October 15 — Boston, Ma.-based LibertyX and Genmega, Hayward, Calif., announced the launch of America’s first debit Bitcoin ATM. Consumers using these ATMs can use their debit cards 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.
Chris Yim, co-founder & CEO at LibertyX, said, “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 company feels this new functionality will benefit consumers, ATM operators and merchants. 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, LibertyX’s release states. 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.
For merchants and ATM operators, LibertyX can be enabled without any upfront cost or new hardware.
“ATM operators are always looking for ways to grow volume and transactions,” said Wes Dunn, senior vice president of sales at Genmega. “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 operators ‒ ensuring they stay ahead of the market and bring added value to consumers.”
Interested ATM operators can request an application at addlibertyx.com. Merchants should contact their ATM operator about adding Bitcoin to their ATMs.