Uruguay installs its first Bitcoin ATM - page 3.

boyptc

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Quote from: aoluain on January 16, 2022, 06:22:50 PM

Quote from: boyptc on January 16, 2022, 02:43:40 PM

Good news and position if it's a tourist spot.

There will be tourist that would try to withdraw their crypto and exchange it with fiat there when there are no other ATMs that they can use. Or at least, they want to spend it for their vacation and trip.

I think the strategy of placing it there is good and hopefully that the fee would be lesser than the usual ATM that charges 3% and up for some of those that I've seen.

Location, location, location, the same as property the position is key. I ever
I come across a Bitcoin ATM I would definitely use it just for the experience,
I'm sure there will be people who will use this especially as it's in a prominent place.

In the grand scheme of things 1 ATM is very small but its all plus regardless of
quantity or size

Yes.

Most of us are wanting to try it just for the experience especially if we know the fees are quite that high. But for the tourists, if they don't have funds in cash and they want to spend their crypto holdings then that's a good reason to experience it.

Well, just as that they have 1 ATM, that's a good start. It can multiply soon and there will be more in different locations and will include even those places that are not tourist spots.

bitterguy28

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Quote from: SFR10 on January 16, 2022, 04:58:55 PM

By the look of things, the main motivation or rather goal behind that particular automated teller machine is nothing but a way to promote their own cryptocurrency ^{[basically, they're using BTCitcoin's name to their advantage]}!

This sounds desperation from their Part that they need to mislead things just to promote their own cryptocurrency but on the other hand yet they are Using Bitcoin in which favoring in the crypto market because still another country that welcoming cryptocurrency specially bitcoin.
so yes they are promoting both Bitcoin and their own cryptocurrency

Quote

(URUBit is a decentralized token created in Uruguay and deployed in the Binance Smart Chain (BSC).)

but of course for me this is still something that bitcoin supporter must be celebrated .

Lucius

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Quote from: SFR10 on January 16, 2022, 04:58:55 PM

Depending on the model of the BTM, you might have different options:

Manually enter your address
Scan a QR code
Use a generated paper wallet by the BTM

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.

The fact that the total number of crypto ATMs in South America is only about 80 or only 0.2% of the total is pretty bad news, and as you can read from the news, the companies that set up this ATM used it to offer their tokens.

Ziskinberg

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Quote from: worle1bm on January 17, 2022, 01:26:09 AM

Good to see that more and more countries are seeing bitcoin growth and I have seen the number of ATM rising is at very high pace especially in America and Canada.But now small nations are also on the same path of installing more ATM's and this shows some clear sign of demand and usage among the normal people.Now more countries will go on the same way adopting it.

The intense demand for crypto ATMs is rising indefinitely. This is the result of the sudden growth of crypto users and having ATM is another venture that Bitcoins do and it gives convenience to the public. I suppose to see the government will have their full support and control the illegal ATMs installed as this will ruin everything. If this will able to sustain, we can expect the growing number of crypto ATMs in a different country. And this will encourage more people to get involved in this technology and do appreciate it.

worle1bm

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Good to see that more and more countries are seeing bitcoin growth and I have seen the number of ATM rising is at very high pace especially in America and Canada.But now small nations are also on the same path of installing more ATM's and this shows some clear sign of demand and usage among the normal people.Now more countries will go on the same way adopting it.

so98nn

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Nice to hear that. Very jealous that why my country is on its back foot in accepting such tech man. I just wanna go someday out there and withdraw my money by exchanging the bitcoins without hesitation. Here I am today, trying p2p's, exchangers and what not to release the bitcoin with fear of loosing them. I mean fear of getting exchanger hacked, loosing p2p trade due to fraud peeps and what not.

ATM is like blessings. That is the thing which connects you to the virtual world of bitcoin. I am not sure who else imagine this way but its the only way you can 99% touch your bitcoins as you are trading it with something real value (fiat) and using it for commercial purposes.

Good for the Uruguay and their locals. Hope they will use it and will ask for more machines in the territory.

franky1

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Quote from: hyudien on January 16, 2022, 02:21:02 PM

Quote from: Welsh on January 16, 2022, 01:51:14 PM

I've never really looked into the ATMs in enough depth, but when withdrawing Bitcoin i.e putting in cash, and wanting to receive Bitcoin. How does it handle address generation or are you required to input the address yourself, which just sounds a little risky due to the complexity of Bitcoin addresses.

That's what makes us a little hampered about how to implement deposits at ATM with paper money and then enter the bitcoin address to be converted into a personal wallet. It would be very useful if there is someone who can show how the process goes until the bitcoins arrive in his wallet.

not all bitcoin ATM's are the same. but generally most work by where you use your own cellphone wallet app (you choose) and you simply pull up your QR code on your screen and show it to the ATM scammer/camera.

it then displays this on screen so you can check it read the QR code right. and then you put your cash into the machine when you type in how much coin you want.

link to one video. and time starts at the demo when people do have their own cell phone bitcoin wallet
this is not the urubit ATM, its a general example of a bitcoin ATM
https://youtu.be/EfyzeTmo3gg?t=96
you can rewind to see the version which prints out a private key on a receipt if you dont have a wallet

DapanasFruit

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Quote from: wtsimis on January 16, 2022, 12:35:59 PM

The two companies are controlled and funded by the government of Uruguay.

So this is a government-approved operation, I would say. And in this case, we can conclude that there is a big future of cryptocurrency in the country of Uruguay. And this is another big good news that can be pregnant with so many possibilities in this South American nation. The way am seeing is that 2022 can be the year when cryptocurrency adoption can be accelerating in different areas and locations of South America...and this is partly buoyed by the move of El Salvador last year.

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Quote from: famososMuertos on January 16, 2022, 02:27:07 PM

Well, in reality, ATMs have a very strong impact on the sector where they are located, so to call it promoting at the state or country level is really exaggerated, in fact there are many ATMs in various parts of the world that have not been registered and what they are looking for is to capture users and the adoption is worth "eggs".

It is not that it is being negative, but come on, the news is what it is, it excites the bitcoin niche and adds to its corresponding measure.

I don't know where your source is from, but at least coinatmradar doesn't record anything in Uruguay. Zero, at least it's not registered yet.

In South America these are the data:
Colombia: 38
Brazil: 22
Argentina: 11
Chile: 3
Peru: 3
Venezuela: 1
Ecuador: 1
Uruguay: 0 (*)
Bolivia: 0
Paraguay: 0
Source:https://coinatmradar.com/countries/
(*) OP, 1.

El Salvador has 205. Columbia and Brazil have a ton but we don't hear them so much on the news about the adoption in the country. Only just recently did we hear of a City Del Rio's Mayor buying BTC out of the City's fund.

Quote from: Fundamentals Of on January 16, 2022, 08:24:45 PM

This is another good news regarding Bitcoin adoption. But I am wondering why there have to be FRT and URUB? I am curious to know the objectives of these government-funded and controlled altcoins. Do they have to exist? If there was an intention to support the ideas behind Bitcoin, then there was no reason whatsoever to create alternative coins which are under companies that are not only funded by the government but also controlled by it.

Like the existence of altcoins, controlled altcoins exist to grab the BTC of the users who buy altcoins. They claim to have a specific purpose though and some prefer to buy those altcoins, some of these altcoins are even available in the ATMs like doge.

Fundamentals Of

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This is another good news regarding Bitcoin adoption. But I am wondering why there have to be FRT and URUB? I am curious to know the objectives of these government-funded and controlled altcoins. Do they have to exist? If there was an intention to support the ideas behind Bitcoin, then there was no reason whatsoever to create alternative coins which are under companies that are not only funded by the government but also controlled by it.

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Quote from: coupable on January 16, 2022, 06:34:13 PM

Great news. And the greatest parts are that the whole project is funded by the government of Uruguay and that those ATMs can be used with different cryptocurrencies even i am not that enthusiast with altcoins.

That makes it great and we know if the government involve, they will do anything they could to promote it in a positive way so that lots of people will gonna use it. They can easily partner with private companies to boost their funds to further expand their investment and that would be great for both Uruguay and the crypto industry. The time when almost all of the countries are hostile about bitcoins is finally over and the we are seeing right now is the beginning of it's new era where everyone will become use to it and it will mainly start in the South American countries.

nullama

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If anyone is actually interested in going to this ATM, it's located inside a store called Smart Point, at Juan Gorlero 29, 20100 Punta del Este, Departamento de Maldonado, Uruguay.

Lat/Long: -34.9593864, -54.9409259

coupable

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Quote from: wtsimis on January 16, 2022, 12:35:59 PM

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

Great news. And the greatest parts are that the whole project is funded by the government of Uruguay and that those ATMs can be used with different cryptocurrencies even i am not that enthusiast with altcoins.
To be honest, i wasn't expect Uruguay to make this giant step. However, i wish it not to be a political move for popularism so i will be waiting for reactions from major economic influencers in/out of Uruguay. Till now, it's not clear why the Uruguay government took this decision and if it really has the needed infrastructure for such a big development.

aoluain

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Quote from: boyptc on January 16, 2022, 02:43:40 PM

Good news and position if it's a tourist spot.

There will be tourist that would try to withdraw their crypto and exchange it with fiat there when there are no other ATMs that they can use. Or at least, they want to spend it for their vacation and trip.

I think the strategy of placing it there is good and hopefully that the fee would be lesser than the usual ATM that charges 3% and up for some of those that I've seen.

Location, location, location, the same as property the position is key. I ever
I come across a Bitcoin ATM I would definitely use it just for the experience,
I'm sure there will be people who will use this especially as it's in a prominent place.

In the grand scheme of things 1 ATM is very small but its all plus regardless of
quantity or size

sheenshane

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Quote from: Tellek Garing on January 16, 2022, 04:33:11 PM

Quote from: Vaskiy on January 16, 2022, 04:03:30 PM

e-governance.
Uruguay reportedly installs its first Bitcoin ATM

E-governance is not too familiar with this term and will like you to please share more light on how e-governance works and what country is practicing this type of government around the world, I know Bitcoin ATM is a good development that will make Bitcoin more accessible to it end-users with the help of pos and ATMs.

It's good news on Bitcoin and the community that the adoption becomes widely operated through these ATM machines.
We hope that all countries are the same open-minded when it comes to cryptocurrency or adopting Bitcoin which e-governance will benefit more from embracing this new technology.

Coinatmradar shows a rapidly increasing number of Bitcoin ATM machines worldwide and it seems a good sign that Bitcoin has the potential to become more expensive after for how many years and it could be the price of $100k is possible to achieve which the most anticipated moment for most holders.

24Kt

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Quote from: Slow death on January 16, 2022, 04:17:17 PM

according to the OP these two companies responsible for the ATM are government companies which makes the ATM government, that means that the private sector is not interested in this business of bitcoin ATM, anyway I would like to know what is the demand that has had the bitcoin ATM that has been installed. I don't usually hear that uruguay buys a lot of bitcoins, in fact I never heard

At this early stage, I don't think we will hear from them how they are performing in terms of attracting crypto users in their country. Usually, it will take time before they will see good number of adoption. But if the machine is already there, for sure, people will get curious and try the machine how it works. They have their own coin also, so they may try to see how those will work for them as it is government-backed projects. Their government should promote or incentivize their people using their coin or at least something to promote this initiative.

Desmong

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Quote from: wtsimis on January 16, 2022, 12:35:59 PM

Recently, Uruguay’s first crypto ATM was installed in the city of Punta del Este, a major tourist city in Uruguay, and become the 11th South American country to publicly promote crypto adoption.
Two local cryptocurrency corporations are developed and installed the first crypto ATM in the country. (URUBit and inBierto). The ATM mainly supports deposits and withdrawal of BTC, BNB BUSD, FRT, URUB. URUB and FRT are managed and developed by URUBit and inBierto. The two companies are controlled and funded by the government of Uruguay.

This is impressive and I'm very surprised the way some countries are adopting cryptocurrency make the Crypto market to keep increasing drastically in size and market cap. I am still expecting more countries like the Asians and Africans to follow the adoption to make the world a better place where digital currencies would be the order of the day.

SFR10

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By the look of things, the main motivation or rather goal behind that particular automated teller machine is nothing but a way to promote their own cryptocurrency ^{[basically, they're using BTCitcoin's name to their advantage]}!

Quote from: Welsh on January 16, 2022, 01:51:14 PM

I've never really looked into the ATMs in enough depth, but when withdrawing Bitcoin i.e putting in cash, and wanting to receive Bitcoin. How does it handle address generation or are you required to input the address yourself, which just sounds a little risky due to the complexity of Bitcoin addresses.

Depending on the model of the BTM, you might have different options:

Manually enter your address
Scan a QR code
Use a generated paper wallet by the BTM

Tellek Garing

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Quote from: Vaskiy on January 16, 2022, 04:03:30 PM

e-governance.
Uruguay reportedly installs its first Bitcoin ATM

E-governance is not too familiar with this term and will like you to please share more light on how e-governance works and what country is practicing this type of government around the world, I know Bitcoin ATM is a good development that will make Bitcoin more accessible to it end-users with the help of pos and ATMs.

Slow death

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according to the OP these two companies responsible for the ATM are government companies which makes the ATM government, that means that the private sector is not interested in this business of bitcoin ATM, anyway I would like to know what is the demand that has had the bitcoin ATM that has been installed. I don't usually hear that uruguay buys a lot of bitcoins, in fact I never heard

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