12 Companies Merging Virtual Currencies and the ATM Business

April 7, 2016     By : Sofia

LocalBitcoins ATM is an affordable and robust machine for automatizing bitcoin exchange businesses. The LocalBitcoins ATM is unique because it does not require an Internet connection, but the exchanging happens on the LocalBitcoins website. The ATM works as a simple and safe cashboxthis makes the ATM very robust. The ATM has a 30-note recycler, which also increases maintainability and makes the process robust. The customers who withdraw can get the same notes that other customers deposit. The operator has to take care that he has enough bitcoins to sell, empty the cashbox when full, and take care that there are notes in the ATM for customers to withdraw.

CoinVault ATM intends to bring bitcoins and similar cryptocurrencies to everyone. The company is deploying its ATM kiosks for anyone to buy, sell, or trade bitcoins at their convenience. Based on the Robocoin system, CoinVault ATMs allow anyone in the world to access bitcoins with ease.

12 Companies Merging Virtual Currencies and the ATM Business

BitXatm offers SumoATM, a plug & play hardware and software that requires no technical knowledge to setup and operate. Its cost starts at close to €4,000. SumoATM comes with a full KYC/AML package, providing adequate compliance mechanisms to meet regulations in any jurisdiction. The company offers full 24/7 support. The company’s remittance and cross-border payments feature is scheduled for release in Q2 2016.

Bitaccess Inc. was founded in 2013 and is a privately held company headquartered in Ottawa, Ontario, Canada. The company produces bitcoin ATMs (BTM). The machines allow anyone to deposit cash and instantly receive a digital wallet containing the equivalent in the bitcoin cryptocurrency, or exchange bitcoins for traditional currency.

Project Skyhook offers an open-source commercial bitcoin ATM for everyone for $999. A touch-screen graphical interface makes it painless for customers to buy bitcoins, and use a QR code on their mobile device to send them instantly to the bitcoin wallet of their choice. Each Skyhook comes with a rugged security mounting plate to prevent physical theft. And a password-on-boot option means that even if it’s stolen, the users’ bitcoins are safe. Skyhook can accept US, Canadian and Australian Dollars as well as euros, yuan, Argentinian pesos, and dozens of other currencies.

Planet Capital offers an ATM kiosk thatalong with standard ATM featuresallows paying bills, transferring money, buying gift cards and more. It supports all existing virtual currencies and would support any future derivatives of virtual currencies if required. While custom steel protects from physical damages, the company promises that its state-of-the-art cryptography practices protect personal data. Both the kiosk and user interface are customizable to a client.

Lamassu offers three products: Douro, Santo Tirso and Braga. The company has created a bitcoin ATM machine that makes it incredibly simple to purchase bitcoins. The Douro is the newest model of the company’s original cash-to-bitcoin machine. The machine holds up to 600 bank notes and accepts currencies in nearly 200 countries. It supports leading exchanges, wallets and price feeds. Decentralized operation ensures no single point of failure.

Genesis Coin offers two versions of its bitcoin ATM: Genesis1 (two-way ATM machine) and Satoshi1 (one- or two-way machine). Genesis1 is a flagship product that has a high-capacity cash dispenser, bill validator, barcode scanner, EMV card reader and optional fingerprint reader.

Coinoutlet provides bitcoin ATMs to buy and sell bitcoins for cash. Bitcoins can be purchased or sold from company’s kiosk in seconds. Coinoutlet ATMs accept cash, and the purchased bitcoins are sent directly to the wallet that was scanned during the transaction.

General Bytes offers two bitcoin types of ATM machines: BATMTwo bitcoin ATM and BATMThree bitcoin ATM, along with other products. BATMThree is a bidirectional machines (cash-to-crypto, crypt-to-cash). It distributes coins from wallets or crypto exchanges and has an integrated bitcoin store. The machines can be managed remotely and is upgradeable. Promised to have no recurring expenses, the machine is multilingual and supports multiple currencies.

BitOcean produces bitcoin ATMs, which do not charge a fixed fee but take a calculated rate per bitcoin. The company’s machine works with any wallet users already have. They need to enter a bitcoin address, scan the QR code and specify the transaction amount. The ATM accepts and dispenses cash only in local currency, like any other ATM. BitOcean’s machines do not accept or interface with debit and credit cards or any other forms of payments.

Iberobit is an operator of bitcoin vending machines, which the company calls “Automatic Exchange Terminals.” They operate two-way and one-way machines and charge a 5% commission for both the purchase and sale of bitcoins.

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Sofia

Sofia is a contributing writer for LTP based in New York. She is a market research professional skilled in data analysis and visualization. Sofia has an extensive experience in consumer behavior studies and marketing analytics. She is passionate about disruptive startups with innovative business models that are having a powerful impact on the industries.

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