Soon there will be 130 new Bitcoin ATMs in Japan!

1 Bitcoin ATM in Japan right now. 130 new ones to come!

Bitcoin ATMs are "back in the game" in Japan for the first time since the 2018 cryptocurrency winter, enabling residents of Osaka and Tokyo to trade cryptocurrencies from devices other than smartphones or personal computers. Let's see how example Bitcoin ATMs look like.

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Bitcoin ATM are one of the places where you can buy and sell BTC.

‍GaiaCo., Ltd, the local cryptocurrency exchange in Japan, revealed on Wednesday that it will soon debut in crypto ATMs or "Bitcoin ATMs". It has plans to roll out 130 such machines to support Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) over the next three years.

What are Bitcoin Bitcoin coming to Japan?

A Bitcoin ATM is an internet-connected terminal that allows consumers to exchange fiat currency for Bitcoin. BTMs allow users to sell Bitcoin for fiat money.

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CEO of Gaia on Crypto ATMs

Gaia CEO, Motohiro Ogura, announced that for the first time, a local exchange is installing cryptocurrency ATMs in the country.

“It's good to know that cryptocurrencies can be converted to cash instantly. Virtual money is usually of the greatest interest as an investment vehicle, but also has the potential to be used as a settlement currency. I want to develop this topic, ” he said.

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‍Do you want to find out where ?

Check out the article Bitcoin ATMs in Ukraine to review their locations and opening hours.

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Bitcoin ATMs Revival in the Land of the Rising Sun

These systems differ from traditional ATMs that allow bank customers to physically withdraw cash from their accounts. These types of ATMs are instead blockchain-based and transfer the cryptocurrency to the user's digital wallet = usually via a QR code.

The catastrophic Coincheck hack in early 2018 dealt a heavy blow to the Japanese cryptocurrency industry, rendering crypto ATMs in key trading locations nearly useless.

In early 2018, hackers stole NEM tokens worth around $ 500 million, prompting lawmakers to shut down all cryptocurrency ATMs nationwide. Why? The resources were stored as part of hot storage instead as part of cold storage.

In recent years, the number of bitcoin ATMs around the world has grown significantly. The United States is now the undisputed leader with nearly 34,000 machines.

Fortunately, there are also many of them in Ukraine, especially Bitcoin ATMs in Odessa, Kiev and Lviv. If you want to see where these cryptocurrency ATMs are, as well as their opening hours and photos, take a look at Bitcoin ATM Map for Ukraine.

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Cryptocurrency ATMs are booming 

CoinATMRadar, a platform dedicated to measuring the number of cryptocurrency ATMs in the world, revealed in December 2017 that the number of bitcoin ATMs worldwide had increased by more than 100 percent over the past year.

The reintroduction of bitcoin ATMs in Japan would be groundbreaking as no Japanese company approved by the regulator has ever operated these cryptocurrency distribution machines.

Bitcoin ATMs will allow customers to withdraw up to $ 747 or 100,000 Japanese yen (JPY) per transaction and $ 2,243 or 300,000 yen per day. 

For anti-money laundering (AML) activities, payouts are capped. Bitcoin currently sells at $ 23,202, down 2.5% over the past week, Coingecko's statistics show.

If you want to buy or sell Bitcoin commission-free in Ukraine, especially in Odessa, start with reading reviews about Bitcoin ATMs for Ukraine.

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