We Visited Those New Bitcoin ATMs in the Ukraine and Here’s What We Found

CCN.com conducted an exclusive investigation into BTCU.biz's new Bitcoin ATMs in the Ukraine and discovered a less than perfect picture.
Posted in: Archive
October 1, 2015 10:11 AM UTC

When Coin ATM Radar announced 16,000 new Bitcoin-enabled ATMs in the Ukraine, we here at CCN.com decided to see these machines for ourselves. Do they exist? Do they really work? Are they a good deal? Read on to find out.

So we commissioned a private investigator to take a look at 10 of these newly-minted Bitcoin ATMs in the port city of Berdiansk in Southeast Ukraine.

We found that 7 of these 10, randomly selected, ATMs were present where Coin ATM Radar said they would be, and were in working order. But 3 were either out of service, nowhere to be found or lacking Bitcoin service.

The Market Maker

BTCU.biz is the Ukrainian payments company, founded in 2013, that is behind the service. BTCU.biz partners with the iBox and 24nonStop terminal networks to sell bitcoin around the nation 24/7.

The iBox machines enjoy better customer support in our experience and are more well-maintained than 24nonStop’s machines, which are more hit and miss.

Users can also sell their bitcoin back to the company for Ukranian hryvni (UAH) by withdrawing funds into a Ukrainian bank card. Service on these new 16,000 ATMs adds to their previously existing network.

Community Response

A lingering question is the apparent 17 per cent fee when purchasing bitcoin at these ATMs but the community response has been generally positive, with one Ukrainian redditor saying he planned to start using the new terminals immediately.

Our Results, Mapped Out

Working ATMs are marked with a green heart. Non-working ATMs are marked with a broken red heart. Unmarked ATMs we did not test.

ATM Photos

Here are the photos we took of the ATMs in Berdiansk.

Have you tested more of the bitcoin ATMs in Ukraine? Leave a comment below!

Last modified: June 13, 2020 9:35 PM UTC

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George Donnelly @GeorgeDonnelly

Freelance blogger on the cutting edge of tech-empowered liberty. Parallel individual empowerment equals global liberation. Active in: Bitcoin, cybersecurity, FOSS, individual liberty, market anarchism. Tips: me@georgedonnelly.com.