Dear Steemians,
great news that i discovered form couple of blockchain colleagues in Toronto:
Ontario-based Bitcoin and Ethereum automaker Localcoin ATM has begun to install the first Ethereum ATMs in Canada.
Over the past few weeks, the company has already launched vending machines in Toronto, Brampton and Etobicoke. All vending machines should have been installed in branches of the famous supermarket chain Hasty Market.
What?
Thanks to the Localcoin-Ethereum 2-Way machines, users and investors can now easily buy or sell Ethereum. The principle of the Ethereum machines is the same as with the already known Bitcoin machines. In order to purchase Ethereum, the users only have to enter a valid Ethereum address and pay accordingly in Fiat currency (CAD). To exchange Ethereum against Fiat, the user will be shown an address on the display to which he has to transfer the ETH - the payment is made directly at the machine in CAD.
It is apparent from an announcement from the machine manufacturer that:
"We are pleased to announce the installation of our Ethereum machines. We are the first manufacturer to support Ethereum in Toronto. Ethereum has revolutionized the crypt industry thanks to the Smart Contract features. "
Why do I need Ethereum machines?
Ethereum (ETH) is currently supported by almost all trading venues for digital currencies. However, in order to be able to trade in Ethereum, strict guidelines for the prevention of money laundering (AML) and Know Your Customer (KYC) must be observed. The effort for the users to be released for the trade is correspondingly high.
Users, however, who only want to purchase small amounts of the digital tokens are usually afraid of the procedure and keep away from the digital currencies. Thanks to the Bitcoin and Ethereum machines, users can quickly and easily acquire small amounts of ethereum without entering the ID card data, accounting records, etc. Due to the deposit and withdrawal limits, the machines still meet all the necessary AML and KYC requirements.
Also in other countries such as South Korea or Hong Kong, Bitcoin machines are already very popular and form an important basis for mass acceptance. You can see some great plans that for example Japan is already executing here from the 1 August. Only if the acquisition, the exchange and the applicability have reached an appropriate user-friendliness, the way to the mainstream can be paved.
Do you think people will begin to use those machine or going directly with a product like Xapo debit cards?
looking forwards to learn more from you guys!
happy steeming,
Francesco
