Tagbitcoin atm

Multi-Million Bitcoin ATM Scheme Exposes Holes in EU's Money Laundering Net

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Bitcoin ATMs, bitcoin, AML

Spain’s Guardia Civil (Civil Guard) police unit has indicated that current rules in Europe are inadequate with regards to discouraging the use of Bitcoin ATMs to launder money. According to Bloomberg, this deficiency results from the fact that the owners of the Bitcoin ATMs are not required by the strict AML regulations to vet users of the cryptocurrency vending machines. This has come to the...

Texas Bitcoin ATM Maker Coinsource Eyes Stablecoin & Remittances

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Coinsource

Texas-based Bitcoin ATM maker Coinsource is adding a stablecoin to the mix. The company is expanding to include the Dai stablecoin in its machines, according to a report in Reuters.  Coinsource is also reportedly gearing up to launch a remittance service, and Dai should shield users from the volatility that's inherent in the cryptocurrency market. Dai is a decentralized stablecoin that's built on...

Six Years Later, the Number of Bitcoin ATMs Just Crossed 5,000 Globally

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Bitcoin ATM, bitcoin

Nearly six years after the first Bitcoin ATM was installed in Vancouver, Canada the number of the cryptocurrency-dispensing machines across the world has risen to 5,006, according to Coin ATM Radar. In the last 60 days, an average of just under 6 Bitcoin ATMs were installed per day. Has the US bitcoin ATM market reached saturation point? Unsurprisingly, the U.S. leads in the number of crypto...

Bitcoin ATM Pioneer Vancouver Could Ban City's 76 Crypto Vending Machines

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Bitcoin ATM, Vancouver, Bitcoin

By CCN: Despite being the first location in the world to have a Bitcoin ATM, Vancouver’s authorities are turning against the vending machines. According to The Star, Bitcoin ATMs are under mayoral assault after a surge in criminal activities being conducted through the devices. Per the publication, Vancouver’s Mayor Kennedy Stewart suggested during a recent council meeting that banning the...

Authorities Dismantle $10 Million Crypto Money-Laundering Ring in Spain

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bitcoin crime, bitcoin ATM

By CCN: A crypto money-laundering ring that was offering its services to other criminal enterprises has been dismantled in Spain. The Crime as a Service operation is believed to have laundered approximately $10.08 million (€9 million) using bitcoin and other cryptocurrencies. Guardia Civil (Spanish Civil Guard) arrested eight people in connection with the crime while charging eight more for...

Bitcoin ATM Firm 'Auscoin' a Front for International Drug Smuggling Ring: Australian Police

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Bitcoin, Bitcoin ATM, Auscoin

By CCN.com: As bitcoin entrepreneurs who founded the fast-growing Auscoin Bitcoin ATM business in Australia, there was nothing suspicious about Steen McBeth and Sam Karagiozis leading a flashy lifestyle including driving Lamborghinis and BMW motorcycles. Australian police, however, now allege that the duo’s cryptocurrency business was just a front for an international drug-dealing operation. The...

Dubai Scores Cash for Crypto with the City's First Bitcoin ATM

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Bitcoin ATM Dubai crypto

Dubai, the most populous city of the United Arab Emirates, has just received its maiden bitcoin ATM, giving locals and tourists alike the opportunity to purchase cryptocurrency. It's kind of a big deal, considering that Dubai is a city whose locals have a taste for luxury and which boasts landmarks such as one of the world's largest shopping malls and the world's tallest building. The bitcoin...

Bitcoin ATM Double-Spenders: Police Need Help Identifying Four Criminals

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CBC reports that four Canadian men are wanted in connection with conducting double-spend attacks against Bitcoin ATMs in four cities. A total of 112 transactions are alleged to have taken place in September last year, with half of them taking place in Calgary. The other attacks took place in Winnipeg, Toronto, Montreal, Sherwood Park, Ottawa and Hamilton. The men’s identities are unknown, and...

Piece of Cake: Cryptocurrency ATM Stolen in Bakery Break-In

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Bitcoin ATM, Shutterstock

By CCN.com: Crypto thieves have shown that theft can sometimes be a piece of cake. Taking the phrase “get the dough” to the next level, a cryptocurrency ATM machine was audaciously jacked from a bakery in California last week. The theft took place at the Belwood Bakery in Brentwood Village, Los Angeles, and is the latest in a string of robbery attempts on the establishment. Cryptocurrency ATM...

Bitcoin Network Loses Nodes and Difficulty, Militants Use Crypto In Struggle to Secede, NYU Professor Goes Off The Rails, and More: Last Week In Crypto

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Bitcoin Price Recovery Alongside Network Changes The Bitcoin price came back from the brink this week, reaching nearly $4,000 by Sunday. Analysts were at times throughout the week worried that it would lose support around $3,400 and then drop beneath $3,000, but this hasn’t happened. At the same time, however, two important Bitcoin network metrics saw reduced performance over the week. For one...

Coinsource Receives First BitLicense to Operate Bitcoin ATMs in New York

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bitcoin atm coinsource

The world’s largest bitcoin ATM company has finally received official approval to operate in New York. They had previously been operating in New York almost since the company’s inception via a provisional license. Last year, they received coverage in the New Yorker and have frequently been in the news with word of new ATMs across the country. Coinsource is creeping toward 200 machines, the...

Unocoin Rolls Back First Crypto ATM in India Amidst Controversy

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Indian cryptocurrency trading platform Unocoin has found itself amidst heated controversy over the launch of its first cryptocurrency kiosk in Bengaluru. While the existence of the machine had already been leaked prior, the company officially unveiled it roughly ten days ago, on October 14. This is the first time that a physical machine has aided the purchase and sale of cryptocurrency in India...

Bitcoin ATM Firm Not Liable for Scam Victim's Losses: Canadian Judge

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ripple CFTC Lawsuit Cryptocurrency bitcoin

A Canadian bitcoin ATM firm which was sued by a victim of fraud can finally breathe a sigh of relief after a judge ruled that the firm was not liable for the losses incurred. The victim, a woman whose name was withheld, had sued Instacoin ATM Canada to get back the C$62,500 she sent using the firm’s cryptocurrency vending machines to fraudsters, all the while thinking she was transferring the...

Cryptocurrency Lender Sees 'Meaningful Increase' in Institutional Borrowing

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bitcoin price

As institutional investors wade increasingly further into the cryptocurrency ecosystem, they are contributing to a significant bump in demand for cryptocurrency lending services. Institutional Crypto Lending Tops $550 Million That’s according to the Q3 Digital Asset Lending Snapshot from Genesis Capital, who in March launched the cryptocurrency industry’s first institutional lending business...

Zero to 30: Bitcoin ATMs Come to Argentina as Peso Dives and Inflation Soars

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argentina bitcoin

With inflation in Argentina expected to rise above 40 percent before the close of the year, the demand for bitcoin in the South American country has surged, resulting in cryptocurrency ATM firms projecting a large increase in the number of devices they plan to install in the country. Argentina Prime Real Estate for Bitcoin ATMs Currently, there are only two bitcoin ATMs in Argentina, both of them...

Bitcoin ATM CEO: Cryptocurrency Needs Regulation to Survive

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bitcoin regulation

In an exclusive interview with CCN, the CEO of the world's largest Bitcoin ATM network took a hard stance against those who believe in a world where Bitcoin and its peers can survive unregulated. Sheffield Clark, whose company -- Coinsource -- recently installed 17 new Bitcoin ATMs in Florida, stated that cryptocurrency is not a viable or realistic payment solution at this time, citing it as a...

Malware Targeting Bitcoin ATMs Goes on Sale for $25,000

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bitcoin atm

Regular bank ATMs have long been a target for criminals but now bad actors are turning their sights on Bitcoin ATMs as cryptocurrencies gain acceptance. According to Trend Micro security researchers, a malware targeting Bitcoin ATMs has been discovered in the underground markets. The Bitcoin ATM malware which is being sold at a price of US$25,000 takes advantage of a service vulnerability that...

Global Bitcoin ATM Market to be Worth $145 Million by 2023: Report

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bitcoin atm

As cryptocurrency awareness and adoption grows, the bitcoin ATM market is forecast to expand at a CAGR of over 50% in a five-year period. This is according to a study conducted by business-to-business research firm MarketsandMarkets indicating that the cryptocurrency ATM market will grow at a compound annual growth rate of 54.7% between 2018 and 2023. Consequently, the value of this market will...

There Are Now More Than 3,500 Bitcoin ATMs Worldwide

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bitcoin atm

While not as widely used as those made for fiat currency, cryptocurrency ATMs remain a popular medium for buying and selling cryptocurrency such as bitcoin. Today marks a milestone, as there are now over 3,500 bitcoin ATMs installed and operational around the world. ATM Count Breaks the 3,500 Mark The latest data from Coinatmradar -- a leading authority that tracks bitcoin ATM locations -- shows...

An Interview with a Crypto-ATM Operator: Bringing Bitcoin ATMs to Every Corner

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Chicago, IL – CCN correspondent Eric Eissler had a chance to sit down with Chief Operating Officer Benjamin Weiss of CoinFlip at its Chicago headquarters to learn about the company, the ATMs, and the general outlook on cryptocurrency. Cryptocurrency ATMs: A Brief History In the United States, there are 1,545 cryptocurrency ATMs according to CoinATMRadar. The first Bitcoin ATM manufactured by...

Austrian Startup Completes First Lightning Transaction on a Bitcoin ATM

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lightning network bitcoin

An Austria-based cryptocurrency startup has completed what it believes to be the first Bitcoin ATM transaction made using the Lightning Network (LN). Austrian Startup Coinfinity Completes First Lightning Transaction on a Bitcoin ATM Coinfinity, which operates out of Graz, already held the distinctions of deploying the first Bitcoin ATM and web-based cryptocurrency trading platform in Austria. On...

Coinsource Adds (Another) Bitcoin ATM to New York City's Growing Roster

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Coinsource added another bitcoin ATM to its New York City roster, bringing its industry-leading national network total to 127. The new bitcoin ATM resides in Mario’s Gourmet Deli at 934 Amsterdam Ave. and is accessible from 7:00 am to 1:00 am. Like the majority of Coinsource’s New York City systems, it is a one-way ATM, meaning that customers can purchase bitcoin there but not sell it. Directly...

2,900 ‘Two-Way’ Bitcoin ATMs Set to Launch in Australia

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A partnership between two FinTech firms could soon see a large-scale rollout of ‘two-way’ Bitcoin ATMs in Australia. A new joint-venture between blockchain ASX-listed blockchain startup DigitalX and ATM developer Stargroup will see some 2,900 existing ATMs’ software tweaked and updated to support users to buy and sell bitcoin using the machines. An accompanying press release reveals that...

Bitcoin Cash: Another Fork in the Road for Bitcoin

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Ethereum fork

Last week the bitcoin community and investors breathed a sigh of relief as BIP 91 locked in and activated, signalling what we thought was a great step forward in finally resolving the long standing Bitcoin scaling debate. Confidence soared and the price recovered from a previous tumble. And then came a twist. In the last 72 hours, Bitcoin increasingly looks as though it is heading for a user...

Malta Gets Its First Bitcoin ATM, Unveils Blockchain Plans

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Bitcoin ATM

Malta has received its first bitcoin ATM as the Maltese government unveils plans to make it the first country to embrace the blockchain. According to a report from the Malta Chamber, the bitcoin ATM is located in the town of Sliema where it is operated by Venture Trading. Services include the option of converting bitcoin to euro. Introduced by local startup Ivaja, through a crowdfunding campaign...

Kosovo to Get First Bitcoin ATM, As Its Central Bank Warns Against Cryptocurrencies

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Bitcoin ATM

According to a report from Balkan Insight, Kosovo is about to be the next country to have a bitcoin ATM. IT systems firm Albvision Ltd recently distributed a press release in Kosovo and Albania stating that it is going to place one of these machines in the center of Pristina, the country’s capital. The move comes as interest in bitcoin is booming in the country. According to Telegrafi, so far...

Bitcoin Bounces Back as BIP 91 Restores Confidence

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Bitcoin price

“Bitcoin’s Bubble Bursts” “The Start of the End for Bitcoin” “Cryptocurrency Bloodbath as Bitcoin and Others Tank” These, and every variation thereof, have been the headlines splashed across media channels over the last few weeks, as bitcoin’s price turned downwards for about a 10-day period. Any pullback gives detractors the opportunity to voice their views, and they will do so with gusto...

Why India is Perfect for the Bitcoin (R)evolution

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India blockchain coins

On the 8th November 2016, the Indian government announced its demonetization plans that would see 86% of all the cash money in the nation rendered useless. This rather drastic action was taken as a measure to quell illegal activities and attempt to destroy the shadow economy in the country. The Indian government aimed to prevent the use of illicit and counterfeit money to fund activities such as...

Interview: Bitcoin ATM network Coinsource Hits 100+ Machines

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bitcoin atm coinsource

Coinsource, a leading bitcoin ATM network, recently surpassed the 100 machine milestone with an early year push in the state of New York, in which it added 14 new kiosks in the state since January. The company’s portfolio surged from 70 of 103 machines, 30 of which are located in the Empire State, allowing it to control over one-third of the market in the Big Apple. New York is now Coinsource’s...

Birmingham Gets Its First Bitcoin ATM

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Birmingham has become the latest city in the U.K. to receive its first Bitcoin ATM, which is quickly becoming an area that is embracing the digital currency. BCB ATM, which is one of the U.K.'s fastest growing operators of Bitcoin ATM's, has installed the new machine at Lifestyle Store on Flaxley Road Stechford. The independently owned operator has already supplied nine Bitcoin ATM's to...

150,000 ‘Cash-Recycling’ Bitcoin ATMs to be Sold in China, India

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Japanese electronics giant OKI is launching a new ‘cash-recycling’ ATM for emerging Asian markets to enables bitcoin holders to withdraw local currencies from their digital wallets. Tokyo-based Oki Electric Industry, also known as OKI, is a Japanese electronics manufacturer that commonly sells telecom equipment and printer systems in over a hundred countries around the world. The company is now...

Las Vegas Club Installs Bitcoin ATM, Records Memberships on Blockchain

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Mixing up bitcoin with gentlemanly entertainment has been a popular idea, judging by the traffic at the recently-opened Legends Club in Las Vegas. To Peter Klamka, a bitcoin entrepreneur, it only seemed a natural location for a bitcoin ATM. But Klamka went a step further. He has branded a bitcoin ATM in the club with one of its strippers. The Legends Room debuted the first adult star branded ATM...

It's an Unclear Market for Baton Rouge's First Bitcoin ATM

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Louisiana’s capital, Baton Rouge, has received its first bitcoin ATM, joining the ranks alongside New Orleans, which received its first bitcoin ATM last June from Coinsource. According to the Greater Baton Rouge Business Report, the one-directional transaction machine was installed by Will Haynie, a New Orleans day trader who operates bitcoin ATMs with his brother. They installed a Genesis Coin...

Why Bitcoin ATMs are Becoming Increasingly Redundant

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ZenBox Bitcoin ATM Orange County

Bitcoin ATMs are becoming increasingly redundant. Innovative bitcoin service providers and companies are transforming existing bank and public ATMs into bitcoin machines by installing their signature software. In countries like Taiwan, South Korea, the Philippines and Switzerland, users can visit literally any convenience store, bank ATM and subway teller machine and see a bitcoin option. Bitcoin...

Bitcoin ATM Owners Reportedly Smashed Competitor's Machines

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According to a complaint filed in the US District Court for the North District of Illinois last month, vandals have been attacking bitcoin ATMs in the Midwestern US with a hammer on behalf of other bitcoin ATM owners. The defendants, Andrew Konja, Alvin Konja, Sam Konja, and Odai Mabroukare, are allegedly conducting the scheme in order to eradicate competition in the area. Andrew Konja reportedly...

Memphis Gets Its First Ever Bitcoin ATM

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Bitcoin ATM

Coinsource, the bitcoin ATM service provider, has expanded its bitcoin ATM’s, launching the first-ever into Memphis, Tennessee, according to the Memphis Flyer blog. The bitcoin ATM is located on the corner of South Dudley Street and Dr. Martin Luther King Jr. Avenue. According to Sheffield Clark, Coinsource CEO and co-founder, he said: Many thousands of Americans have begun to realize that...

New Orleans Sees a New Bitcoin ATM from Coinsource

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Coinsource, a leading Bitcoin ATM network, has expanded its distribution of ATMs by setting up its first bitcoin ATM in New Orleans, Louisiana, in addition to new machines in Newark and Jersey City, New Jersey, with the total number of Coinsource bitcoin ATMs on the East Coast rising to 15. The Texas-based company’s latest additions bring its total number of machines to 35 across seven states:...

5 Bitcoin ATM Companies Switch To Running Bitcoin Classic

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Bitcoin ATM

In the continuing struggle between advocates for Bitcoin core and the hard fork of Bitcoin Classic, some Bitcoin ATM’s have drawn a line in the sand on where they hope the future of the cryptocurrency to go in favor of Bitcoin Classic. In a recent Reddit thread posted on behalf of the Bitcoin ATM company Bitlove, they shared that they were among 5 current Bitcoin ATM companies including...

San Diego’s First 2-Way Bitcoin ATM Opens

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The San Diego County in South California is now home to its very first 2-way Bitcoin ATM machine. A new 2-way Bitcoin ATM – the first of its kind in San Diego County – was announced today by CoinStructive Inc., a Bitcoin marketplace consultant in partnership with CoinOutlet Inc., a U.S.-based hardware startup-centric to Bitcoin and manufacturer of this 2-Way Bitcoin ATM. CoinOutlet, also a...

Bitcoin Bandits Hit Atlanta Smoke Shop to Flee With Bitcoin ATM

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In what may very well be the first stateside crime of its kind, two bold thieves walked up to a targeted smoke shop in Atlanta. One of them was armed. The other stole a Bitcoin ATM. Two hooded thieves made their way to the Village Smoke Shop on Juniper Street to steal a Bitcoin ATM on Tuesday evening. A surveillance camera at the store captured the robbery in its entirety. Store manager Amanda...

The Mike Tyson Bitcoin ATM Is Taking People's Money

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Mike Tyson is excited at the prospect of joining the Bitcoin Community. With partners Bitcoin Direct - a subsidiary of Conexus Corporation - Tyson launched his first Bitcoin ATM in Las Vegas, Nevada at Off The Strip grill in LINQ hotel.  There is just one thing. According to people who tried to use the Bitcoin ATM, it isn’t working. A waitress at the restaurant told somebody who wanted to use the...

Here's Where To Find Everything You Need To Know About The Bitcoin ATM Industry

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Coin ATM Radar is the premier online destination for information on the nascent Bitcoin ATM industry. This industry, which has experienced serious growth since its earliest incipience, offers some of the most luxury-oriented products in the Bitcoin ATM industry, and stands out on its own as one of the few hardware oriented Bitcoin related products alongside miners.  The administrator for Coin ATM...

Mike Tyson Enters The World Of Bitcoin ATMs

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Mike Tyson, the former undisputed heavyweight champion of the world, wants to get into the Bitcoin space, according to a Tweet he made Saturday. The tweet signaled that a “Mike Tyson Bitcoin ATM” would be coming by August. As the website says, “Mike Tyson’s fastest knockout in the ring was 30 seconds. The Mike Tyson Bitcoin ATM turns your cash into bitcoin in under 20 seconds.” Tyson is best...

From Their HQ In Prague, General Bytes is Rising in the Bitcoin ATM Ranks

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Currently ranked fifth on the CoinATMRadar list for most Bitcoin ATM's, Czech Republic based General Bytes has positioned itself to succeed in the Bitcoin ATM market. Some of the most stable companies, for sure, have received the least amount of press. General Bytes appears to be one of those. The company stepped up amid the Robocoin crisis to bail out some of the embattled company's operators...

How a Bitcoin ATM Promotes Mixed Martial Arts in a Las Vegas Gym

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Mixed martial arts students in Las Vegas can now pay for their training in bitcoin if they so choose. They can also buy bitcoin at One Kick Nick's Mixed Martial Arts Gym which now has a bitcoin ATM. The popular Las Vegas gym recently installed a bitcoin ATM to meet the growing interest in bitcoin among the youthful, tech-savvy mixed martial arts community. Bitcoin Direct LLC, an Ann Arbor, Mich...

Bitcoin ATMs 101: What You Need To Know About This Growing Business Opportunity

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Interested in becoming a bitcoin ATM operator? ATM Marketplace, an ATM industry resource, has released a 40-page guide on bitcoin ATMs that explores every aspect of the business opportunity. The report is titled, “Bitcoin ATMs 101: Opportunities for the IAD.” IAD stands for independent ATM deployment. The guide, the first to examine the emerging cryptocurrency ATM market, notes bitcoin ATMs offer...