Country with 3.5 million population having its first Bitcoin ATM is good. It is a country that is much spoken for its low corruption, increased export business and e-governance. Maybe this could be an initial step for them to get into bitcoin adoption. In particular it is surprising to see both the companies that installed the ATM were 100% funded by the government
Uruguay reportedly installs its first Bitcoin ATM
Topic: Uruguay installs its first Bitcoin ATM - page 4. (Read 659 times)
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.
I am always happy to see the developments and before any crypto-currency ATM can be installed in any. Country that means the government is in support of it, so am glad the government are slowing accepting Bitcoin, I would hope to see this type of development in my country, but my government is still stiff necked in that regards. 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.
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.
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.
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.
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.
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. Maybe some kind of scanned barcode. Because after all, this will certainly be a little different when we withdraw or deposit money into a bank account via an ATM.Great news, another big win for the crypto community indeed. A major concern for me is that scammers may take advantage and focus attention on the new and naive crypto community that will spring up in Uruguay. I mean with the installation of these ATM's, some can easily be swindled into depositing cash and transferring to unknown address.
I'm not sure how that would happen specifically concerning ATM usage. However, people getting scammed using cryptocurrency is only probably slightly more probable than that with fiat, that's simply because its a little more confusing, and is a relatively new technology to most people. This should get better with increased adoption, which things like ATMs will encourage. Despite all that, I am very happy when this adoption was made so that the people of Uruguay, especially those in the area around the city of Punta del Este, make crypto users more friendly with crypto transactions outside of exchanges that use a fairly new alternative.
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.
Great news, another big win for the crypto community indeed. A major concern for me is that scammers may take advantage and focus attention on the new and naive crypto community that will spring up in Uruguay. I mean with the installation of these ATM's, some can easily be swindled into depositing cash and transferring to unknown address.
I'm not sure how that would happen specifically concerning ATM usage. However, people getting scammed using cryptocurrency is only probably slightly more probable than that with fiat, that's simply because its a little more confusing, and is a relatively new technology to most people. This should get better with increased adoption, which things like ATMs will encourage. 
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, another big win for the crypto community indeed. A major concern for me is that scammers may take advantage and focus attention on the new and naive crypto community that will spring up in Uruguay. I mean with the installation of these ATM's, some can easily be swindled into depositing cash and transferring to unknown address. 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.
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.
Source: https://cointelegraph.com/news/uruguay-reportedly-installs-its-first-bitcoin-atm
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.
Source: https://cointelegraph.com/news/uruguay-reportedly-installs-its-first-bitcoin-atm
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