Bitcoin

New Deal May Turn 100000 ATMs into Bitcoin Vending Machines

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A new partnership deal between bitcoin ATM firm LibertyX and traditional ATM manufacturer Genmega may launch a project which will make it possible to purchase bitcoin with a debit card at more than 100,000 ATMs around the United States.

The reports disclosed through the tweet from LibertyX official twitter account where they teamed up with a regular ATM manufacturer company Genmega to make it possible for the public to be able to buy bitcoin from thousands of locations in the U.S. with the use of a debit card. It will surely be a big project which can create a much-needed momentum for crypto among the laymen.

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tweet from LibertyX

But since the ATM manufacturing company Genmega works with independent ATM deployers, the decision to whether they wish to add the crypto feature will depend majorly on the operators of those ATMs. If all of their prospects agree to do the same, they will have to install an application program which will be made by the companies in their ATMs in the form of a software upgrade.

The application upgrade would later allow the ATM to fuel in the necessary features for cryptocurrency services where they will let the user buy bitcoin from the vending machines, as well as send bitcoin to their cryptocurrency wallet as well.

The focus of their partnership project is to allow the users of cryptocurrency with rather a user-friendly approach so that they can deal with purchasing bitcoin as easily as they would receive cash from their nearest traditional ATMs. As LibertyX claims, building a friendly and useful system for bitcoin purchase has always been their main focus since the foundation of the company.

Bitcoin Vending Machines

Chris Yim, CEO, and co-founder of LibertyX revealed in the statement, “We have been working tirelessly to make it easier to buy cryptocurrencies for the last five years and now are bringing simplicity, convenience, and trust to the cryptocurrency purchasing experience.

As for the current scenario for the United States, it hosts more than 2330 bitcoin ATMs which is the highest number than another country in the world. Leading cities of the country such as Miami, Long Angeles, Chicago, and Atlanta are the ones with at least 100 vending machines among each city.

Several factors make the United States the leading name when it comes to hosting bitcoin ATMs. It is home to one of the largest companies of bitcoin ATM manufacturers called the Genesis Coin Inc. Other than that, the high level of awareness and adoption in the country might be less than China or Japan, is still a major contributing factor.

The crypto experts believe that these scenarios will only increase with time and the U.S. will continue to dominate the market when it comes to hosting cryptocurrency ATMs for the foreseeable future. However, we still don’t know as of how many among the 100,000 prospective ATMs will take the bitcoin deal; even a small percentage can make a difference in the global number.

Margi Brambhatt

Margi has done diploma in Mass Media & Journalism. She has previously worked as a freelance reporter for various famous Finance media platforms. When she is not writing or editing others reports, you can find her engulfed in reading books. She believes in reporting content which is 100% well researched. You can also mail her at [email protected] to discuss anything related to her reports.

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