Largest Asian Manufacturer of ATMs Integrates Bitcoin Into Its ATMs Around the World
November 20, 2017
The Korean company Hyosung announced that it would add the option to buy and sell Bitcoin to its ATMs around the world.
Since 2014 the company has been cooperating with the Coinplug service, through which users can deposit or withdraw funds to buy or sell Bitcoin using a mobile application. Thanks to this, the liquidity of the cryptocurrency in the country has increased and the opportunities for South Koreans to use it have also expanded.
In the coming weeks, Hyosung will fully integrate Bitcoin into its international ATMs. In order to do this, the manufacturer will cooperate with the service Just Cash, through which the transaction processing will be conducted. This will increase the level of Bitcoin acceptance around the world, as Hyosung markets its products in the USA and most European countries. For example more than 60% of private ATMs in the USA are produced by Hyosung.
It should be noted that buying and selling Bitcoin through ATMs is one of the most expensive options for trading the cryptocurrency. The commission for transactions is higher than on exchanges, but this method is much simpler and does not require users to undergo a lengthy verification procedure, as well as have advanced technical knowledge.