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150 Bitcoin ATMs Coming to Ukraine

150 Bitcoin ATMs will be installed in Ukraine this year, including 20-30 machines set to be installed on the streets of Kiev, the capital city of Ukraine, by the end of the summer.

Also read: Coinbase Reverses – Plans to Allow Bitcoin Cash Withdrawals in January 2018

Approximately 20-30 Cryptomat Bitcoin ATMs (BTMs) will be installed in Kiev by the end of the summer, Michael Chobanian, founder of Kuna Bitcoin Agency and Kuna Cryptocurrency Exchange, told UBR this week. He also said:

By the end of the year, around 150 Bitcoin ATMs will be installed throughout Ukraine. This is at the request of one customer who contacted us. Plus, there is a constant demand from entrepreneurs across Ukraine who want to engage in this business, that is, buy terminals and sell cryptocurrencies.

150 Bitcoin ATMs Coming to Ukraine

Currently, there is only one BTM in Ukraine shown on Coinatmradar, a website that tracks BTMs globally. This 2-way BTM was installed in late April and is located in Odessa, a port city on the Black Sea in southern Ukraine. It is the first BTM in the country, according to UBR.

Other than this BTM, there are approximately 4,000 street terminals that reportedly sell bitcoin, the bitcoin service provider BTCU announced in 2014. They are not BTMs but customers can buy vouchers from them to redeem for bitcoin on the BTCU website.

The 150 Cryptomat BTMs to be installed later this year support the sale of bitcoin, ether, waves, and golos, according to its website. In addition, “unlike many competitors, Cryptomat does not require user identification.” Ukrainians will be able to purchase cryptocurrencies using the hryvnia, Chobanian detailed.

He also explained that anyone can get into the Bitcoin ATM business. “There is no need to obtain any licenses for this activity,” he detailed, citing the lack of cryptocurrency regulations in Ukraine. “No one gets licenses for coffee machine businesses. This is the beauty of Ukraine,” UBR quoted him saying.

Do you think bitcoin adoption will increase in Ukraine with all these BTMs? Let us know in the comments section below.


Images courtesy of Shutterstock and itc.ua


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Tags in this story
ATM, Bitcoin ATM, BTM, CoinATMRadar, Cryptocurrency, cryptomat, Digital Currency Initiative, Kiev, kuna bitcoin agency, kuna exchange, licenses, Michael Chobanian, N-Featured, odessa, Regulation, Ukraine
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Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.