Prepare your wallet ahead of time, and bring exact change. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they’re also private. As it turns out, the Hong Kong special administrative region is now in process of formalizing regulations with an aim of protecting investor interest in light of the drop in Bitcoin prices and potential frauds.
The State of Bitcoin in Hong Kong
Sam Glaser: The world seems to pretty excited. We sold over 50 machines within the first 50 days of accepting orders. TC: Tell me about. SG: We are a small team of hungry, dedicated and determined technologists based in Las Vegas. Our team hng laser focused on proliferating Robocoin around the globe and providing an onramp for bitcoin overall. TC: What are your numbers in Vancouver?
Buying Bitcoin in Hong Kong
Updated: version history. In general, Hong Kong has a reputation as a reliable and predictable non-interventionist regulator. Most rules are clearly laid out and easy to comprehend and follow for people with little legal training like me. Rules rarely contradict each other and while government agencies do not closely coordinate with each other or share common goals, there are few power plays and power grabs between different agencies and departments. However, some license regimes are restrictive and tied to control over real estate, which makes them only accessible to an oligopolistic cartel of property developers. Other licenses are no longer given out and have to be bought from existing license holders.
The Regulatory Environment
Sam Glaser: The world seems to pretty excited. We sold over 50 machines within the first 50 days of accepting orders. TC: Tell me about. SG: We are a small team of hungry, dedicated and determined technologists based in Las Vegas.
Our team is laser focused on proliferating Robocoin around the globe and providing an onramp for bitcoin overall.
TC: What are your numbers in Vancouver? The numbers have actually been accelerating. Who is your provider? The Robocoin software uses those account credentials to perform all of the necessary tasks in real time. Our patent pending technology integrates with digital currency exchanges, such as Bitstamp, MtGox, BTC China, etc and facilitates trades for customers while giving the operator of the machine full control over the process. TC: So soon. Is it secure? Our 3-step verification gives operators unprecedented visibility of their customers and Robocoin software bitcoin atm hong kong charge incredible power to defend against money laundering.
On the security side, the kiosks connect to our infrastructure through a VPN connection. The servers are not publicly accessible from the internet which minimizes the attack service. The computer itself sits in the safe so physical attacks are minimized. TC: Can you install one in the bar around the corner from me in Brooklyn?
SG: Want to be the owner? Find a partner with a money transmitter license and you can help us grow the brand. TC: Why not put one in Manhattan? SG: En route! Announcement coming soon.
Hong Kong Bitcoin Regulation
Bitspark has a cash-friendly crypto wallet connected to a decentralised exchange, providing several on and off ramps and payment options. You can refer to our guide on Bitcoin exchanges in Hong Kong to select one based on different criteria such as transaction fees, withdrawal limits, payment methods, security, reputation, and ease of use. However, not all exchanges offer on and off ramps for fiat currency. The Bitcoin are bitcon in escrow by the exchange. Wire chharge to these exchanges are more expensive, but often more reliable and there is significantly more market depth. OTCs Over-the-counter services are likewise relatively easy to use.
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