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Bitcoin Atms To By-pass Crypto-currency Exchanges | Itweb

Bitcoin Atms To By-pass Crypto-currency Exchanges | Itweb

Bitcoin ATMs to by-pass crypto-currency exchanges According to Coin ATM Radar, there are over 3 000 Bitcoin ATMs globally. Bitcoin ATMs will enable users to by-pass the flourishing crypto-currency exchanges in the South African market. This is according to industry players and analysts after Israeli-based Bitcoin ATM maker, Virtual Crypto Technologies, this week entered an exclusive distribution agreement with third-party company, Virtual Crypto SA, to begin selling Virtual Crypto's products in the Southern African region. Virtual Crypto is a developer of software and hardware for crypto-currency via point-of-sale systems, ATMs, tablets, PCs and mobile devices. In June, Virtual Crypto unveiled its NetoBit ATM, a bi-directional platform that enables users to sell Bitcoin in contrast with most Bitcoin ATM platforms, which only allow the purchase of the digital currency. The company claims NetoBit ATM is the world's first and only ATM that allows real-time conversion, purchase and sale of Bitcoin. The product, which already supports most common currencies, is available for purchase globally. NetoBit ATM is the second product in Virtual Crypto's NetoBit software and hardware products portfolio. In April 2018, the company launched its first product, NetoBit Pay, a retail point-of-sale device that enables businesses to receive payments in Bitcoin in real-time. According to Coin ATM Radar , there are over 3 000 Bitcoin ATMs globally. In SA, a Johannesburg-based Spar outlet in May unveiled a crypto-currency ATM. The machine originally launched in SA in 2014 to offer Bitcoin purchases. It allows users to purchase digital currencies like Bitcoin, Litecoin and Ethereum with the South African rand. Virtual Crypto recently completed development of its fourth crypto solution for the Continue reading >>

June 13: First Bitcoin Atm In Africa Arrives Friday

June 13: First Bitcoin Atm In Africa Arrives Friday

June 13: First Bitcoin ATM in Africa Arrives Friday First Bitcoin ATM in Africa was headed for Johannesburg and would be installed by months end. We reported in May that the first Bitcoin ATM in Africa was headed for Johannesburg and would be installed by months end. Well, things got held up, and the time frame had to move back two weeks or so. However, the purchasers of that particular Lamassu machine announced Wednesday that the ATM had landed in South Africa and was waiting to clear customs: Bitcoin ATM has landed in Kempton Park South Africa, from Germany. Thanks UPS, got the job done. Waiting for customs. @zabitcoinatm The Economist has picked up the story as well, although that publication framed the development more as a question of Bitcoins current ability to reach the millions of unbanked Africans and revolutionize the US$50-billion-a-year African remittances industry: Bitcoins remittance pioneers face the same anti-money-laundering and cash security issues that drive ordinary transfer fees so high. Then theres the unknown of local governments' reactions to such little-regulated exchanges. According to Marcus Swanepoel, owner of the regional BitX exchange, the most immediate opportunity may be Bitcoins facilitation of cardless e-commerce. ATMs ease the casual consumers access to small sums for use online and off. It may be some time before Bitcoin ATMs and similar innovations reach the unbanked. But they have come a step closer to entering the formal economy. The remittances market and reaching the unbanked are big fish to fry, as we have covered on more than one occasion. For now, lets just celebrate that as of Friday every continent actually settled by people will have a Bitcoin ATM. Continue reading >>

South Africa To Receive Its First Cryptocurrency Atm

South Africa To Receive Its First Cryptocurrency Atm

South Africa to Receive Its First Cryptocurrency ATM Rebecca Campbell May 15, 2018 3:00 pm South Africa is the receive its first cryptocurrency ATM by the end of this week, highlighting the increasing interest the market is experiencing in the country. The ATM, which will be installed atNorthwold Spar in Johannesburg, will be able to process a number of digital currency tokens such as bitcoin and ethereum, reports Business Report . According to George Neophytou, General Manager of the Northwold Spar, many people have been wondering how they can get access to cryptocurrencies, adding: Lots of people in South Africa are also in the cryptocurrency space and lots of South Africans are watching it. However, not all individuals have access to it. Neophytou, who has been involved in the digital currency space for some time, hopes that this cryptocurrency ATM will bring about the change needed, giving those who dont have access to a bank account access to different digital currencies. To get involved users will scan their cryptocurrency wallet where they can buy digital currency that then gets transferred into their hot wallet. The ATM will be set to a limit ofR50 at a time. Due to the interest that is being seen in South Africa, this will be the first cryptocurrency ATM trial inJohannesburg. Depending on how well it goesNeophytou added that they will roll out more ATMs in the future. News of this comes at a time when Zimbabwes central bank has taken steps to ban local banks from trading or processing transactions linked to cryptocurrencies. However, it hasnt banned local cryptocurrency exchanges, according to Reuters . Yesterday it was reported that theReserve Bank of Zimbabwe Governor John Mangudya said: The Reserve Bank has directed all banking institutions not to provide b Continue reading >>

Sas First Bitcoin Atm Finally Launches!

Sas First Bitcoin Atm Finally Launches!

Not sure whether this will be the right place to post this. How about a sub thread for 'Crypto currencies'? Its bound to become more and more relevant in years to come. Johannesburg's Bitcoin community received a boost with the launch of what is likely the first Bitcoin ATM on the African continent. The machine was set to launch in May, but was apparently delayed until now. The machine was officially open for business last Friday at 9 am local time. Unfortunately, the Lamassu machine has the capability of accepting cash in exchange for Bitcoin, but not the other way around. One of the strongest arguments in favour of Bitcoin in Africa is the idea of remittance. As the documentary film Bitcoin in Uganda outlined, those who live and work abroad and wish to send money to their families back home face exorbitant money transfer fees. Some companies will charge up to 40% of the amount transferred. However, with Bitcoin, the transfer fees are not only built into the protocol, they're incredibly low in comparison. On top of this, they require no intermediary to perform. One only needs to be able to transfer their bitcoins into local currency, which Bitcoin ATMs can provide. Unfortunately, though, the Lamassu machines are incapable of such transactions. Lamassu did, however, recently release an open-source version of their software which they claim will make it easier for Lamassu operators to get into the remittance market. Regardless, though, the launch of South Africa's first Bitcoin ATM is a welcome addition to Johannesburg's Bitcoin community. The machine, operated by ZABitcoinATM, is located at Metroman spa, at Cnr Pitts Ave & Dytchley Rd. Continue reading >>

Bitcoin Atms And Where To Find Them - Coin Brief

Bitcoin Atms And Where To Find Them - Coin Brief

Last updated on January 2nd, 2018 at 12:00 am Its been less than seven months since the first Bitcoin ATM launched in a small coffee shop in Vancouver, and during that time several companies have stepped up to provide more machines for the coin-hungry masses. There are now dozens of ATMs set up around the world that can convert fiat to Bitcoin or vice versa, with more coming soon. Lets take a look at just 6 locations that are receiving brand new machines: While speculation and controversy continue to complicate Bitcoins official status in China, entrepreneurs are moving full speed ahead with plans to increase adoption. Hong Kong, one of the most densely populated areas in the world, is now home to the HK Bitcoin ATM Store located inside the Chic Shopping Mall in the Mong Kok district. After its grand opening on May 18, the HK Bitcoin ATM Store is now open 24 hours and provides people with a way to buy digital currency, learn about fiat inflation, and even send Bitcoin tips to a robot that will dance in exchange for payment. Americas neighbor to the north is proving to be fertile ground for Bitcoin ATMs, and the largest city of the Saskatchewan province now has its first machine that dispenses the digital currency. Launched in early May by startup company Bitcoin Solutions, the ATM was manufactured by Ottawa-based BitAccess and now resides inside the Calories Restaurant on Broadway Avenue. The machine in Saskatoon is just the latest step in Bitcoin Solutions ambitious plan to bring several Bitcoin ATMs to cities across Western Canada. The third most populous city in the Land Down Under is now host to a Bit2Bit-manufactured Bitcoin ATM. The machine is located in Roastery Cafe on Glenelg Street, and launched fairly recently on May 16. Naturally it allows the withdrawal an Continue reading >>

First Bitcoin Atm Hits South Africa

First Bitcoin Atm Hits South Africa

August 21, 2014 Nicolise Harding Articles , Interviews , News & Events , Opinions The first Bitcoin ATM has hit the streets of Johannesburg. Rolf Deppe and business partner, Monre Botes, are the geniuses who decided to run the LamassuBitcoin vending machinefromthe new Metroman salon situated in Kyalami, Midrand. This willbe the nextstep to tweak the interests of all hipstersfor a face to face experience of Bitcoin currencies. We had a chat with Rolf, who together with Monre runs their business Tremendis Learning , about his future plans and venture into Bitcoin: How did you come across the idea for the Bitcoin ATM and why in JHB first? My business partner and I, Monre Botes were watching the Bitcoin ATMs sprout up all over the world, with a noticeable lack in Africa. By middle of February we decided to simply try it, ordered a Lamassu, and the rest is history. The location in JHB was chosen specifically as we live there, and we do need to get to grips with the new technology and setup, so having it close by was more suitable. How receptive is the JHB community towards Bitcoin? There is some interest, but I dont think close to what the interest is in Cape Town and Stellenbosch at the moment. Obviously, we would like to also drive the adoption in Jhb. What work challenge keeps you up at night? What are the biggest benefits and largest risks of doing business with Bitcoin? Obviously the possible growth and upside of Bitcoin is there. It is really in its infancy still, probably like the internet was in say, 1992? So if Bitcoin takes off like some expect it to, then the upside would be tremendous. The growth in usage and perceived value has been substantial in the last 5 years, eclipsing pretty much any investment known to man. The risks well obviously there is concern that Continue reading >>

Upscale Johannesburg Barbershop To House Africas First Bitcoin Atm

Upscale Johannesburg Barbershop To House Africas First Bitcoin Atm

Posted by Steve Shanafelt at May 21, 2014 in News Comments Off on Upscale Johannesburg barbershop to house Africas first bitcoin ATM Image source: As bitcoin ATMs begin to pop up in major cities across the globe, one entire continent is still untouched: Africa. If ZABitcoinATMs plans pan out, however, this should be changing later this month. The companys Lamassu-made ATM is scheduled to arrive in Johannesburg, South Africa, by the end of the week, and will be set up at bitcoin-accepting upscale barbershop Metroman in the Kyalami area. IF ZABitcoins move is successful, additional ATMs may soon sprout up in other locations across the country, and perhaps even other regions in Africa. South Africa is relatively wealthy and cosmopolitan by comparison to many of its neighbors, and the launch of the countrys first bitcoin ATM in an upscale shop in major metropolitan area doesnt exactly signal the beginning of the much anticipated push to bring bitcoin into the economically disenfranchised, unbanked population in the continents poorer regions. That said, it is a start. As weve noted previously, Africas population faces some of the highest remittance fees in the world . A report published earlier this year by the Overseas Development Institute (ODI) found that Western Union was charging as average fees of 12% to send $200 to locations in Africa, and characterized the fees as a super-tax on Africans sending money home. While the ZABitcoinATM project isnt intended to reach that market, it might just create a foothold for bitcoin on the continent, allowing bitcoin use to grow. Continue reading >>

Johannesburg Welcomes Very First Cryptocurrency Atm

Johannesburg Welcomes Very First Cryptocurrency Atm

Johannesburg welcomes very first cryptocurrency ATM South Africas first cryptocurrency ATM, able to process Dash, Ethereum, Bitcoin and others, will open at Northwold Spar in Johannesburg. Users will be able to buy cryptocurrencies at the ATM, and exchange cash for cryptocurrencies without a bank account. A cryptocurrency ATM costs anything between around R100,000 to R170,000. The most common way of gettingBitcoincryptocurrency is to trade at an exchange. The latter requires you to make an EFT, which can take a few days to complete, and requires you to manually match bids on the exchange. Cryptocurrency ATM being installed at the Northwold Spar in Johannesburg Another option is trading your cold hard cash for Bitcoin. This is done using a Bitcoin ATM likeLamassus machine recently launched in Johannesburg, South Africa the first of its kind in the country. To use the machine, youll need a Bitcoin wallet on your smartphone. The Bitcoin ATM then scans your wallets unique QR code, takes the cash youve inserted, and finally you have yourself some cryptocurrency in a matter of seconds. There are an estimated 3,000 Bitcoin ATMs globally in 68 countries, including Zimbabwe and Djibouti in East Africa. These are exciting times for the digital currency in South Africa. Just a few weeks ago PayFast partnered with the local exchange, BitX, to add a Bitcoin payment optionto more than 30 000 online shops, including one of the countrys largest commerce sites, Takealot. Continue reading >>

Johannesburg Gets A New Crypto Atm, Ban Threatened Harare May Lose One

Johannesburg Gets A New Crypto Atm, Ban Threatened Harare May Lose One

Johannesburg Gets a New Crypto ATM, Ban Threatened Harare May Lose One A new crypto teller machine is now operational in South Africas largest city, Johannesburg. The ATM, which supports several digital coins, has been installed at a supermarket in the north-western part of the citys metro area. It is the latest addition to a growing number of terminals offering automated crypto-fiat exchange services in the country and across the continent. Not all is rosy in the region, however. A crypto ban in neighboring Zimbabwe may deprive Harare of its bitcoin ATM. Nevertheless, crypto teller services are spreading in Africa. Multicurrency ATM Installed in a South African Supermarket The Republic of South Africa, the continents economic powerhouse, and neighboring Zimbabwe, one of Africas most troubled nations, have at least one thing in common the growing interest in cryptocurrencies, although under different circumstances. In recent years, both countries have been experiencing their own versions of crypto development. The process has led to improved access to the crypto ecosphere but now their paths may diverge again. A South African outlet reported this week that the nation has got its first cryptocurrency ATM in its largest city. The teller machine has been installed at a store in Northwold, part of one of the biggest retail chains in the country Spar. The automated terminal is a multicurrency device, according to Business Insider South Africa. Customers can buy bitcoin (BTC), ethereum (ETH) and litecoin (LTC) with fiat cash. Unfortunately, it supports one-way transactions, which means only purchases of cryptocurrency are available. Of course, the first is almost always a doubtful label. Unsurprisingly, right after the report came out, the breaking news information was corre Continue reading >>

Bitcoin Atm Comes To South Africa

Bitcoin Atm Comes To South Africa

Residents ofJohannesburg, South Africa will have the ability to purchase bitcoin with cash come this weekend, with the launch of one of Africas (if notthe first) bitcoin ATMs. As you may be aware, the continent of Africa is severely underbanked (with an estimated 135 million people not banked at all), and many in the bitcoin community have argued that bitcoins presencein Africa could very well have a positive impact on the population. The machine is manufactured by Lamassu, and will serve as more of a vending machine than an ATM in that bitcoin-to-cash functionality is not included. [ot-video type=youtube url=The device will be accessible toJohannesburg locals at theMetroman Mens Salon, which is just adjacent to theKyalami Grand Prix Circuit race track. The device can be used any time after 9 AM local time. Lamassus business operation continues to grow with a network of over 250 machines sold inits first year of operation. These machines are operating in 45 different countries, amazingly enough. Lamassu has recently spiced up their offerings by recently releasing open source software to the operating network of machines , which will allow developers to build custom apps for the platform. In addition, the company also released a stand for their product in the past few months which will enable two-way functionality . That is, allowing consumers to both buy and sell bitcoin. Source : Continue reading >>

Africa To Receive Its First Bitcoin Atm

Africa To Receive Its First Bitcoin Atm

Join our community of 10 000 traders on Hacked.com for just $39 per month. Bitcoin ATMs (Automated Teller Machines) have been popping up all over the world. Hong Kong , Australia , Dubai , and America , among other places, have operating Bitcoin ATMs. These ATMs have only become widespread in the past few months and are a very new and incomplete technology. Now, theyre coming to Africa. [dropcap size=small]B[/dropcap]itcoins first ATM in the vast continent of Africa is expected to be opened to the public in late May. The ATM will be owned by ZABitcoinATM . The first ATM will come to Johannesburg, South Africa. A second one, which will come a month after the first, will be installed in Cape Town, South Africa. The announcement of the ATM came from ZABitcoinATM on Twitter: We are bringing the first Bitcoin ATM into Africa! To be located in Sandton, Johannesburg, South Africa. ETA end of May 2014. @ZABitconiATM , 16 May 2014 A more in-depth description of the ATMs was posted on Bitcoin Talk , a Bitcoin discussion forum, by zabitcoinatm. The ATM will be the popular Lamassu Bitcoin ATM machine. Lamassu boasts, No Banks. No Forms. No Wait. Fiat to Bitcoin in fifteen seconds. Lamassu ATMs are currently $6,500 if you buy 1-9 machines, or $5,500 for ten or more. Caleb Chen, a fellow writer at CryptoCoinsNews, had a first-hand experience of using a Bitcoin ATM. He described the delay of using one and explained the process. After you wait in the possibly lengthy line at the ATM for your turn, you must go through multiple steps to verify your identity. As described by Chen, New users of the Robocoin ATM need to submit a telephone number for activation and notifications, government ID, palm scan, and current photo via the ATMs webcam. After submission, the application is reviewed a Continue reading >>

Bitcoin Atm Installed In Johannesburg Was Infact The First

Bitcoin Atm Installed In Johannesburg Was Infact The First

Bitcoin ATM Installed in Johannesburg Was Infact The First At the beginning of the week, we have read several articles about the latest Bitcoin ATM installed in South Africa. My Broadband originally reported that it was not the first ATM in Johannesburg or another South African city. The reality is that this is the same ATM which has been installed in 2014, but it has been re-deployed by the same company. Vendibit, a leading company in the crypto ATM sector, has re-deployed the first bitcoin ATM in the South African country. The company announced that it has re-installed a crypto ATM at Northwold Junction Shopping Centre in Randburg, outside Johannesburg. South Africans have been very interested in the virtual currency market. Indeed, individuals remained updated on the latest news in the cryptocurrency world. According to google trends, South Africa registered the highest interest for Bitcoin all over the world, even more than countries like Japan, South Korea or the United States. We were able to contact Daniel Cappiello, in charge of the installment of the Bitcoin ATM. Mr. Cappiello is Vendibits senior consultant and founder of Copencoin, a Danish enterprise which is located in Denmark and provides Bitcoin ATMs to the market. The rapid spread of blockchain technology and Vendibit VTM machines are proof that the public is demanding access to the future, today. Most people are becoming familiar of blockchain and cryptocurrencies thanks to names like Bitcoin, Litecoin, and Ethereum. With the new ATMs people will be able to buy Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH) with cash or a smartphone. As this is the first ATM in South Africa it is expected to be profitable and provide access to the market to several individuals. The VTM machines allow customers to buy Continue reading >>

Sa's First Cryptocurrency Atm Comes To Joburg

Sa's First Cryptocurrency Atm Comes To Joburg

SA's first cryptocurrency ATM comes to Joburg Economy /15 May 2018, 10:40am/Zeenat Vallie A Bitcoin ATM is seen in Hong Kong, Friday, May 11, 2018. Bitcoin is the world's most popular virtual currency. (AP Photo/Kin Cheung) CAPE TOWN - South Africas first cryptocurrency ATM will be installed at Northwold Spar in Johannesburg by the end of this week. The ATM which was imported from Portugal will be able to process various forms of cryptocurrency tokens including Ethereum and Bitcoin. According to General Manager of Northwold Spar, George Neophytou who has been in the cryptocurrency space for a long time, many people wonder how they can get their hands on cryptocurrency. Lots of people in South Africa are also in the cryptocurrency space and lots of South Africans are watching it. However, not all individuals have access to it, said Neophytou. This ATM hopes to change that and make cryptocurrency accessible to individuals who do not have a bank account. Neophytou said that individuals simply have to scan their cryptocurrency wallet and purchase cryptocurrency which will then be transferred into their hot wallet. When asked where individuals can open a hot wallet, the manager and cryptocurrency enthusiast said that there are several reputable companies such as Luno and Wirex. We decided to launch a trial at Spar and if it goes well then we will roll out more ATMs, said Neophytou. He added that the ATM has a set limit of R50 so users can transfer a minimum of R50 at a time. Although this new venture is exciting, Neophytou warned that individuals should do their research and be aware and understand what they can get and also what they can afford to lose. Continue reading >>

Cryptocurrency Atms Coming To Sa

Cryptocurrency Atms Coming To Sa

South Africa is due to get its first cryptocurrency ATM this week, despite the countrys lack of knowledge about it among the population. But the businessperson behind the ATM hopes to expose more people to the world of digital currencies and give them an opportunity to add some bitcoin, dash, etherium, or others to their digital wallets. According to Northwold Spar general manager George Neophytou, the biggest problem with cryptocurrency adoption in South Africa is that people do not have enough knowledge about it. There are still only 1 200 businesses in the country who accept it. Neophytou, however, was optimistic about the new venture, which is being installed at the Northwold Spar in Johannesburg. Neophytou said: There are currently seven machines on their way and two in the country right now. With this new ATM machine, I am giving more people a chance to come and transfer some money, put it into their wallet and become part of the new generation. With about 3 000 bitcoin ATMs globally, Neophytou also noted the importance of gaining more knowledge about cryptocurrencies. The big problem with cryptocurrency is that people cant see it. Its something that is in the air. When one tries to explain to somebody that you have R10 worth of bitcoin on your cellphone, they only see their physical R10 as more valuable, he said. Neophytou added the new ATM machine served as a platform for people to see cryptocurrency as part of their reality. Its just like anything on the stock exchange. It goes up and it goes down. Cryptocurrency is the financial decision that everybody has to make on their own and its a personal decision, he said. Economist Dawie Roodt was excited about the project, saying South Africans were ahead of the curve with cryptocurrency. Continue reading >>

Cryptocurrency Atm To Open In Joburg

Cryptocurrency Atm To Open In Joburg

Users of the unregulated currency will soon be able to buy cryptocurrencies and exchange it for cash at the country's only cryptocurrency automated teller machine. Users will be able to buy or exchange cash for cryptocurrencies without a bank account at the ATM. The first ATM of its kind to be installed in three years is set to open at the Northwold Spar in Johannesburg before Sunday. The shop's general manager George Neophytou says he hopes this will bring the currency into the mainstream. Neophytou says the installation of the ATM is only the first step as he plans to have stores also accept cryptocurrencies as a method of payment. The shop will take steps to prevent fraud and money laundering since the currency is not regulated by any organisation or government. The Hawks confirmed in March that they are investigating a Bitcoin scam potentially involving thousands of victims. "Everything is above board, everything is legal to the best of our knowledge, and we are trying to comply with everything - we are not doing this to get anyone in trouble." Content hosted by iono.fm Medics in Durban are being hailed as heroes for rescuing a newborn baby ... Continue reading >>

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