Making ATM Bitcoin Payments via Lightning Network Is Becoming a Reality

bitcoin atm

Developer and researcher Felix Weis successfully executed, as a proof-of-concept, the world’s first ATM Bitcoin transaction on the Lightning Network. World’s First Lightning-enabled Bitcoin ATM ‘Worked Fine’ On March 31, 2019, Weis publicly demonstrated a transaction via Lightning Network at a bitcoin ATM, during the Lightning Hackday, in Hong Kong, as shown in the video below. Rockstar @FelixWeis buying bitcoin via Lightning at an ATM. #LightningHackdayHK at @bitworkasia pic.twitter.com/VmsK2GSaB2 — Bitcoin Association (@bitcoinorghk) March 31,

The post Making ATM Bitcoin Payments via Lightning Network Is Becoming a Reality appeared first on Bitcoinist.com.

Cryptocurrency ATM Market Projected to Moon by 2024

bitcoin atm

According to a new report titled “Crypto ATM Market – Forecasts from 2019 to 2024,” the global market for cryptocurrency automated teller machines (ATMs) is expected to explode at a compound annual growth rate (CAGR) of 46.61 percent — reaching $183.779 million USD by 2024.  Last year, the global cryptocurrency ATM market sat at $18.503 million USD, according to the report. This booming growth is expected to be led by the increasing popularity of cryptocurrencies

The post Cryptocurrency ATM Market Projected to Moon by 2024 appeared first on Bitcoinist.com.

Dubai’s First Bitcoin ATM Removed After Just 2 Days

dubai bitcoin atm

Earlier this week, we reported that the first Bitcoin ATM in Dubai had arrived. Like many Bitcoin ATMs, you couldn’t make withdrawals–but you could buy bitcoin with cash, and no ID or KYC. Two days later, that machine has been removed. First Bitcoin ATM in Dubai Lasted Less Than a Week Just as Bitcoin ATMs are gaining traction around the world, this week seemed like a giant leap forward for the UAE. However, the operational

The post Dubai’s First Bitcoin ATM Removed After Just 2 Days appeared first on Bitcoinist.com.

Philippines’ Central Bank Helps Launch Bitcoin ATM

One of the largest banks in the Philippines, Union Bank, has collaborated with the country’s central bank to launch a Bitcoin ATM, allowing customers to both buy and sell bitcoin for cash. Union Bank Launches Its First Bitcoin ATM Union Bank in the Philippines has launched its very first two-way Bitcoin ATM, according to a release. The machine, puportedly located at the bank’s headquarters in Pasig City, allows customers to purchase and sell cryptocurrencies using fiat.

The post Philippines’ Central Bank Helps Launch Bitcoin ATM appeared first on Bitcoinist.com.

NY Regulators Issue BitLicense to Company With 88 Bitcoin ATMs

new york bitlicense Bitcoin ATM

The New York State Department of Financial Services (NYDFS) has granted yet another Virtual Currency License (BitLicense) to one more NY-based bitcoin ATM company. Cottonwood Vending Gets the Green Light In a tweet on the official page of the NYDFS, the regulator announced that it has granted a BitLicense to Cottonwood Vending LLC, a Bitcoin ATM company in New York. DFS Grants Virtual Currency License to Cottonwood Vending LLC, Continues to Advance Responsible Innovation in

The post NY Regulators Issue BitLicense to Company With 88 Bitcoin ATMs appeared first on Bitcoinist.com.

Venezuela’s New Interim President is Anti-Petro and Pro-Bitcoin

Venezuela

The U.S. now recognizes opposition leader Juan Guaidó as the leader of Venezuela. He took a public oath to swear himself in as the interim president of Venezuela on January 23, 2019. Guaidó is familiar with cryptocurrency technologies and has been promoting Bitcoin since at least 2014. Venezuela’s Interim President a Fan of Bitcoin Because of the severe economic crisis afflicting Venezuela for several years, Bitcoin has been used as a safe-haven asset, allowing many

The post Venezuela’s New Interim President is Anti-Petro and Pro-Bitcoin appeared first on Bitcoinist.com.

Coinstar KYC Hurdles Are Hurting Bitcoin User Experience

hurdles

Coinstar’s initiative to support buying bitcoin at 20,000 locations in the US is facing mixed reviews days after it launched as users complain about high costs and poor performance. AML/KYC Overload Coinme, the Bitcoin ATM operator which began offering purchases in 2014, teamed up with change counter Coinstar last week to let customers purchase bitcoin for cash using the same apparatus. As user experiences began surfacing on social media, however, not all appeared to be

The post Coinstar KYC Hurdles Are Hurting Bitcoin User Experience appeared first on Bitcoinist.com.

Australian Bitcoin ATM Startup Says Its Raking in $360,000 Per Week

bitcoin atm

A Bitcoin ATM company from Australia has reported a weekly turnover of $500,000 AUD (roughly $360,000 USD) despite the cryptocurrency bear market.  $360,000 Weekly Turnaround Auscoin, an Australian bitcoin ATM company, has reported a weekly turnaround of $360,000 in 2018. According to the reports, it’s currently operating 31 ATMs throughout Australia but it’s planning to expand. Speaking on the matter, Sam Karagiozis, founder at Auscoin, said: We currently have 31 Auscoin ATMs in Australia… and

The post Australian Bitcoin ATM Startup Says Its Raking in $360,000 Per Week appeared first on Bitcoinist.com.

Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports

Venezuela, the country seeing new Bitcoin trade volume records on an almost weekly basis, is to get its first ever Bitcoin ATM. Cryptobuyer: ATM Already In Caracas In an interview with local radio and news media network Union Radio, Jorge Farias, CEO of Panama-based Cryptobuyer, said the machine had already arrived in the country’s capital Caracas. “We are going to install the first cryptocurrency ATM in Venezuela over the course of the next two weeks,”

The post Venezuela: First Bitcoin ATM Opens ‘In 2 Weeks’ Amid Localbitcoins Shutdown Reports appeared first on Bitcoinist.com.

Argentina Gets 7 New Bitcoin ATMs For Christmas

Argentina Bitcoin ATMs

Argentina ends the year on a Bitcoin high, as Athena Bitcoin Argentina rolls out seven Bitcoin ATMs (BATMs) with more to come. This now makes it the country with the fourth highest number of BATMs in Latin America. Argentina Getting More Bitcoin ATMs Before 2018, Argentina was faring rather badly in terms of BATM numbers, with only two in the whole country. Both of these were in the capital, Buenos Aries, although one was a very

The post Argentina Gets 7 New Bitcoin ATMs For Christmas appeared first on Bitcoinist.com.

First Bitcoin ATM Installed in ECB’s Own Backyard

ECB

Germany has just got its second Bitcoin ATM in Frankfurt, home of the European Central Bank, as the total worldwide machine count hits 4000 for the first time. Bitcoin ATM Arrives in Frankfurt As local media reported November 23, Bitcoin-Store Frankfurt in Germany’s financial center and home of the European Central Bank (ECB) is now home to one of only two BTMs currently operational in the country. Under the auspices of founder Oliver Pangratz, Bitcoin-Store

The post First Bitcoin ATM Installed in ECB’s Own Backyard appeared first on Bitcoinist.com.

Bitcoin ATMs Have Spread to 4,000 Locations Globally

Numerous signs of maturity can be noted across the cryptocurrency industry. A growing number of Bitcoin ATMs is making their mark on the world. This month, the number is expected to surpass the 4,000 milestone. Another Milestone for Bitcoin ATMs Making cryptocurrency more accessible remains a key priority. Bitcoin ATMs have their role to play in this regard. These machines make it easier to buy bitcoin and altcoins with fiat currencies. Nearly 4,000 of these

The post Bitcoin ATMs Have Spread to 4,000 Locations Globally appeared first on Bitcoinist.com.

Germany Gets First Bitcoin ATM In Years (But How Long Will it Stay?)

Bitcoin Germany

Germany has received its first ever legally-sanctioned Bitcoin ATM (BTM) following a landmark legal ruling — but its longevity is already in doubt. Munich Machine Hangs On Court Ruling As t3n.de first reported October 30, the owner of a casino in Munich opted to import a BTM from Austria after a German court ruled cryptocurrency dealing was not subject to mandatory licensing. Previously, those wishing to conduct business involving BTMs, as an example, had to

The post Germany Gets First Bitcoin ATM In Years (But How Long Will it Stay?) appeared first on Bitcoinist.com.

UnoCoin Founder Arrested For Operating India’s First Bitcoin ATM

India police

Police in Bengaluru, India recently arrested UnoCoin cofounder Harish BV for “illegally” operating a Bitcoin ATM in the city barely a week after it was installed.  ‘Not Taken Any Permission from the State Gov’t’ According to The News Minutes, Bengaluru’s Cyber Crime Police unit brought forward a case against Unocoin for illegally installing a BTC ATM without any permission. A part of the statement given by the unit to the press reads: The ATM kiosk installed

The post UnoCoin Founder Arrested For Operating India’s First Bitcoin ATM appeared first on Bitcoinist.com.

Over 100,000 ATMs Now Let You Buy Bitcoin With a Debit Card in the U.S.

Debit card Bitcoin purchase via regular ATMs are now a reality in the United States. This development foregrounds the recent partnership between Genmega and LibertyX. The collaboration allows people to buy Bitcoin from numerous cash machines using their debit cards. Buy Bitcoin Using Debit Cards Via ATM According to a press release published by Finextra on Monday, October 15, 2018, all Genmega ATMs in the country are now essentially Bitcoin ATMs. Based on the partnership, Genmega ATMs

The post Over 100,000 ATMs Now Let You Buy Bitcoin With a Debit Card in the U.S. appeared first on Bitcoinist.com.

$50,000 Lost to Bitcoin ATM Scam in Australia

Cryptocurrency ATMs

Scammers conned $50,000 out of regular Australians using a blatantly obvious fake tax debt fraud. Multiple victims have been lured into paying off non-existent debt through Bitcoin ATMs. A Time-Tested Scam Scammers have managed to con upwards of $50,000 from Australian citizens, luring them in to pay off a non-existent debt in a classic fraud. At least four victims from eastern Melbourne have fallen for the trick, local news media reports. Purportedly, the scammers would

The post $50,000 Lost to Bitcoin ATM Scam in Australia appeared first on Bitcoinist.com.

$50,000 Lost to Bitcoin ATM Scam in Australia

Cryptocurrency ATMs

Scammers conned $50,000 out of regular Australians using a blatantly obvious fake tax debt fraud. Multiple victims have been lured into paying off non-existent debt through Bitcoin ATMs. A Time-Tested Scam Scammers have managed to con upwards of $50,000 from Australian citizens, luring them in to pay off a non-existent debt in a classic fraud. At least four victims from eastern Melbourne have fallen for the trick, local news media reports. Purportedly, the scammers would

The post $50,000 Lost to Bitcoin ATM Scam in Australia appeared first on Bitcoinist.com.

Bitcoin ATMs Spring up Across Utah… ish

Bitcoin ATMs Spring up Across Utah... ish

The latest US state to see an influx of bitcoin automatic teller machines (or BTMs) is Utah. According to Salt Lake City media outlet, KSL, they “are popping up all over Utah” All Over Utah As seen on this map, eleven of the twelve BTMs in Utah lie pretty close to state capital Salt Lake City. In fairness, this area is a contiguous chain of the six largest cities in the state, known as the Wasatch

The post Bitcoin ATMs Spring up Across Utah… ish appeared first on Bitcoinist.com.

Lamassu Unveils New Line of Bitcoin, Cryptocurrency ATMs

On September 24th, Lamassu announced the introduction of their new line of cryptocurrency ATMs to the public. Lamassu calls its new line of ATMs, “Sintra.” The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.  Growing Industry According to CoinATMrader.com, there are currently roughly 3,750 crypto ATMs installed worldwide. Lamassu has been producing cryptocurrency ATMs since 2013 when they produced their first, which was called

The post Lamassu Unveils New Line of Bitcoin, Cryptocurrency ATMs appeared first on Bitcoinist.com.

In Argentina, Investors Flock to Safe-Haven Bitcoin

The economic crisis in Argentina is driving investors to buy Bitcoin in order to protect their wealth, pushing the cryptocurrency’s price higher in-turn. In parallel, to satisfy the increasing demand, the first of 12 Bitcoin ATMs has already begun to operate in a Buenos Aires mall. The number of stores accepting Bitcoin also continues to rise. Bitcoin Is a Safe-Haven During an Economic Crisis As the country’s currency plunges, Argentinian investors and ordinary people are exchanging

The post In Argentina, Investors Flock to Safe-Haven Bitcoin appeared first on Bitcoinist.com.