This is also one of my exact predictions about the crypto market and banks in the future.
Banks will not try to resist blockchain technology, they are gradually changing and accepting new payment facilities.
This is also really a sign of the expansion of the blockchain. In the future, banks will support crypto soon.

This is what I expect other banks to do too rather than the fight they keep giving cryptocurrency which I believe they may never win, because the blockchain technology product has gone too deep and quite beyond control now, the best would bee for any bank with sense and any bank that intend to remain relevance to come up with this type of idea that union bank has come up with too.

This union bank, I dint know if it is the same union bank that I have in my country, could it be that they are internationally recognized, and if that is so, this bank has really taken a very great step which could even help the awareness of cryptocurrency spread across where they ate being located. For union bank to have also adopted crypto, they must have seen the gain it has to them better than their normal traditional way of operating.

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Quote from: Apes on July 04, 2019, 01:12:20 AM

I do not know for sure, the Philippine government's policy in dealing with cryptocurrencies use in the general public. but with this ATM installation it is explained that indeed in the Philippines it is friendly to crypto. in fact this is a very big opportunity and other banks should be involved in providing ATMs like this.

It's pretty obvious that the Philippine government is very friendly crypto. Filipino crypto enthusiast is growing very fast and thanks to the government. This is really good thing to hear, but in a hindsight, I think UnionBank launching their own Bitcoin ATM is just a way to show that they are willing to cater to their clients need. I mean since Bitcoin is growing in the country, they need to take some action on it. So obviously, a Bitcoin ATM is a good business decision. Of course, don't be caught by the hype because just like any other Bitcoin ATM's around the globe, the fees will be very high, specially if the price soars around $20000 per BTC again.

Apes

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I do not know for sure, the Philippine government's policy in dealing with cryptocurrencies use in the general public. but with this ATM installation it is explained that indeed in the Philippines it is friendly to crypto. in fact this is a very big opportunity and other banks should be involved in providing ATMs like this.

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Quote from: Unblock_news on March 06, 2019, 10:43:08 PM

On Friday, people will then be able to convert fiat to cryptocurrency and vice versa lot easier using UnionBank's crypto ATM.

Full article here: https://www.unblock.news/news/unionbank-crypto-atm-launch-march-8

well, this is really another good news from big banks. This is also one of my exact predictions about the crypto market and banks in the future.
Banks will not try to resist blockchain technology, they are gradually changing and accepting new payment facilities.
This is also really a sign of the expansion of the blockchain. In the future, banks will support crypto soon.

Topic: UnionBank Crypto ATM To Launch On March 08 (Read 8854 times)