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Despite the current bear market

It is impossible to say how increased use of criptos will affect the price. The launch of missiles that the cryptos experienced in 2017 was not supported by a massive increase in use, but now it seems that the encrypted adoption is constantly increasing.

According to a recent report by the Coin ATM Radar aggregator, the number of cryptographic ATMs has just surpassed 4,000 units globally. Instead of following the encryption prices downwards in 2018, the number of ATM encryption is actually increasing. In fact, according to the report, almost 5 ATMs of cryptos have been added to the global fleet on a monthly basis.

Cryptocurrency Adoption ATM

It is even more impressive that the ATM encryption stock is increasing despite their legal status in countries such as India. Most encrypted ATMs are in North America. Coin ATM Radar claims that 71.8% of encrypted ATMs are in North America, with 56% in the United States and 15% in Canada. Europe has 23% of the encrypted ATMs in the world and Asia has just 2.6%.

Crypto Adoption has marginal loads

Oceania, South America and Africa all have some ATM cryptocurrencies, but they do not see the adoption rates that are happening in the most developed areas of the world. It is worth mentioning that in two of the world's most populous nations, China and India, the cryptos are fundamentally illegal.

Bitcoin ATM

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The developers of the first Indian ATM Cryptocito were arrested last November in Bangalore on criminal charges related to the "ATM" label applied to their machine. The developers of the machine claim that their product was not strictly an ATM, but apparently, it was close enough to be involved in the Reserve Bank of India (RBI) crackdown on something cryptic last year.

China and India need financial innovation

At first sight this type of treatment would seem negative for cryptosides. In the short term, it will maintain a nation of over a billion people from the use of freely encrypted, but could lead to a wave of adoption encrypted later. Many of the citizens of India are "without a pension" and could benefit from the access to financial services created by the encrypted.

India has struggled with corruption and tax evasion. Since most Indians can not afford to use the banks, it is stuck in a monetary economy that has some major disadvantages. Cryptos could solve these problems, but it seems that the Indian government and the RBI are not willing to allow the encrypted entrepreneurs the freedom to innovate.

Ripple keeps going strong

Ripple could be the best example of an encrypted company that was able to bridge the gap between the established financial system and the emerging crypto universe. Ripple announced last week that 13 new companies have signed up to use their RippleNet payment network, which brings the total number of companies on RippleNet to over 200.

The company claimed that JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank will use cross-border XRP payments instead of going through traditional channels. XRP transfers are almost instantaneous, which eliminates the FOREX risk associated with the SWIFT system. In addition, it saves companies waiting days for their funds, as banks use an archaic system that emerged at the same time as the modem.

Ripple's CEO, Brad Garlinghouse, wrote that,

"The Swift media transaction takes three days, but actually what we are seeing is three working days, you are taking the risk of fiat volatility, while the markets are closed over the weekend."

The real loser of all this will probably be the international banking system, and in particular the SWIFT system. While SWIFT has worked on a blockchain-based transfer platform, they are unlikely to be able to compete with companies like Ripple, which is years before anyone else and has already cemented relationships with industrial groups such as the R3 consortium.

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