On July the 7th, Blockchain Innovation announced the official release of a revolutionary Bitcoin Automatic Teller Machine called BitTeller. BitTeller is an ATM designed to provide the possibility of buying bitcoins in a safe, comfortable, and fast way using cash.
It is a small, portable device (its dimensions are H: 11.5″ x W: 6.25″ x D: 7.5″) but it is also powerful and aims to become a more compact solution to the currently prominent ATMs.
The owner of the ATM loads up the wallet with the desired amount of Bitcoins and puts the device in place for business, home or a location for any person to purchase bitcoins using cash. The device has a slot with a banknote reader and a storage capacity of 500 bills. At the end of the day, the owner of the ATM can remove the bills and reload the wallet for the next day.
BitTelller connects with Coinbase every two minutes to be up-to-date and accurate with pricing and exchange rates. It also sends alerts via email: Low balance, System failure, and Daily status notices. BitTeller also allows ATM owners to customize their pricing by adjusting how much they earn with each purchase.
Jonah Dorman, Blockchain Innovation’s CEO said:
After months of development, prototypes, and testing, we are proud to introduce the BitTeller ATM to the cryptocurrency industry. We strived to design an ATM that is affordable to even the smallest businesses or individual. I believe we have achieved that, and delivered a system that both users and owners will find simple to use, and most importantly, safe.
BitTeller claims to be perfect for College Bitcoin groups, local Bitcoin meetups, coffee shops, retail stores, or restaurants.
Image via Shutterstock.
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