Bitcoin Will Be Available At ATMs Worldwide

One of the leading manufacturers of ATMs also wants to sell Bitcoin via its devices in Europe and America.

Maybe you have already heard of the company Hyosung. It´s one the the worlds leading manufacturers of ATM´s with it´s headquarter in South Korea. Hyosung will make the digital currency bitcoin available at its devices in Europe. As the magazine Cointelegraph reports, South Koreans have been buying and selling bitcoins on their devices for 3 years now by using a special app. Now the company wants to establish the service in Europe and America as well. Is this the reason why Bitcoin is rising and unstoppable in the last couple of days?

"In the coming weeks, Hyosung plans to fully integrate the Bitcoin service into its internationally distributed models, which will be shipped to Europe and the US", wrote Cointelegraph.

Benefits of Bitcoin supporting ATMs

Since 2016, most leading Bitcoin markets and their authorities have pressured Bitcoin exchanges and trading platforms to enforce strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to crackdown on illicit use cases of Bitcoin and other cryptocurrencies such as Ethereum and Litecoin.Consequently, the process of account verification and updating daily or monthly limits of Bitcoin trading accounts has become significantly challenging. On most exchanges users are required to spend at least a few weeks to submit necessary documents including personal verification (IDs or passports), bank documents, and even conduct a face-to-face interview for maximum monthly limit upgrades.For large-scale traders and investors it is worthwhile to go through such a rigorous verification process to create trading accounts. For beginner users and casual investors however, Bitcoin ATMs are significantly simpler to use to buy and sell small amounts of Bitcoin.Currently, major Bitcoin brokerages and exchanges such as Coinbase and Gemini are focusing on providing support for institutional and retail investors. Cointelegraph recently reported that Coinbase launched Coinbase Custody, a Bitcoin custodian platform for institutional investors planning to invest a minimum amount of $10 bln in Bitcoin.A handful of companies including Coins.ph of the Philippines, the largest Bitcoin brokerage in Asia with nearly 3 million active users, are working to provide services for general consumers and small-scale Bitcoin investors.In the long-term, the integration of Bitcoin into hundreds of thousands of bank ATMs globally would further increase the mainstream adoption of Bitcoin. - Cointelegraph

This is going to be a big change for the mainstream world. Bitcoin is getting more popular than ever but we are the ones who joined and believed from the start. I remember when my brother went to Czech Republic this year and told me he found ATM´s where you could cash out or buy Bitcoin. I was a little shocked because I never thought that Czech Republic would be joining the crypto world before countries such as Germany, France, Spain etc. Hyosung is making a big change and we will see how long other ATM manufacturers need to integrate Bitcoin to their machines.

Hyosung has worked in collaboration with Bitcoin service providers within the South Korean crypto currency industry. For example Tim Draper-backed Coinplug. People in South Korea have the opportunity to buy and sell Bitcoins on tens of thousands of ATM´s located at nearly every convenience store and subway station. The procedure is quite easy by using the Coinplug mobile app.

As seen in the photograph below

The efforts of Coinplug and Hyosung to transform many of the existing bank ATMs in South Korea to Bitcoin-supporting ATMs have led to an increase in mainstream adoption of Bitcoin.