The Crypto Roundup: 23 September 2020 | CryptoCompare.com

By September 26, 2020Bitcoin Business
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The number of bitcoin ATMs installed throughout the world has exceeded 10,000, and the United States continue to lead the rest of the world in crypto ATMs with 76% of machines installed.

A report from the European Central Bank (ECB) has called for the term “stablecoin,” used to refer to cryptocurrencies pegged to the value of fiat currencies, should be reconsidered because of its ambiguity.

Cryptocurrency exchange Zebpay has launched a campaign with ads featuring bitcoin during the Indian Premier League cricket games. Users reported the ads appeared on Indian streaming platform Disney+ Hotstar during a series of matches directing users to learn about bitcoin.

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Top stories in the Crypto Roundup today:

  • There Are Now Over 10,000 Bitcoin ATMs Throughout the World
  • European Central Bank Says Term ‘Stablecoin’ Is Ambiguous
  • Bitcoin-Related Ads Appear on Disney+ In Some Regions
  • Sponsored: Only 1 Week Left to Get a Lucrative NUT/EQ Swap Rate!
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The number of bitcoin ATMs installed throughout the world has exceeded 10,000, and the United States continue to lead the rest of the world in crypto ATMs with 76% of machines installed.

According to CoinATMRadar, the first Bitcoin ATM was installed back in 2013 and in seven years the industry grew to over 10,000 machines installed. In comparison, it reports bank ATMs needed nine years to get to 10,000 machines back in the 1970s.

The firm’s data suggests it took crypto ATMs 3.5 years to grow to 1,000, and that over the next 3.5 years the number surged by 9,000 to hit five-figure territory. The first bitcoin ATM was installed in Vancouver.

In 2014, the first Bitcoin ATM was installed in the U.S., in Albuquerque, New Mexico, and since then most crypto ATMs have been installed in the country. By 2015, there were only 300 Bitcoin ATMs throughout the world, being installed by small organizations trying to bolster crypto adoption.

Bitcoin was initially dominating crypto ATMs, as only 4% of machines supported altcoins. In 2017, however, the BTC network’s congestion saw users start using other cryptos, and ATM operators added them to their machines.

A report from the European Central Bank (ECB) has called for the term “stablecoin,” used to refer to cryptocurrencies pegged to the value of fiat currencies, should be reconsidered because of its ambiguity.

The 30-page report draws a distinction between stablecoins and existing currencies, defining stablecoins by a few characteristics based on the purposes they serve. They serve as a cryptoasset, a new payment method, and an alternative store of value.

Per the report, stablecoins are digital units of value and not a form of any currency. They rely on tools to decrease price fluctuations against existing government-issued currencies. While the term stablecoin is seen as having various benefits, it could make false promises of stability to consumers.

To the ECB, using the term stablecoin could be perceived to “have positive connotations in terms of stablecoins’ intrinsic stability and usability as a form of money.”

Cryptocurrency exchange Zebpay has launched a campaign with ads featuring bitcoin during the Indian Premier League cricket games. Users reported the ads appeared on Indian streaming platform Disney+ Hotstar during a series of matches directing users to learn about bitcoin.

Over 462 million people reportedly watched the Indian Premier League games last year, with over 300 million tuning in using the Disney+ Hotstar platform. The bitcoin ads are appearing shortly after Zebpay reopened in the country.

The exchange reopened before the Reserve Bank of India (RBI), the country’s central bank, lifted a two-year ban stopping financial institutions from offering banking services to businesses dealing with cryptocurrencies.

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