Published on : 2017-05-13 20:06:56

TAGSSubscribe to our mailing list * indicates required Bitcoin News Bitcoin ATMs On the Rise in Russia The number of bitcoin ATMs is on the rise in Russia. Images courtesy of Shutterstock, Alexey Olin, BBFpro, and RBC. Regulatory Uncertainties The number of cryptocurrency ATMs is growing in Russia despite the government saying that they will not legalize cryptocurrencies anytime soon. ” His statement followed a meeting where the regulators could not agree on how to regulate cryptocurrencies and decided to postpone their plans to draft a regulatory framework for them to next year. Last month, Investcoin24 installed a one-way bitcoin ATM at the Moscow restaurant “Vintage77,” according to an Instagram post by the founder of Iventurer Foundation, Alexey Olin. In the near future, Friedel said he plans to expand his network of cryptocurrency ATMs in Novosibirsk as well as to neighboring areas. His team originally wanted to place them in the city’s large shopping centers, but the rent is too high, he elaborated, noting that: Large shopping centers requested a rent which is almost impossible for us as a startup. He specifically named Kemerovo, Krasnoyarsk, Barnaul, and Irkutsk. Friedel told RBC that he hopes to advertise his bitcoin ATMs to attract more customers.

In addition, he added that negotiations are currently underway with airport owners for some units to be installed in their departure and arrival areas. Investcoin24’s Bitcoin ATM at Vintage77. In addition, he is uncertain how his cryptocurrency business will be taxed. Most of the terminals are located in stores selling bottled beverages, he told the publication. He also revealed that it took his team about three months to develop software and install the terminals, adding that the project cost about two million rubles. Subscribe to our mailing list * indicates required Bitcoin News Bitcoin ATMs On the Rise in Russia The number of bitcoin ATMs is on the rise in Russia. The amount for one place reached 15-20,000 rubles, while in beer shops we pay 2,000 rubles for each place. Initially, the commission will be 4%, he told Innov publication. Ten of them were recently installed in five districts of Novosibirsk by a local startup.

 The machines were placed in five districts of the city; Kalininsky, Zheleznodorozhny, Oktyabrsky, Leninsky and Kirovsky districts, detailed the company’s director, Anton Friedel. In Russia’s third most populous city, Novosibirsk, ten one-way bitcoin ATMs were recently installed by a local startup BBFpro, according to  RBC bitcoin rise. The central bank, however, is adamant that these instruments cannot be treated as money substitutes.Verge.
. In addition, “we are developing a terminal that will not only sell but also buy cryptocurrency,” he explained, adding that they also plan to start selling other cryptocurrencies. According to him, BBFpro currently has no competitors in Novosibirsk. “All ten devices are located in such a way that each resident of the city has the opportunity to quickly and easily reach the point of sale of bitcoins,” he was quoted. Let us know in the comments section below. Meanwhile, the regulators have said that they will not legalize cryptocurrencies anytime soon. .

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