The Philippines welcomes its first Bitcoin ATM. Brought by Satoshi Citadel Industries and Bitmarket.ph, the machine will be ordered from Skyhook and will cost $US 999. ATMs are no longer exciting news, yet this one is a lot smaller in size and it will speak to the success of Bitcoins on a global scale. The ATM will appeal to a wealth of people and cultures with money to trade and transactions to process.
A better understanding of Project Skyhook
What is Skyhook? Skyhook is an open-source Bitcoin ATM. Selling Bitcoins was once difficult, and many people were tired of depending on exchanges and centralized banks to buy Bitcoins. Skyhook changed everything. The company developed a tiny and secure machine everyone can use to exchange Bitcoins.
It comes with a hefty security mounting plate and a password-on-boot options. It someone steals it, you have nothing to worry as your Bitcoins will be safe. The ATM accepts Australian, US, and Canadian dollars, as well as Argentinean Pesos, Yuan, Euros, and numerous other currencies.
Easy to set up, Skyhook comes with a detailed guide you should use to get started. Buyers will require a Wi-Fi or wired internet connection, a power cable, and Bitcoins to sell. The touch-screen graphical interface of Skyhook will ease your job to buy Bitcoins and make use of the QR code for wallet address recognition.
Skyhook sets Bitcoin prices automatically using major exchanges. Afterwards, it adds a minimum price protection so that you can get paid for using Bitcoins. The ATM machine is excellent for vendors, storefronts, bars, meet-ups, and merchants. Set your rate and start trading.
Bitcoin, a global phenomenon now available in compact size in the Philippines
Unlike the other two popular Bitcoin machines, Lamassu and Robocoin, Skyhook is a lot smaller, and of course, less expensive. Owned by a Filipino company known as Bitmarket.ph, locals will finally be able to trade Bitcoins with Philippine pesos and not have to worry about exchange rates. To use Bitmarket.ph all you have to do is activate and access your account. Next, type your transaction's details (details of the buyer and item for sale). Enter your selling price and exchange it in Bitcoins immediately.
Generate a QR code and use the code to share it with clients. Bitmarket additionally offers cash settlements where you can convert Bitcoins into Philippine pesos daily. Bitcoins provide fast, real time transactions to customers. Trading Bitcoins keeps people away from chargebacks, bank fees, and commissions. Unlike other forms of exchange, Bitcoins provide transparency where you can track each one of your transactions in real time. Vendors accepting Bitcoins are essentially adding value to their business by gaining a competitive advantage as a first adopter and cutting costs.
Now that the Philippines is finally welcoming its first Bitcoin ATM, people will "dispense Bitcoins for Pesos on the spot in a matter of seconds at competitive and fair rates.”