Bitcoin could soon reach more than one million potential users. Hyosung, is one of the biggest ATM manufacturers in Asia and is going to offer Bitcoin in its ATM’s. The company had already implemented support for Bitcoin in South Korea and now it integrates the virtual currency internationally.
What Does it Mean for Bitcoin?
Having thousands of ATM’s around the world that allow users to buy Bitcoin is great news for this cryptocurrency. At the moment, South Korea is one of the most important trading hubs in the world. Its currency is the third most traded for Bitcoin in the world after the Japanese Yen and the US Dollar.
Hyosung allowed South Korean’s to be able to buy Bitcoin. They were exposed to this “new” currency that allows people to transact freely all over the world. With the new ATM’s located everywhere in different countries, people will have the possibility to buy or sell Bitcoin in different convenient places. This will increase the liquidity of the virtual currency in the whole globe and will bring new users that will, for sure, pressure the Bitcoin price up.
Most of the European countries and the United States will have these new ATM models produced by Hyosung.
Bitcoin, Easier and Closer to Everyone
Most of the experienced users know that there are different possibilities to buy Bitcoin and other cryptocurrencies online. Trading platforms appear to be everywhere, but they do have some limits. These online exchanges tend to have several restrictions to the maximum amount of money that an investor can use. That limitation and policy of ‘know your customer’ (KYC) bring big limitations to the general public that wants to trade or buy big sums of Bitcoin.
ATM’s allow small customers to buy, as many times as desired, Bitcoin and other cryptocurrencies. This keeps the user far away from KYC policy and governmental controls.
Other Countries Installed Several ATM’s
Argentina, Australia and Europe have seen an increasing number of Bitcoin ATMs. In Argentina, Odyssey Group, an American-Argentinian enterprise, planned to launch 200 Bitcoin ATMs in order to respond to the “world monetary order changing”.
In the United Kingdom and Europe, the BTM operator Bitlish, wants to deploy more than 5,000 Bitcoin ATMs across Europe before 2018.
In Australia, there were plans to launch 500 Bitcoin machines that would allow users to buy and sell Bitcoins freely.