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Bitcoin ATMs are spreading around the world at an incredible speed.
Bitcoin ATMs are spreading around the world at an incredible speed. Manufacturers like Robocoin and Lamassu have already sold hundreds of their machines to international companies fond of cryptocurrencies. Brand new locations to place BTMs are being discovered on a daily basis, and believe it or not, local businesses are often more willing than notable corporations to go crypto.
Recently launched this past August, CoinOutlet is hoping to crack the BTM market with its affordable machines. Eric Grill, CEO for CoinOutlet talked in an interview about his company and about his take on dealing with the competition.
With Lamassu and Robocoin already in the lead, CoinOutlet will have to deal with quite a lot of challenges. Grill underlined that his company is different, and he emphasizes that the CoinOutlet ATMs are pretty straightforward to use.
“You use them right away, you don’t have to wait or give your bank account information.”
The two-way (KYC – know your customer compliant and AML – anti-money laundering) machines are available for purchase, 10 of the units being already prepared for shipping. As for an average price, a CoinOutlet ATM sells for $8,000 and it has both digital and local currency support.
CoinOutlet CEO, Eric Grill, mentions that BTMs are still in their early stages, and companies should want to try them out as they can be used for multiple purposes. A restaurant could easily install a Bitcoin ATM and use it as a POS (point of sales) and digital currency exchange. On a global scale, BTMs can be used as physical exchange points for precious metals, commodities and additional items a user would want to trade. However, there’s a lot of uncertainty in the US, which means this functionality is unlikely to hit the market any time soon.
Hawaii makes us think of palm trees, hula dances, happy people, and perfect weather. Bitcoin and other technologies related to the blockchain may be seen as bizarre by some locals. In spite of several strict laws and regulations, it’s the remote location that gives businesses an incredible opportunity – to be unique.
Hawaii’s first Bitcoin ATM machine was recently launched in an antique shop, the Hawaiian Island Stamp and Coin. Who would have thought that a Bitcoin dispenser (a technological innovation) will be placed in a shop where people come buy really old coins (among other old things)? The people at Pacific Blockchain wanted to display a bit of ingenuity, and so they decided to mix the old with the new, and launch a BTM in an antique shop. That’s quite interesting actually!
The organizers behind the Bitcoin CEE Conference, GreCom has just launched a two-way Bitcoin ATM in Slovenia. The machine is the first in the country and it will be placed in Hotel Slon, where the cryptocurrency conferences take place. Manufactured by BitAccess, GreCom offers business development services for BitAccess in the Adraitic region.
Swiss restaurant, Kafi Schoffel, located in Zurich has just launched a Bitcoin ATM manufactured by the famous Lamassu Company. Apparently, the machines only works with paper wallets customers can get them from the restaurant’s staff.
CaVirtex is super excited to announce that their BTMs are now up and running. The company already placed several machines in major locations in Niagara Falls, the Toronto Area and Ottawa. Cryptocurrency fans can use Canadian dollars to purchase bitcoins using a mobile phone. CaVirtex highlights that its machines are linked to their exchange, thus offering customers the best execution from the country’s largest Bitcoin exchange.
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