Demand for Bitcoin in Ukraine Grows Fivefold
Stanislav Podyachev of bitcoin selling service Btcu.biz told ForkLog that demand for the cryptocurrency in Ukraine has increased almost five times as compared to 2015.
â€śWe service around 10 000 customers a month. It’s a serious growth compared to the last year, when it was a matter of two or three thousand,â€ť he said.
Btcu.biz has been in business since 2013 to offer Ukrainian residents bitcoins via iBox terminals. There are around 4000Â terminals throughout the country. According to Podyachev, sales are off charts in Kyiv, Kharkiv and Dnipro (former Dnipropetrovsk).
Podyachev notes that installation of two-way BTM’s today is totally profitless under the given conditions.
â€śThe problem that a BTM is a cost-intensive thing. So, it’s either its cost should be low enough to make the installation profitable, or the amount of transactions should be high enough to repay the expenditures. According to our calculations, with the existing ATM models, they will pay for themselves in about ten years to say the least. So today it’s hardly a reasonable investment,â€ť Podyachev concluded.
Subscribe to our Newsletter<
- Bitsonar Exit Scam: How Former Ukrainian Government Official Took Money From Europeans, Americans, and Russians With Cryptopyramid
- Martijn Wismeijer: I Used My Implants as Bitcoin Saving Wallets
- Ukraine’s Deputy Minister of Digital Transformation: We Want Ukraine to Join Countries That Develop New Economy
- Alternative Cryptocurrency Regulation Bills Introduced in Ukraine and Russia
- Russian Police Confiscates Bitcoin ATMs in a Major Swoop Across the Country
- You Can Now Buy Fruits and Vegetables with Bitcoin in Kyiv
- Ukraine Set to Recognize Cryptocurrencies as a Financial Instrument
- Ukraine Electoral Commission Trials NEM Blockchain for Voting Process