• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Abra

Does Abra Pose a Threat to the Bitcoin ATM Industry?

Antonio Madeira
by Antonio Madeira
8 years ago
·
Posted in Uncategorized, Bitcoin, Bitcoin Acceptance, Bitcoin Businesses, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

As Bitcoin apps such as Abra increasingly bridge the fiat gap by providing more options to buy and sell Bitcoin, could physical BTMs become obsolete?


Abra Adds Bitcoin as Official Currency

Yesterday, Abra, a Bitcoin-based remittance app that allows users to cash out national currencies via pre-selected Tellers, announced the addition of Bitcoin as a usable currency.

Although Abra has always been powered by Bitcoin, the new addition will allow users to buy, store, transfer and spend Bitcoin directly as they would with USD or EUR.

abra_january-2017_setb_send-bitcoin-receive-dollars

Now users can buy Bitcoin directly with their bank account with no fees for customers in the U.S. and the Philippines, a major remittance hub where Abra has over 1,000 supporting “Tellers” providing cash in/out services. 

Users can also shop at any Bitcoin-enabled merchant through their Abra wallet and make a transaction to and from any Abra user or external wallet around the world. The startup also announced the additional support of over 50 local currencies worldwide and the ongoing development of their international Teller program.

In the announcement, the company stated:

We’re committed to our long term vision of simple & secure global peer-to-peer payments. This latest update is the next step in bringing this vision closer to reality.

Planet of the (Bitcoin) Apps

The era of apps like Abra and similar ones like Spare, which make it possible to cash out Bitcoin into fiat at local stores, could provide an additional boost to global Bitcoin infrastructure.

But could this come at the expense of existing Bitcoin ATMs, which have recently surpassed the 1,000 milestone globally.

bitcoinist_atm_radar

For one, these apps provide multiple advantages for the end-user such as the flexibility of a software-based solution compared to physical BTM machines. Additionally, only 35% of BTMs support both cash in/out operations while these apps support both.

BTM fees are also relatively high, as the average fee is around 8%, according to online resource CoinATMradar, while Spare, for example, charges $2-3 USD commission.

‘Meeting with Someone Face to Face is a Totally Different Story’

Nevertheless, physical Bitcoin teller machines might not be going anywhere for a while, according to the founder of CoinATMRadar “Vlad,” who has been closely monitoring the industry since the beginning.

“…It is good there are potential alternatives, but I don’t think they will influence ATMs a lot,” he told Bitcoinist. “While we are in the infancy stage, all types of access services will grow in the nearest future. The number of ATM installations is accelerating, which means they’re mostly profitable and demand is increasing.”

In a such a nascent market, there could indeed be room for many types of cash in/out solutions based on user preference and specific features from various Bitcoin ATM companies.

BitcoinATM Growth

“First of all, [Bitcoin] ATMs are 90% buy operations, only ~10% is sell — the ones which Spare potentially can compete,” he explained. “But there is much more to it than this. ATMs are autonomous, but meeting with someone face to face is a totally different story.”

Furthermore, Vlad believes that KYC/AML compliance among the distributed agent network is a “mess,” while adding that some Bitcoin ATMs are starting to offer even lower fees than $2-3.

When asked if such apps are posing a threat to the Bitcoin ATM industry, he replied:

I don’t feel it will have any major impact on ATMs.

Do you see many types of Bitcoin cash in/out solutions coexisting in the future?  Let us know in the comments below!


Images courtesy of CoinATMRadar, Abra, Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Antonio Madeira

Antonio Madeira

Follow

Full Profile

Related Posts

cours-or-nouveau-record-chute-btc

Record de l’or et chute du Bitcoin : que se passe-t-il ?

11 hours ago
Đồng tiền điện tử hàng đầu nên mua trước khi tăng 3.500%

Đồng tiền điện tử hàng đầu nên mua trước khi tăng 3.500% – Theo Cathie Wood của ARK Invest

17 hours ago
Top 3 Altcoin Đang Được Cá Voi Tích Lũy Ngay Lúc Này

Top 3 Altcoin Đang Được Cá Voi Tích Lũy Ngay Lúc Này

17 hours ago
Metaplanet

Metaplanet Pushes Bitcoin Holdings Over $2 Billion With New Purchase

1 day ago
solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

1 day ago
Bitcoin

Bitcoin Mining Can’t Keep Up: Companies Buying At Quadruple Pace – Report

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    7 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    7 hours ago
  • From Institutional to Individual Investors: How XRP and...

    7 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    8 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.