Bitcoin ATM operator EasyBit today announced that it plans to install three new bitcoin ATMs in Vietnam. The company already operates one machine in Ho Chi Minh City, the country’s largest city.
EasyBit is the first global Bitcoin ATM company with nearly 50 machines in operation in more than 10 countries. It provides a secure, easy-to-use, fast and compatible way to buy and sell bitcoin through digital currency kiosks. Its first bitcoin cashier was at Warie’s Thai restaurant in Amsterdam (although later it was stolen). “We are a small company built for the bitcoin community by bitcoin enthusiasts.”
“We were founded in December of 2013. We work with both BitAccess and GenesisCoin bitcoin ATM manufacturers in order to provide our operating partners and customers with the highest quality, fastest, and easiest use bitcoin ATMs in the world.” Says the company through its website.
The four machines from Vietnam, all supplied by Canadian hardware manufacturer BitAccess will be bidirectional. This means that users can deposit bitcoins for cash as well as buy digital currency. Bitcoin Vietnam will handle all operations on the ground, such as liquidity management, marketing, customer service and legal issues.
Traders expect a percentage of business to come from Vietnam’s $13 billion USD remittance industry. The country currently ranks #11 in the world for money sent home from overseas workers and relatives. However the company has observed many other use-cases, such as students purchasing online games with bitcoin, people purchasing goods from China and the U.S., and miners cashing out their proceeds.United States, and miners who collect their profits.
“While still in a nascent stage, FinTech is an increasingly hot topic in Vietnam — and we see this as one additional and important step in order to strengthen our position as market leader in the Digital Currency exchange landscape in Vietnam.” said a company representative.
Bitcoin Vietnam CEO Nguyen Tran Bao Phuong said she was looking forward to working with experienced partners to bring the benefits of this new technology to the Vietnamese market.
“While still in a nascent stage, FinTech is an increasingly hot topic in Vietnam and we see this as one additional and important step in order to strengthen our position as market leader in the Digital Currency exchange landscape in Vietnam.”
The association’s first Bitcoin ATM is already installed and running. It is available from 10AM to 1AM, seven days a week at Italiani’s home pizza restaurant in Ho Chi Minh City. Three more machines head to Vietnam for unprecedented locations, probably also to be meeting places for young and more tech savvy people.
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