BOSTON–Through a new partnership, two companies say they have launched America’s first debit Bitcoin ATM solution.
LibertyX and Genmega said consumers are now able to use their debit card to purchase Bitcoin at up to 100,000 ATMs in the U.S. Through this partnership, any Genmega ATM can enable the LibertyX capability and start selling Bitcoin to consumers via a simple update process, the company said.
“This breakthrough benefits both consumers, ATM operators and merchants,” the companies said. “Consumers and those new to Bitcoin will appreciate the familiarity of the ATM to help lower the learning curve when trying out new cryptocurrency technology. Additionally, cryptocurrency enthusiasts, will now be able to purchase Bitcoin from their neighborhood ATM instantly. The buying process is very similar to withdrawing cash from an ATM, except instead of cash being dispensed, the customer will receive Bitcoin.”
“We has 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 through the timeless ATM,” said Chris Yim, co-founder and CEO at LibertyX, in a statement.
According to the two companies, for merchants and ATM operators, LibertyX is a revenue-generating product that can be enabled without any upfront cost or new hardware.