atm
Cryptonica hits 10M in weekly transactions
Published
3 months agoon
By
adminCryptonica has reached a significant milestone by successfully handling 10 million transactions every week.
Cryptonica has a network of 6,000 ATMs spanning 22 countries, making it easier to access digital assets. Transactions from these ATMs show that 62% involve Bitcoin (BTC), 23% involve Ethereum (ETH), 7% involve Dogecoin (DOGE), and 8% involve other altcoins.
The average transaction value is $133, suggesting a diverse user base that includes retailers and small to medium-sized businesses.
What are crypto ATMs?
Crypto ATMs, also known as Bitcoin ATMs or BTMs, are physical kiosks that enable users to buy and sell cryptocurrencies using cash or debit cards. These machines are connected to the internet, allowing them to interact with various cryptocurrency exchanges and blockchain networks.
Users can buy crypto by inserting cash or a card and providing their wallet address, typically via a QR code scan.
Some crypto ATMs also allow users to withdraw cash by selling their cryptocurrencies. These transactions are usually quick, with confirmations taking anywhere from a few minutes to an hour, and are secured with compliance measures like identity verification to prevent fraud.
Growing use of crypto ATMs
The recent surge in transaction volume, 55% higher than the previous week, underscores the increasing demand for crypto ATMs worldwide.
Cryptonica ATMs boast an impressive uptime of 99.98%, setting a new industry standard for efficiency and reliability. The average transaction time is just 90 seconds. Rigorous fraud prevention measures and lockdown modes ensure the security of digital assets, contributing to the company’s growth and user trust.
Source link
You may like
Coinbase Brings Bitcoin to Solana with cbBTC
Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump
The Bitcoin Report: Key Trends, Insights, and Bitcoin Price Forecast
Eclipse launches public mainnet of first SVM L2 on Ethereum
How Far Can Cardano Price Rise in November?
Bitcoin Indicator Signals Equilibrium After Trump Victory – A Clear Path To New Highs?
atm
Crypto ATM sting in Germany leads to $28m seizure
Published
3 months agoon
August 21, 2024By
adminGerman authorities confiscated 13 crypto ATMs and seized nearly $28 million in cash across 35 locations.
It’s been quite the summer for Germany and crypto. German authorities have faced criticism for their negative stance on crypto after selling seized Bitcoin (BTC). Recent busts from August 20 reveal that German authorities are still cracking down on crypto malpractice.
On Aug. 20, German authorities carried out a wide-reaching anti-money laundering operation, confiscating 13 crypto ATMs and almost $28 million in cash from 35 locations nationwide, according to Reuters.
The raids, led by financial watchdog BaFin in collaboration with police and the Bundesbank, targeted machines operating without the necessary licenses, posing significant money-laundering risks.
Crypto ATMs are machines that allow users to buy or sell cryptocurrencies like Bitcoin using cash or debit cards. They function similarly to traditional ATMs but are designed specifically for cryptocurrency transactions.
German authorization for crypto ATMs
BaFin finds that converting euros to cryptocurrencies, or vice versa, constitutes a commercial activity that requires explicit authorization under Germany’s Banking Act.
The unlicensed operation of these ATMs raised concerns over potential links to criminal activities, including money laundering and terrorist financing, given the anonymity often associated with such transactions.
The watchdog reiterated its commitment to safeguarding the integrity of the German financial system, highlighting the importance of regulatory compliance to protect consumers.
ATM operators can now face prosecution, with penalties of up to five years in prison, according to AML Intelligence.
Source link
Coinbase Brings Bitcoin to Solana with cbBTC
Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump
The Bitcoin Report: Key Trends, Insights, and Bitcoin Price Forecast
Eclipse launches public mainnet of first SVM L2 on Ethereum
How Far Can Cardano Price Rise in November?
Bitcoin Indicator Signals Equilibrium After Trump Victory – A Clear Path To New Highs?
Satoshi Nakamoto: The Robin Hood of the Digital Age, But He Stole from Himself
Following SHIB’s success, XYZ coin could bring 19,900% gains: $1,000 could yield $200k
Benjamin Cowen Issues Bitcoin Alert, Says Potential Plunge ‘That Scares People’ Incoming – Here’s His Outlook
Trump Memecoins Tanked More than 50%: Is It The End or Just A Temporary Downfall?
TRUMP, MAGA, and other Trump-themed tokens crash after election day
Dormant Ethereum Whale Returned With Donald Trump’s Win Making $30M
SEC Seeks Court Approval to Dismiss Kraken’s Major Legal Defenses
How Trump’s Promises Could Influence BTC $250k forecast
Polymarket Faces French Ban After Massive Bets On US Election Results
182267361726451435
Top Crypto News Headlines of The Week
Why Did Trump Change His Mind on Bitcoin?
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Washington financial watchdog warns of scam involving fake crypto ‘professors’
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Trending
- 2 months ago
182267361726451435
- 24/7 Cryptocurrency News3 months ago
Top Crypto News Headlines of The Week
- Donald Trump3 months ago
Why Did Trump Change His Mind on Bitcoin?
- News2 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Bitcoin4 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion4 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Bitcoin3 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- Price analysis3 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?