Topic: Uruguay installs its first Bitcoin ATM - page 2. (Read 659 times)

That’s really nice and I’m quite surprised that the two platforms that you have mentioned are being controlled and funded by the Uruguay government. I thought that the two platforms were going to be private owned platforms, but it being funded by the government now shows that their government is fully in support of cryptocurrency.

It wouldn’t be like other countries where anyone who is making use of crypto currency would be having issues with the government, rather the people in this country would feel free to use cryptocurrency to any extent without having any issues at all or worrying about having any possible issues with the government. I am also looking forward to other countries adopting cryptocurrency to this level, and I’m very aware of El Salvador that has adopted Bitcoin as a legal tender.

Good news? Erm..I guess? I mean, when I see all these government-controlled crypto transactions I kinda get sad because it seems to defet the purpose of crypto itself (well, at least BTC), but I am also aware that crypto will not be able to move forward if a cohesion like that does not happen. I mean, it can bring about good things as, even if the people have a distrust of government's, they tend to trust things that are government-based more than the ones that are not. If that makes sense.

Are you sure that they are controlled and funded by the government?
I’ve read on a few delimited sources that the project is funded by the government, but not the companies themselves (see (1) and in Spanish (2)). I’d say that they got funding for and I+D project from the government, but that’s it.


On another note, it seems that some politicians made a quick rush to ask the Ministry of Economy and Finance and the Central Bank of Uruguay if the ATM is legally regulated in the country (see 3). I figure we’ll hear some new at some point on the matter, which hopefully won’t jeopardize the plans to deploy further crypto ATMs within the country.
 
See:
(1) https://voi.id/en/amp/124701/following-in-the-footsteps-of-other-latin-countries-uruguay-installs-the-first-bitcoin-atm-in-punta-del-este

(2) https://es.blogtienao.com/uruguay-duoc-bao-cao-cai-dat-may-atm-bitcoin-dau-tien-cua-ho/

(3) https://www-elobservador-com-uy.translate.goog/nota/diputado-de-cabildo-abierto-pidio-informes-al-bcu-y-mef-por-cajero-de-criptomonedas-en-punta-del-este--202211018242?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp

Note: You may want to consider including your source to the information in the OP.

A big win indeed for Uruguay in having it's first Bitcoin ATM. Since 2018, crypto ATMs have been growing around the world despite the ups and downs of Bitcoin and other cryptocurrencies worldwide. Here in the Philippines, we only have one government-regulated and approved crypto ATM in UnionBank and I have visited it myself. Hopefully there will be more to come in other crypto friendly countries.

The numbers are adoption increasing rapidly .I think they are very smart and try to adapt with the next digital world .Btc is really a great asset for us and the world are are turning into it .I think Uruguay's govt has made the right decision on early times .They are definitely ahead on the upcoming days and technology .I am really upset about Asian countries ,Why they are still ignoring it .I don't have any idea but i am really expecting to get few positive news on upcoming days .However really i am feeling happy to get a good news once again hope we will get more news on upcoming days .

It's a great news that finally, another country has been opening its perspective in terms of cryptocurrency. After the initiative of small countries such as El Salvador, the different countries has been slowly welcoming bitcoin in their place as well. Indeed, little steps could still possibly create ripple effect that would be beneficial in our community. Bitcoin ATM isn't really a fresh and new thing that has been discovered and implemented in some areas because in some parts in U.S. it has already been installed. If I'm not mistaken, over 10,000 of bitcoin ATM has been established in different parts of America and is widely used by the crypto users.

However, in small countries and developing countries such as Uruguay, this is definitely a thing to celebrate for. This is another win and achievement of our community because little by little, we are becoming known in various parts of the world, even to the uprising ones.  This would benefit the citizens of Uruguay that are into bitcoin because they can instantly deposit and withdraw their funds with the help of the machine that will be installed to their place. I just hope that they will place these machines in areas that are safe guarded and with trusted security because there were incidents reported back then that some bitcoin ATMs were stolen or broken. Nonetheless, cheers to the baby steps and I hope this will spread further.

From everything that can be seen, it seems that the interest in the first crypto ATM in Uruguay was very high and it is a bit unbelievable that it is only the first such device in the country. Owners can be more than happy with the success and continue to expand, and I hope that people will still invest much more in Bitcoin than in other coins/tokens.

That is the same issue we are having in my country, the government has been against cryptocurrency for quite some time now. People who are caught making use of cryptocurrency, their bank accounts are being closed immediately. Although I don’t think there is any other punishment that you would face apart from your bank account being closed. And before now, I once saw a news of a Bitcoin ATM that was launched in my country, but since then I have not heard of it again.

Moreover, nobody would be making use of it by now, since all the exchanges has been banned, and no operation of cryptocurrency business is allowed any longer in the country. We are hoping that the government lifts the ban anytime soon.

this is very good news where one by one countries are starting to adopt.bitcoin and even they have.created several bitcoin ATMs.for transactions.by miners who adopt.bitcoin in that country of course this will have a good impact on the survival of bitcoin in the future because currently bitcoin is in dire.need of adoption.from developing countries for the process.of bitcoin survival where the price that has fallen.so low against.bitcoin at this time of course can at least help with the existence.of several countries adopting.bitcoin

this will be more historical if they are doing this because of Bitcoin literally and not because they wanted to lure people inside their own currency .

Like DdmrDdmr shared this is something a plan for long term and yes all of us will benefit from this for long term .
 Uruguay will maybe the next country to make crypto or bitcoin in good relation  .

This have a point but the word is not easy since using it as a means of payment is that it is easy to pay but the fees is the problem but this will be overcome soon or in the future since this would be used all over the world. Tho the installation of bitcoin atm is the first step in mass adoption of bitcoin

First of all El Salvador is in Central America and its growth of ATMs is post adoption, its ATMs are a consequence of the legalization of bitcoin as legal currency.

On the other hand Colombia and Brazil add up to 60 ATMs, which if we see per capita is really little, ATMs should be a right to access crypto assets, as is the right to fiat money via ATMs, but the legal jurisdiction always separates us from that and then at least in these parts when we see 1, it's like seeing a unicorn.

Yes, confirmed, I also read this good news in several big media. One of them is right here:
https://news.bitcoin.com/first-cryptocurrency-atm-reportedly-installed-in-uruguay/
This installation of Bitcoin ATM is done to create more trust in the crypto market. Moreover, so far, the people there still prefer to use the P2P system in order to trade or cash out their Bitcoin.

Btw, I also have found the installation of this Bitcoin ATM and detected in coin ATM finder
https://www.coinatmfinder.com/bitcoin-atm-location/ELDA/4268/Punto-Bitnovo

Hopefully, with the growth of the crypto market and ATM, this will also lead the positive trends again toward cryptocurrency and ease all activities to crypto.

The plan is to deploy quite a few of these crypto ATMs all over Uruguay, although the videos I’ve seen so far do not detail these plans further than stating a close term objective of one ATM per Department (there are 19 in Uruguay). They allow for people to buy/sell BTC, BNB, as well as their tokens (Urribit, Ferret) according to the article listed below, but the video also shows trading in BUSD. They also state that they will further expand on the offer of crypto.

It’s interesting to see the video in the Spanish below provided source (the video seems to not work in the Google Translated version), and to watch how people literally flock to the ATM to get their chance to see or interact with it. There was a catch though: On a video I found where they interviewed one of the company representatives for the event, the person running the broadcast show unveiled that the assistants could get away with 5$ in cryptocurrencies (that could have a bit to do with crowd). I haven’t managed to cross-reference this particular elsewhere though.

Cryptocurrencies are not regulated in Uruguay (they are not prohibited either really, and can be interchanged or used in private deals), therefore banks cannot be used as steppingstones to transact with Exchanges.

See:
(In English) https://www-subrayado-com-uy.translate.goog/se-inauguro-el-primer-cajero-criptomonedas-uruguay-n827464?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=es&_x_tr_pto=wapp
(In Spanish) https://www.subrayado.com.uy/se-inauguro-el-primer-cajero-criptomonedas-uruguay-n827464
(In Spanish) https://twitter.com/i/status/1479834954754400265
(In Spanish) https://youtu.be/bRVl-WEYYkA

with the existence of a bitcoin ATM in uruguay hopefully it will increase the pressure to recognize bitcoin as a legal tender there. I see countries in South America have started to open up to Bitcoin, it's clear that they want to be at the forefront, just look at El Salvador still holding on by recognizing bitcoin as a legal tender there, hopefully Uruguay and surrounding countries will follow el salvador.

Just stumbled upon this "Spanish article" that claims it had more than 1k transactions within the span of a few hours + it seems that they're going to expand it to other locations as well:

• Quote from: Lucius on January 17, 2022, 05:10:28 AM
  Entering an address manually is something that should not exist as an option, it is simply too complicated and the chances of error are high. I don't remember ever reading or hearing that there are such crypto ATMs, maybe some early models had that concept, but with smartphones and QR codes I don't see why anyone would type in an address manually.
  
  You're right ^{[it's not worth the trouble]}... The ones I've used didn't have that option ^{[even though they seemed to be from the previous generations]} but half of the videos I've seen on YouTube, had that option!
  
  
  Quote from: bitterguy28 on January 17, 2022, 05:47:04 AM
  but of  course for me this is  still something that bitcoin supporter must be celebrated .
  
  "All publicity is good publicity"

Good news. This was expected due to the recent trend where small, developing countries have been embracing BTC and other popular cryptocurrencies for various reasons.

We need more countries with bigger populations to utilise these ATMs since this would allow more people to have access to them basically.

However, I don't really think many crypto investors would use these ATMs considering the fees, great alternatives etc in any country, but it does help promote crypto adoption which is all that matters at the end of the day in my opinion.

In fact , i don't think it will be that easy to use cryptocurrencies in a large scale population for daily use. It should take a long time before reaching the global adoption in Uruguay.
Note also that Uruguay is not a big country in term of population and even hasn't that status in the global economy, people around the world may not even take attention of it.
I have also thought about ordinary people dealing with different altcoins. it's quite different from bitcoin as a main currency worldwide while altcoins should always be converted to btc in order to cash them out .

This is Very good news that They (Uruguay) are installing Crypto ATM machine. I Think this is the great historical things.Uruguay have many crypto user like 50+ thousands crypto user.I think they will be enjoy  by Crypto (Bitcoin)  ATM.Crypto ATM machine increase day by day.I Think now good for Uruguay and local.

This news has spread all over the world, my country is also being stirred up by installing a Bitcoin ATM machine in Uruguay, I saw the news yesterday, they say this is the best history experienced by crypto users in Uruguay, with around 50 thousand crypto users, they thank Urubit and Inbierto.

There are many questions my government has to answer, whether to follow Uruguay, as they did, but all that will be answered as time goes by, we'll see later, do we also have 1-3 crypto ATMs.

Yes, we are also happy to hear this news, hopefully crypto users in Uruguay, can enjoy the ATM Bitcoin.