Topic: Vietnamese Exchange BitcoinVN Is Seeking Investors For 12 New Bitcoin ATMs - page 2. (Read 2136 times)

Hey!

Sorry for the delayed response, but we are not overly active on Bitcointalk - usually easier to reach us via our common customer support channels (Twitter or Facebook work well too). 

As for your comment & question:

The whole COVID situation certainly also impacted our business (some of our locations in the F&B sector went out of business and we had to find new hosts; also the borders in Vietnam remain locked which means no tourists in the country which are one of our main customer groups), but overall we have been able to hold steady and prepare for time when borders open again & the whole economy starts picking up again more (plus of course... - being ready for the next bull run which in due time).

As for the investment round: This round indeed had been closed, but we might have more opportunities coming up - so feel free to get in touch with us anyway. Within our group we also regularly conduct other investments more or less closely related to Bitcoin/Vietnam, so depending on your aims there might potentially also be other options coming up which might be of interest to you.

This is an interesting project with future potential.  Vietnam and other Eastern countries are a good ground for crypto investments, so I think there's scope for this ATM related project. Can I ask whether you still raising capital and if there's a limit to the investment?

Thanks,
Rex

New interview with Rob Rankin of Big Pig BBQ - our most recent addition to our location line-up:




---> https://news.bitcoinvn.io/interview-rob-rankin-big-pig-bbq-utit-vn/?lang=en

Updated user manual  :


https://btm.bitcoinvn.io/faq/troubleshooting

Overview of the current location line-up:

One door closes, another opens, it would appear!

I do remember discussing with you some time back about the BATM that was installed at Schiphol -- by the time I actually went to check it out, it had been long uninstalled -- in fact, it wasn't even in any directory there, nor did any of the Info desks know about it, but the BBQ location for yours at least should get more eyes on it.

Very cool pic =)

congratulations,
the new location is quite where a BTM should be placed.
cashing out BTC on arrival is now an even more easy task on the way into town...  

Some might have seen it already, but we haven't been lazy during the lockdown and worked to obtain another location right next to Ho-Chi-Minh-City's Tan Son Nhat Airport 





Source: https://news.bitcoinvn.io/first-bitcoin-atm-in-tan-binh-saigon-placed/?lang=en

The lease of our location host (Italianis) was up - and since that specific location lived on about 50% tourists (of which there are none right now and possibly months to come) it has been probably a prudent decision not to go into a bidding war with Mobile World (which will move in there now).

So yeah, COVID certainly caused an impact there - but the Italianis folks are smart & hard-working, so probably the right move to step back from that location and focus on their other location(s) for now 

Hey guys, you know I like catching up with you every now and then, good to see stuff is opening up again, though a bit of a shame with that license expiring. Was that intentional because of COVID-19 or did someone just forget to renew stuff? A lot of closures in my part of the planet too, including some really old brands I grew up with, so it really feels like the end of an era in a literal sense for brands. Hope you pick up on BATM activity once this blows over.

Currently there is no active fundraising round since the whole Corona Situation slowed down the rollout of the last batch we received in late December (plus see above: Some locations closing / relocating which forces us to relocate the machines as well ). The 2019 batch had been fully allocated to investors.

However, as things now open up again you might want to follow us on the channels mentioned above by carlfebz2 since there might be more opportunities in the future

Why you wouldnt just tend to contact them on those mediums written on op?

https://www.facebook.com/BitcoinATMHCMC
https://twitter.com/BitcoinATMHCMC
https://t.me/BitcoinATMVietnamUpdates
https://btm.bitcoinvn.io

Good luck and Dyor even more..

Quite interested in this.


As a ex community member, I would possibly be interested . could you give more info ?

Unfortunately May started off with not-so-good news for our BTM department as we were informed that our oldest & longest-running location partner of Italianis lost their lease for their Ly Tu Trong location after almost 4 years.



Source: https://twitter.com/BitcoinATMHCMC/status/1257081222125154304

Our remaining location are unaffected from this change and we will update as soon as new locations become available. 

Some good news here - the city of HCMC is starting to open up again from today on and with that our locations are gradually coming out of their limited "Corona schedule" back to normal opening hours.



More positive news in the coming days. 

In the meanwhile one of our host locations also got a (favourable) review by the local Bitcoin Community in Saigon (not really about our BTM's, but if you are interested to hear about the state of the F&B industry could be interesting  ):

oh sure, i am just spinning some ideas, some NFC chip solution maybe could work as well.


sure, but you thought about it as well after reading so many news about recycling or even destroying "infected" banknotes or putting them in quarantine i was wondering about other solutions. i am sure this issue would have to be addressed worldwide, and the company with the best solution could maybe be in for a nice reward in the industry.

Well, in the case of "BTM 3.0" - wouldn't an app suffice for that?  

As long as physical cash is around (and it certainly has its use cases), you can't avoid physical machines like the one's we run.

It is a niche service which probably most users in our location won't need since they might have other solutions in place to on-/offramp Crypto.

But if you are unbanked and/or just need some quick cash or generally value your privacy... - there is a whole range of reasons why a BTM can be a valuable service.

And in a 10-12m people city even such a "niche market" is already an interesting one.  

Sanitizing bank notes:

Not yet!

We are at the moment extra careful to only put fresh bank notes straight from the bank into the machines when we refill, but ultimately the end user also has to take its own precautions.

For now remodeling the whole machine to run them through an UV light before spitting them out is beyond our capabilities / cost-prohibitive for us.

But it is certainly an interesting idea and we're happy to adopt it should the BTM manufacturers provide such a service from their side.  

Very interesting to read your experience. Unfortunately, for many businesses in crypto, not just in your sector, people seem to have very skewed expectations. Like most businesses, it's a lot of hard work, patience and well, luck. I've not had very much success in my own ventures, but I recognise that those who do succeed are patient enough to experiment and try, learning as much as possible from different methods.

It's also non-formulaic, different geography, different economic class, demographics are so, so important to me. But I'm really curious if there were any proper attempt to study and assess the performance of all these BATMs globally. Every report out there is simply about growth, and no real insight into usage. Perhaps we'll touch base about this down the road.

Thanks for your time!

i wonder what we could come up with to avoid that the BTM users have to touch the machine at any point?

who knows how long the usage of physical cash would be normal?

maybe soon we will carry only digital fiat on our wallets to go shopping and use it on a BTM 3.0 as well to pay contactless for cryptocurrencies like bitcoin... ?

have you looked into methods of sanitizing bank notes e.g. with special UV lamps?

Thank you.

Yes, many "about-to-be"-BTM-operators severely underestimate the amount of time/effort/nerves; problem solving skills & technical knowledge, business negotiation skills (e.g. working with location partners) and resources for customer service it takes to run these machines.

And that is all before we even talking about marketing/SEO; liquidity management; regulatory requirements and many other areas come in...

Many newcomers think they buy a machine; throw it into a corner and plug it in... - and then it's printing them money consistently every month.

And the companies selling you those machines have of course an incentive to induce such an image into your mind to sell more machines 

The reality is unfortunately not even close to this.

Our team also had a learning curve to take back from 2016 onwards when we installed the first machine here in Ho Chi Minh City; for the first 2-3 years we certainly also did not operate on the level we are operating now and it was more of a sideplay for the owners of our mother company BitcoinVN.

However, earlier last year the decision was made to put more experienced and skilled human resources behind this project and build it out as a proper department within the entire company - and the results of these changes have been very encouraging and resulted ultimately in a much better experience and service level for our customers, a massively reduced downtime and last but not least a multiplication of business revenue.