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.

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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.

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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.

cosmofly

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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.

arpon11

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Quote from: loopes on March 06, 2019, 11:01:30 PM

Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

That is really great and we should expect more of this as Bitcoin popularity is growing. I do believe that very soon we would have one ATm using crypto currency for fiat withdrawal in my country. The more of this ATM we have the more adoption should be expected. Online promotion of crypto currency and bitcoin is not enough and we needs physical presence of anything related to bitcoin in every institutions and ATM is one of the way to get Bitcoinevery were and you will see blow off of bitcoin in our society.

SquallLeonhart

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Quote from: Febo on July 01, 2019, 07:30:47 PM

so far number of Bitcoin ATMs doubled every year. So now are a bit over 5000, that mean next year same time should be 10000.

But, crypto ATM is not as big of an impact as many people may think, it helps you stay anonymous I think? I mean I doubt they are asking for KYC on ATM's but you never know, so you may actually have as much bitcoin as possible and cash them all out right away on an ATM without government hearing about it which is awesome but considering these are banks maybe they are getting information I don't know.

So at best case they are getting a little volume from people who want to stay anonymous and at worst they are not even getting that. How could they affect the world when they are so few and the volume on them are so little and not even on volume spectrum? I think they are creating a great chance for us to cash out easily but nothing else, not enough to make any changes in the prices.

Quote from: TimeTeller on July 01, 2019, 07:40:48 PM

So has anyone tried to withdraw their money from bitcoin?

BTMs are not a new thing here, if you go searching some 3 years back forum history many people have shared their all new experiences with Bitcoin ATMs.

Quote from: TimeTeller on July 01, 2019, 07:40:48 PM

Might be good to know if someone already tried their ATM.

I remember that people shared like they needed to sacrifice ~10% than current market prices while using BTMs regardless of buying or selling bitcoins.

TimeTeller

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Quote from: alisafidel58 on March 18, 2019, 07:45:32 AM

Interesting that Union Bank finally decided to put up an ATM. Well, I guess I don't have to go that far just to withdraw my money from a Security Bank ATM.

I was hoping that BDO would do the same, since its much more convenient and safe to withdraw in a shopping mall like SM.

So has anyone tried to withdraw their money from bitcoin?
Might be good to know if someone already tried their ATM.
And how much is the price difference from the current bitcoin rate?
I hope they are giving a competitive rate as compared to their local exchange companies.

Febo

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Quote from: loopes on March 06, 2019, 11:01:30 PM

Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

so far number of Bitcoin ATMs doubled every year. So now are a bit over 5000, that mean next year same time should be 10000.

semobo

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I think it will not create any impact because there are lots of Crypto ATMs are implemented in all over the world but the Crypto users are getting out from this field after sometimes so holding on their trust about the cryptocurrency only makes everyone to install their investment here.

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UNION BANK CRYPTO ATM LAUNCH ON MARCH 08? IT IS A SUCCESS FOR FINANCIAL INDUSTRIES, IS A GOOD NEWS, IF IT WILL HAPPEN OTHER BANKS WILL LIKE TO INITIATE CRYPTO,BITCOIN ATM WILL CONVINCE MANY CITIZENS TO APPRECIATE CRYPTO AND ALSO ADOPT.

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Quote from: leavolnhals on March 18, 2019, 07:56:27 AM

The Philippines is still a country with a very good response to crypto. I guess that their GDP over the years has grown strongly because citizens have participated and developed in the crypto market.
I hope Vietnam will also get approval from the government for electronic money transactions in the country. This is a great opportunity for any developing country to flourish.

right, the Philippines is a country that is open to crypto, this should be emulated by other countries, of course with easier facilities, it will grow the number of bitcoiners there, and this is good for its development

leavolnhals

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The Philippines is still a country with a very good response to crypto. I guess that their GDP over the years has grown strongly because citizens have participated and developed in the crypto market.
I hope Vietnam will also get approval from the government for electronic money transactions in the country. This is a great opportunity for any developing country to flourish.

alisafidel58

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Interesting that Union Bank finally decided to put up an ATM. Well, I guess I don't have to go that far just to withdraw my money from a Security Bank ATM.

I was hoping that BDO would do the same, since its much more convenient and safe to withdraw in a shopping mall like SM.

creeps

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Quote from: TheCoinGrabber on March 15, 2019, 10:38:06 AM

I'm assuming this is via a dedicated ATM machine. I know that's great since it'll be easier to cash in but I hope they allow their regular ATMs for cash out. I've heard Security Bank used to offer such services on their ATMs, meaning even non-clients can use the service.

There’s still no final terms and regulations i think but maybe they will also accept any other cards even if you’re not their client since there are some cryptocards available now in the market. This is a great development so far in the Philippines, i hope for more good news like this and i also hope that this move can affect the market positively.

auntyjmary

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Interesting, we need more of such news to put bitcoin in real life usage through the ATMs. It is a good initiative to increase the number of bitcoin ATMs in the world and developers should certainly consider spreading the bitcoin ATMs across the globe. I believe this is a good marketing tool for the world of cryptocurrencies.

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Good job UnionBank, if things go well other banks would definitely follow, they will see through it that their current way of thinking is not enough to support their consumers need. The only problem now is how much would be the fees to convert fiat into crypto, since they are partnering with Coin.ph. The 3rd party app coins.ps is really helpful but it takes too much fee when converting crypto-fiat and vice versa.

playboy654

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I am seeing this as a beginning because the Crypto ATMs will only be the way to get the future from connecting the people to blockchain system and it is very important for taking out their money very easy and it could be accepted by the people in very short period.

niteroy

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The increase in the number of crypto ATMs really has a positive effect on the entire crypto industry. The easier it is to buy and sell a cryptocurrency, the more widespread the cryptocurrency will be. Every day, several new crypto ATMs are installed, so the number of people who are familiar with cryptocurrencies is also growing.

Botnake

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Quote from: TheCoinGrabber on March 15, 2019, 10:38:06 AM

I'm assuming this is via a dedicated ATM machine. I know that's great since it'll be easier to cash in but I hope they allow their regular ATMs for cash out. I've heard Security Bank used to offer such services on their ATMs, meaning even non-clients can use the service.

Security Bank offers different features, it's like a regular withdrawal but it's egive cash out means no more card involve, just type in the code and the pin and you are good to go, crypto transaction in this one is facilitated by a local exchange where they partnered with security bank.

whirlcoin

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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

I also read some articles about the new ATM of cryptocurrencies and I think it will be the beginning we need to see a lot more development like this and I also hope if the ATM for cryptocurrency will increase the value also increase decrease people need very user friendly and easy to use method ATM is very good for the development to attract the people.

guoyu78

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Quote from: Kakmakr on March 11, 2019, 01:06:45 AM

Man I have been waiting for something like this for a long time. We need more Banks with this attitude, " Meanwhile, for UnionBank, the action on the cryptocurrency ATM is part of their goal to their clients' evolving needs, which can sometimes involve people who use cryptocurrency. "

Whilst some Banks close people's accounts when it is revealed that it is used for Crypto currency, UnionBank saw the gap in the market and they embraced those clients. Bitcoiners in that country should all close their accounts with their current Bank and open accounts at Bank like UnionBank that supports Crypto currencies. Wink

I think union bank have a good marketing strategy. They have seen the loop holes with their competitors and have taken a good advantage of it. This would definitely bring them more clients as there are a number of cryptocurrency users who have been eager for such opportunity.

It is however a very good boost to cryptocurrency and a welcoming news. Without much doubt we expect many other banks to follow suit soon as this would be a profitable decision to union bank

TheCoinGrabber

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I'm assuming this is via a dedicated ATM machine. I know that's great since it'll be easier to cash in but I hope they allow their regular ATMs for cash out. I've heard Security Bank used to offer such services on their ATMs, meaning even non-clients can use the service.

mirawantirinjana

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Quote from: sheenshane on March 06, 2019, 11:53:17 PM

Finally, they have now fully announced that UnionBank Crypto ATM will launch on March 8 here in the Philippines.
Bitcoin ATM's now fastest grow and I'm sure mass adoption will follow after this, so I smell probably have a huge effect on price and that is a huge pump on price. Hopefully, all institutional Banks are follow on the step of what Unionbank did.

this news is very good news, I am sure that the development of the crypto currency will run very fast. this achievement proves that bitcoin and other currency can be the future currency.

MFahad

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Quote from: loopes on March 06, 2019, 11:01:30 PM

Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

It is informatics news for me, and it seems like bitcoin is running very fast, and also i feel happy banks cooperate it. Because in most of the countries Governments not allow bitcoin ATM like in Asians countries. But to see the opposite side In USA, Canada and UK in these countries people use bitcoin like a fiat currency.

Botnake

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Good news for the Philippines, they have their first bank that publicly shows they support crypto.
This is a good start, I am sure the machines are not enough for the people right now so this might call for a competition from other banks as well.
BPI, BDO, these are the leading banks in the Philippines, I'm expecting that they will join the party soon.

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Quote from: StarofBTC on March 14, 2019, 08:30:57 AM

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 very good news and coming from union bank and it means a lot to the cryptocurrency world. Crypto is here to stay i must say. They have clearly stated it that the reason they are starting up this cryptocurrency ATM is part of their goal to their clients evolving need, and i guess majority are those who use cryptocurrency.

There is a good probability that many banks will follow suit and this will result to having so many Bitcoin ATM all around the world, thereby leading to a fast worldwide Bitcoin adoption.

I hope other bank would do the same but as for now, This is quite a breakthrough. Especially for Philippines, A lot of banks doubted about the existence or the use of the crypto. But furthermore, I'd hope other banks would follow as well for a much more varieties for the filipinos (HAHA). Well, let's see if this move of Unionbank would have an effect in the future of Bitcoin here in the philippines.

StarofBTC

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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 very good news and coming from union bank and it means a lot to the cryptocurrency world. Crypto is here to stay i must say. They have clearly stated it that the reason they are starting up this cryptocurrency ATM is part of their goal to their clients evolving need, and i guess majority are those who use cryptocurrency.

There is a good probability that many banks will follow suit and this will result to having so many Bitcoin ATM all around the world, thereby leading to a fast worldwide Bitcoin adoption.

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Quote from: Jating on March 11, 2019, 02:04:13 AM

Maybe a long the way we can see growth of bitcoin ATM's in the country so it means that profits for them as well. So it's a win-win situation and it's nice to hear that at least Philippines is pushing ahead of their goals to be sort of a crypto hub in the South East Asia.

Now that the Philippines has already established a cryptocurrency ATM, the next step would be the widespread of knowledge about cryptocurrencies to attract more people and potentially create new investors. Slowly, the country is heading towards the evolution of payment- which would benefit (like what you said) both the user and the country.

I wonder what would be the next move of other big banks (such as BDO, BPI, Metrobank, etc.) and if this affects their decision on accepting cryptocurrencies as well.

Quote from: Indamuck on March 10, 2019, 10:28:01 AM

I haven't been too positive on crypto ATMS as they stand. The fees are very high and not many people seem to even be using them. The only real benefit if you can insert cash and receive bitcoin and remain somewhat anonymous but they usually have cameras around so maybe wear a disguise.

Interesting. This is to be expected as monopolizing and establishing the first cryptocurrency ATM would result to high transaction fees and prices. Well as far as I know, only (1) ATM has been established as of 2019. Give it some time to ripe and the fruit will bear once people know about cryptocurrencies.

Jating

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Quote from: Lanatsa on March 10, 2019, 12:36:53 PM

Quote from: Jating on March 10, 2019, 10:52:01 AM

Quote from: Reid on March 10, 2019, 09:47:41 AM

They say it is also one of the best when converting Paypal money back into cash. The transaction fees are way lower than other banks.

Hmmm. This could be a big step for Philippines. Electronic withdrawal and also they have been really lively with online currencies.
Just one thing though since I cannot open the link yet.
Are they not being questioned by the Philippine government since the money laundering act is being strengthen by them?
I mean it could be a possible way for an escape route of government officials.

I'm sure that they have work it out somewhat with the BSP - Central Bank of the Philippines that's why they have been into this crypto sphere since last year. Philippine government is very lenient as far as crypto and that's the main reason why there's a lot of blockchain/crypto related going on in the country.

I agree with @Indamuck, that's the only drawback I can see as far as crypto ATM is, the exorbitant fees. There's a lot of alternatives like localbitcoins.

Banks are businesses so imposing higher fees isnt really surprising specially it is residing in philippines.There are lots of alternatives actually and even just buying directly with coins.ph merchant will be more
worthy than with these ATM's. Not sure on how much they do add up.

Right, but we can still consider this a good and welcoming news for bitcoin enthusiast in the Philippines. It could be a marketing strategy for UnionBank as well because we all know that banking sector in the Philippines has a very stiff competition and maybe they want to get ahead by being the first banking institutions to fully offered a bitcoin ATM.

Maybe a long the way we can see growth of bitcoin ATM's in the country so it means that profits for them as well. So it's a win-win situation and it's nice to hear that at least Philippines is pushing ahead of their goals to be sort of a crypto hub in the South East Asia.

Harlot

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Such a big boost for the crypto industry's presence herebin the Philippines and I'm glad that a big name bank is backing them up unlike countries where big banks are against them Unionbank is doing a different approach on the matter. Althought they just launched the crypto atm in a "concept" branch they might just be doing this as a feasibility study as Makati City is one of the business districts in the Philippines, they might just want to see how business professionals will accept the atm.

Kakmakr

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Man I have been waiting for something like this for a long time. We need more Banks with this attitude, " Meanwhile, for UnionBank, the action on the cryptocurrency ATM is part of their goal to their clients' evolving needs, which can sometimes involve people who use cryptocurrency. "

Whilst some Banks close people's accounts when it is revealed that it is used for Crypto currency, UnionBank saw the gap in the market and they embraced those clients. Bitcoiners in that country should all close their accounts with their current Bank and open accounts at Bank like UnionBank that supports Crypto currencies. Wink

shesheboy

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Quote from: akram143 on March 10, 2019, 03:57:43 PM

I also heard about this news improvement of the Crypto ATM will be a good news for everyone who are invested here because if there is some good news will came out it could be a sign of improvement of cryptocurrency so I think this could be also be like that.

news like this is indeed good . its good to the crypto and to the people that join crypto because this can increase the existing adoption . if average people will see a crypto atm ,they will be curious and they will probably try it .

Quote from: Lanatsa on March 10, 2019, 12:36:53 PM

Banks are businesses so imposing higher fees isnt really surprising specially it is residing in philippines.There are lots of alternatives actually and even just buying directly with coins.ph merchant will be more
worthy than with these ATM's. Not sure on how much they do add up.

crypto atm's are not also for buying but they can also be used for cashing out your crypto's to fiat . fees wont really matter because what matter the most is the convinience . coins.ph isnt also cheap as im also a regular user of this wallet . their buying price is high compare to other platfroms . so how can you say that they are worthy ?

BossMacko

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This is a good news for people in Philippines that uses Crypto already. Also it will make the Cryptocurrency more popular if this will be aired in news, newspaper by UnionBank itself. As the first Bank that voyage in Crypto i hope they became success and other banks follow their footstep.

MelodicPop

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Very interesting move by a bank. Good development in the right direction imo.

akram143

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I also heard about this news improvement of the Crypto ATM will be a good news for everyone who are invested here because if there is some good news will came out it could be a sign of improvement of cryptocurrency so I think this could be also be like that.

Xising

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Quote from: loopes on March 06, 2019, 11:01:30 PM

Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

That's right. I think that's one of the best signs that there is more to come for cryptocurrencies. Since banks are the biggest profit creating and keeping entities in the business, seeing more and more banks accept cryptocurrencies is really a good jump start for all other business entities to accept it once and for all. Once that happens, there will be a lot of changes in the market that would help how the cryptocurrency market will grow. It could also build the trust that most people have been lacking.

daarul50

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Good news. Launching the ATM will have a good impact on the development of bitcoin and blockchain technology in the future. People will start to be interested and curious about bitcoin. With ATM, we are one step ahead to be able to legalize bitcoin throughout the world so that it can become a legitimate transaction tool.

Supercrypt

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Quote from: Baofeng on March 10, 2019, 03:04:57 AM

I posted a similar thread way back a month ago here:

There are those type of banks all over the world, each country has their own but unfortunately we do not have a huge worldwide one because banks do not make bulk of their money from small people, they usually make it thanks to their investments to the stocks in other companies.

In every single country (well maybe not really tiny ones) there is always this small to medium bank that is highly digital and very innovative and improving, even though I live in a third world country I use a bank that has a seperate side-bank of sorts which is purely digital and if you use that than you do not pay any expenses on anything, sending money or receiving money fully free, paying bills fully free, doing whatever you want online basically is free, the only issue is you can't withdraw your money to cash, so you have to send it to the original bank and withdraw from there.

Basically, all I am trying to say is that we have many unionbanks all around the world but we need one of them to be bigger than likes of JP Morgan to ever have a chance.

mersal

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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

very good news it could be a huge happiness for the people to convert their money and Bitcoin easily in a single way and I think it could be a sign of acceptance by the people and also the government in sometimes.

Lanatsa

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Quote from: Jating on March 10, 2019, 10:52:01 AM

Quote from: Reid on March 10, 2019, 09:47:41 AM

They say it is also one of the best when converting Paypal money back into cash. The transaction fees are way lower than other banks.

Hmmm. This could be a big step for Philippines. Electronic withdrawal and also they have been really lively with online currencies.
Just one thing though since I cannot open the link yet.
Are they not being questioned by the Philippine government since the money laundering act is being strengthen by them?
I mean it could be a possible way for an escape route of government officials.

I'm sure that they have work it out somewhat with the BSP - Central Bank of the Philippines that's why they have been into this crypto sphere since last year. Philippine government is very lenient as far as crypto and that's the main reason why there's a lot of blockchain/crypto related going on in the country.

I agree with @Indamuck, that's the only drawback I can see as far as crypto ATM is, the exorbitant fees. There's a lot of alternatives like localbitcoins.

Banks are businesses so imposing higher fees isnt really surprising specially it is residing in philippines.There are lots of alternatives actually and even just buying directly with coins.ph merchant will be more
worthy than with these ATM's. Not sure on how much they do add up.

Kimonoe

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this is the latest development of cryptocurrency, hopefully this ease of use is a lot happening in many countries, so people will try to use it if it feels profitable, with more and more users of course it is a positive development

Jating

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Quote from: Reid on March 10, 2019, 09:47:41 AM

They say it is also one of the best when converting Paypal money back into cash. The transaction fees are way lower than other banks.

Hmmm. This could be a big step for Philippines. Electronic withdrawal and also they have been really lively with online currencies.
Just one thing though since I cannot open the link yet.
Are they not being questioned by the Philippine government since the money laundering act is being strengthen by them?
I mean it could be a possible way for an escape route of government officials.

I'm sure that they have work it out somewhat with the BSP - Central Bank of the Philippines that's why they have been into this crypto sphere since last year. Philippine government is very lenient as far as crypto and that's the main reason why there's a lot of blockchain/crypto related going on in the country.

I agree with @Indamuck, that's the only drawback I can see as far as crypto ATM is, the exorbitant fees. There's a lot of alternatives like localbitcoins.

Indamuck

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I haven't been too positive on crypto ATMS as they stand. The fees are very high and not many people seem to even be using them. The only real benefit if you can insert cash and receive bitcoin and remain somewhat anonymous but they usually have cameras around so maybe wear a disguise.

Reid

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They say it is also one of the best when converting Paypal money back into cash. The transaction fees are way lower than other banks.

Hmmm. This could be a big step for Philippines. Electronic withdrawal and also they have been really lively with online currencies.
Just one thing though since I cannot open the link yet.
Are they not being questioned by the Philippine government since the money laundering act is being strengthen by them?
I mean it could be a possible way for an escape route of government officials.

Baofeng

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I posted a similar thread way back a month ago here:

https://bitcointalksearch.org/topic/union-bank-of-the-philippines-launching-cryptocurrency-atm-5108095

@Oilacris, - yes, I don't know what's the thing with BDO right now. I still remember using my Union Bank to withdraw my paypal earnings as I was a freelancer before. So they really supports lots of innovation so I'm not surprise if they lead the way as far as crypto in the Philippines is concern. Union Bank also open a blockchain based institute, https://bitpinas.com/news/union-bank-opens-blockchain-institute/.

coinplus

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It is always this new innovative bank that starts but than everyone will follow I am sure of that. Look at Tesla for example, its a car company that was built upon the idea that electric cars could be something decent and wanted, before Tesla all electric cars were looked as something environmentalists use and so forth and it wouldn't go fast and it wasn't cool at all.

Now, thanks to Tesla it is something like a brand, kinda like apples iphones, it is highly marketed and loved by everyone. That is why now many big car companies started to invest billions of dollars into electric cars because they realized they don't want to be left behind in this race. Same applies for Bitcoin ATM, companies who have BTM will be favored and others will see that and eventually will start doing to same so they won't be left behind neither.

Crypdon

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Hopefully they will also introduce a basket of crypto currencies so people will know that it isn't just bitcoin that exists in this new world, we have a coin / token for pretty much everything

Oilacris

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Quote from: dothebeats on March 08, 2019, 08:42:33 AM

One of the best banks around in the Philippines if you'd ask me. Their EON debit card works wonders for my freelancing ventures during my stay there and perhaps their crypto-ATM would be working wonders too. It is no doubt that they'd be placing their crypto-ATMs on the hubs of cryptocurrency, which is currently Makati and Ortigas since there are already businesses and establishments in there that are accepting crypto albeit discreetly (or not really letting the word out just yet.) Unionbank is really spearheading a lot of good things and innovation for banking in the Philippines, and I hope their crypto-ATMs wouldn't be the end.

Among all the banks on Philippines I do only see that Unionbank is really the only one who do accept or adopt cryptocurrencies unlike other banks like BDO which they do really restrict out and
a friend of mine been block on his account due to crypto earnings and with this news about crypto ATM by unionbank then its really a good news for crypto users out there residing on PH.

dothebeats

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One of the best banks around in the Philippines if you'd ask me. Their EON debit card works wonders for my freelancing ventures during my stay there and perhaps their crypto-ATM would be working wonders too. It is no doubt that they'd be placing their crypto-ATMs on the hubs of cryptocurrency, which is currently Makati and Ortigas since there are already businesses and establishments in there that are accepting crypto albeit discreetly (or not really letting the word out just yet.) Unionbank is really spearheading a lot of good things and innovation for banking in the Philippines, and I hope their crypto-ATMs wouldn't be the end.

aad140386

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Cryptobankomats are becoming more and more in different countries. Even in African countries, Bitcoin ATMs have already begun to appear. This suggests that cryptocurrency continues to evolve rapidly. Unfortunately, in many countries, cryptocurrencies are banned and equal to monetary surrogats. For example, in Russia, the police arrested Bitcoin ATMs and a penalty was imposed on the owners, but nevertheless, the law on cryptoregulation should be passed this year and the crypto ATMs can be established legally. And so in many countries.

merchantofzeny

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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

I actually never managed to use a BTC ATM before, I haven't seen any nearby. This is good decision on part of UnionBank. I might actually open an account there, especially since my bank disabled cash-in and imposed larger fees for cash out.

CryptoHunter24

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This is such great news especially to us crypto lovers, and this just also means that banks starting to adopt crypto and soon, mass adoption will begin, imagine ten years from now, maybe there will no use of paper money. 😍

jossiel

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Unionbank won various awards and recognition such as;

Bests digital bank
Most innovative bank of the year

These were the remarkable for me and few of the many. You can see most of their awards and citations; https://www.unionbankph.com/aboutus/corporate-governance/awards-and-citations

With a bank that's recognized through the entire country, people will start to think that crypto's are good for everybody. They have made their own crypto ATM and probably in the future they will create more and will place it everywhere to be more accessible. It can also encourage other banks to do so although crypto's are really against to the bankers. But this shows that crypto is applicable to everybody and these banks can also make money out of it.

palle11

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This is good for Union bank customers. It will make there banking experience better, easier and smooth to transfer or convert from cryptocurrency to fiat. But I don't know how far reaching it will be for branches located in countries who are not yet dealing in cryptocurrency.

pat4cryptoreal

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This is one of the most exciting news I have read today, Since it is happening in other countries I know that one day we will have bitcoin ATM in my country. With bitcoin ATM it is not difficult to convince your citizens about bitcoin.

Kevin77

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Bitcoin atm (or better known version BTM as in bitcoin teller machine) is getting more and more popular but I doubt that is the case for getting the adoption rate higher. We need to figure out ways to make the bitcoin world a lot more day to day and BTM's are one way to do it and I support them endlessly however if we could find a way to pay people in bitcoin while they receive fiat instead of bitcoin would be the biggest leap of all.

If I can go to a cafe and pay with my bitcoins on my phone while they basically charge me whatever dollar amount they want and get it on their bank instead of receiving my bitcoin, that will increase the adoption insanely. The problem with bitcoin and the price being stuck as that we can't figure out a way to bring bitcoin into our daily lives.

n0ne

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Quote from: davis196 on March 07, 2019, 02:28:50 AM

Quote from: loopes on March 06, 2019, 11:01:30 PM

Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

2658 bitcoin ATMs aren't that much for a big country like the USA.They have to be atleast 100,000. Grin

This post is kinda pointless.Should we celebrate,every time a new bitcoin ATM is installed somewhere around the world?

We are just infants when compared to the fiat usage as well its history. So, each and every single bitcoin ATM into existence will add value to the cryptocurrency community. What's been mentioned is true, at least 100000 is a must and the same is possible in the future. We're just a decade away from the first bitcoin into existence.

davis196

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Quote from: loopes on March 06, 2019, 11:01:30 PM

Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

2658 bitcoin ATMs aren't that much for a big country like the USA.They have to be atleast 100,000. Grin

This post is kinda pointless.Should we celebrate,every time a new bitcoin ATM is installed somewhere around the world?

ethereumhunter

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I hope that the news can affect the other banks to integrate the systems with cryptocurrency. It will help the user to buy crypto while they can watch the account too so they can make sure that their member is not using cryptocurrency for illegal things.

That will bring good news in the financial industry and if it's a success, then the chance for the other banks to follow will be wide open. And when it's a success, we will see the adoption in the financial will be happening soon. But there will need support too from the governments as they are making a regulation for the crypto and the financial in their country.

sheenshane

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Finally, they have now fully announced that UnionBank Crypto ATM will launch on March 8 here in the Philippines.
Bitcoin ATM's now fastest grow and I'm sure mass adoption will follow after this, so I smell probably have a huge effect on price and that is a huge pump on price. Hopefully, all institutional Banks are follow on the step of what Unionbank did.

SvonioneFromMangoCoinz

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This is really great. I hope that Asian countries will have similar ATM pillars. Europe is currently investing heavily in crypto and Asians need to have such positive moves.
I guess after only 5-7 years, our crypto market will have a lot of good changes. Blockchain will become an important technology for financial businesses, the crypto market is where investors want to avoid rising inflation each year and the great thing is that people can trade money with each other through countries with very cheap fees.

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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

After a series of days reading articles about crypto, I realized that businesses are very excited about participating in the crypto market and creating favorable conditions for investors in the crypto market.
ATMs appear more and more, no longer too strict rules about crypto. I feel that our market is highly appreciated in countries around the world. Let's hope a BTC is priced at $ 50,000 and that can become true in the future.

loopes

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Nice news, it seems the number of bitcoin ATM will grow faster, now there are 2658 locations of bitcoin ATM in USA and countries such as Canada, Austria and UK also has hundreds locations of bitcoin ATM. bitcoin adoption still growing more companies will accept bitcoin.

Unblock_news

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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

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