Consumers who use Genmega ATMs will now get access to Bitcoin as well. The company has partnered with LibertyX to start selling Bitcoins via its ATMs. There will be zero upfront costs and hardware adjustments, and the process could be completed at 100,000 automatic teller machines across the US with a simple update process.
Debit Card Purchases for Bitcoin
Users can buy Bitcoin on Genmega ATMs using their debit cards, making it the first such service in the US. The facility will be available at over 100,000 locations across the country. LibertyX will enable Bitcoin purchases on all locations. Its co-founder and CEO, Chris Yim, talked about debit card Bitcoin buying saying:
“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.”
The move by Genmega will help several new customers adopt Bitcoin. The crypto buying process is similar to that of withdrawing cash. The users will feed their debit card to the machine and buy Bitcoin instantly. The familiarity of an ATM will be helpful in shortening the learning curve for newly christened users. For crypto enthusiasts, it could be yet another opportunity to buy Bitcoin quickly and easily.
Big Win for LibertyX
LibertyX helps merchants and ATM operators generate more revenue by offering digital currencies to their users. This partnership with Genmega can help them expand their reach to thousands of customers in the US and spearhead Bitcoin adoption.
The Boston-based company is the largest retail Bitcoin exchange in the US and also provides a mobile app for buying cryptocurrencies instantly at local stores. It launched the first cash-to-Bitcoin ATM in the US in 2014. With the new Genmega partnership, the company could create a stronger network for people who want to buy Bitcoin right in the vicinity of their homes.
Wes Dunn, SVP of sales at Genmega, talked about the partnership and said:
“ATM operators are always looking for ways to grow volume and transactions. We are excited to work with LibertyX on this new initiative that will drive additional foot-traffic to merchant locations and provide added revenue to our operator’s ‒ ensuring they stay ahead of the market and bring added value to consumers.”
Genmega ATMs Will Now Offer Crypto Purchases to Customers was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.