LibertyX and Genmega have teamed up to make the purchase of Bitcoin (BTC-USD) using a regular debit card possible. 100,000 ATMs at 100,000 locations across the United States will now turn into BTC vending machines.
Genmega is a regular ATM manufacturer catering to independent ATM deployers at large and will add the feature of Bitcoin-buying at the ATM only if the operators offering the services are willing. Once the ATM operator makes the application, he will simply have to upgrade his software to allow buyers to purchase BTC from the otherwise regular vending machine and then send it to a virtual currency wallet.
User-Friendly BTC Vending Machine
This new development could serve as a boon to users especially because the process of purchasing BTC from ATMs is user-friendly, similar to the way people withdraw cash from the ATM machine. The Bitcoin ATM firm, LibertyX stated that they considered making virtual currency vending machines their top priority. The co-founder and CEO of the firm, Chris Yim said, “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.”
At present, the U.S. has around 2330 Bitcoin ATMs which is the highest in any country. Most of these BTC vending machines are in urban areas and major cities including Atlanta, Miami, Chicago, Los Angeles, and New York. Each of these cities has more than 100 vending machines. The leading manufacturer of Bitcoin ATM, Genesis Coin Inc. with around 32% market share belongs to the United States.
Whale moves $194 million BTC for just 10 cents
Just as the possibility of BTC vending machines is creating a ripple in the crypto market, similarly, the moving of $194 million worth of BTC by a whale, meaning a big customer, for just 10 cents in 30 minutes caused a lot of excitement recently. Many virtual currencies slowly are coming out with how they transferred huge amounts in a very short time at a cheaper rate. XRP Capital’s Michael Arrington told Steven Diep that he used Ripple technology to move $50 million in XRP (XRP-USD) in just 2 seconds.