The causes why price at Bitcoin ATMs in Ukraine changes can range from a simple, time-tested supply and demand economy to design technology and social media hype. Then, the operator's fee changes depending of a discount.
The price of cryptocurrencies at the Bitcoin ATMs in Ukraine depends on various factors. At any given time, cryptocurrency prices are influenced by several market and non-market elements.
These factors can range from a simple, time-tested supply and demand economy to design technology and social media hype.
On top of this price, there is also a fee by the operator, which ranges from 0% to 7% (the 7% is the average fee at BTC ATMs in the world). The 0% is the discount price that happens after the operator informs about it on its social media.
So, let's see what really causes price at BTC ATMs to change:
The more there is, the less it is valued. The total supply of cryptocurrency in part determines the price of the cryptocurrency. The greater the supply of the currency, the greater the selling pressure and the lower its price will be.
But if you've been watching the cryptocurrency market as long as we've been, you probably know that this may not always be true. There are unlimited supply coins like Ethereum that have gained over 1000% in a short period of time. So, to get a clearer picture of the coin's price potential, you should look at total supply, supply in circulation, and market cap as one system.
The technology behind the design and its use case are other important factors to consider. If you want to know if a token is worth your time, ask the question: what real problem is the token solving? If a cryptocurrency or token is backed by solid technology, it will naturally attract people to purchase it, thereby increasing the demand and then - its price.
If you are interested in what really is a Bitcoin ATM, you should check the article What is a Bitcoin ATM and how it works.
The stock exchange has over 200 years of history. Compared to this, cryptocurrencies at Bitcoin ATMs in Ukraine are relatively new, so there is high speculation and volatility in the crypto markets. Traders and investors "buy the hole" in the blink of an eye.
The crypto industry is a tree compared to the stock market giant, but that's where the potential lies. Only 100 million people or 2.14% of the 4.66 billion internet users currently use cryptocurrencies. That figure was only around 50 million in 2019. In terms of the market, the massively adopted exchange has a global market cap of $ 93 trillion, while the lesser-known crypto already has a total market cap of $ 1.8 trillion. As the adoption of cryptocurrencies increases, the demand for them will additionally increase.
The fact that the price at ATMs is influenced by social media hype is a relatively new trend being stimulated by the burgeoning social media communities. Keep in mind, the users of the r/WallStreetBets subreddit increased their GameStop (NYSE: GME) stocks by 30 times since their opening price in January this year. For the first time, traders gathered on social media to cause an artificial short squeeze, driving GME's stock price up.
Crypto is no exception to this trend as #CryptoTwitter is famous for similar activities. Tweets from Tesla and SpaceX founder Elon Musk were able to send the DOGE meme coin into space - up to 11,000% of its initial value. However, there are many ways that social media can help set the price of a crypto project. Information can be found in all this chaos. Social observations and sentiments can be used to gauge the strength of a project's community.
We now come to the last and most important factor that keeps a crypto project alive: the size of the developer community and sustainability. Innovation and development is at the heart and soul of the crypto project.
Without new solutions, the project can be considered dead. Whether it's a second-tier scaling solution or a blanket privacy protection suite, every successful crypto project has made progress in its development.
Cryptocurrencies at Bitcoin ATMs are very volatile and their prices can often fluctuate. But that didn't deter new people from investing in cryptocurrencies. All of the above factors contribute to determining the crypto price in the long run.
Finally, the price at the ATMs is influenced by the operator's fee. It ranges from 0% to 7% (the 7% is the average fee at BTC ATMs in the world). The 0% is the discount price that happens after the operator informs about it on its social media. It is a good idea to follow the operator's social media to stay in the loop on the special offers.
It is also a good idea to check the map of Bitcoin ATMs in Ukraine.
Lidiya is editor-in-chief for Bitcoin-Ukraine and also spoke in Crowdcreate’s CryptoCom conference.
Everything you would like to learn about Bitcoin ATMs in Warsaw in Ukrainian.
You can buy USDT Lviv at this Bitcoin ATM. It lets you both buy & sell USDT & BTC and other crypto. It is anonymous below 29999 UAH and sometimes doesn't have fees.
Everything you would like to learn about Bitcoin ATMs in Warsaw in Ukrainian.
The community of investors using Bitcoin ATMs in Ukraine is growing quite rapidly. New devices are popping up every month. Prices, fees, KYC and Bitcoin all fluctuate quite visibly. It is becoming harder and harder to stay in the loop of what is happening in the Bitcoin ATM market in Odessa or Kiev. With this blog, you are able to follow the recent developments and never miss out on changes in law or new methods of trading crypto privately with cash.
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