Coinnective Installs Cleveland’s First Bitcoin ATM

The United States keep on adding more and more Bitcoin ATM’s to its repertoire, as there is still much uncharted territory where Bitcoin has not made a splash just yet. Cleveland in Ohio used to be one of those places, but things might change very soon now that its citizens can start using their very own Bitcoin ATM which has been recently installed.

Another Notch in the Belt for General Bytes

Contrary to the battle of Bitcoin ATM manufacturers going on over in Manhattan = where Lamassu is duking it out with SkyHook – the machine installed in Cleveland is a General Bytes ATM, It has to be said though that General Bytes also installed one Bitcoin ATM in Manhattan, as we mentioned in this article.

Cleveland’s Bitcoin ATM can be found over at Everything Computer & Electronics in Lakewood, which lets users buy Bitcoin in exchange for fiat currency seven days a week. It is important to note however that this Bitcoin ATM has a daily buy limit of US$2,500 in place, which means customers will have to access the machine early to avoid a delay in purchasing Bitcoin from the device. Speaking of purchasing Bitcoin with fiat currency, this Bitcoin AT charges a 5% fee on all transactions.

In order to comply with the KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, the General Bytes Bitcoin ATM in Lakewood has a built-in document ID scanner and an also read your fingerprint. It looks like customers who want to buy Bitcoin above a certain limit will need to provide a document to verify their identity, which is then taken a screenshot of with the webcam built into the Bitcoin ATM.

Coinnective – Making It Easier to Buy Bitcoin

Coinnective is a new initiative in the world of Bitcoin, with the main focus on making it easier to buy Bitcoin. Furthermore, Coinnective also offers professional custom Bitcoin integration services for merchants. In order to do so, the company integrates Bitcoin and other alternate digital currencies as a payment solution.

Bitcoin ATM placement is one of the multiple ways to make buying Bitcoin easier for customers all around the world. The General Bytes Bitcoin ATM in Cleveland – which is operated by Coinnective – is the first device of many more to come to bring Bitcoin and everyday users closer together. Do keep in mind that these Bitcoin ATM’s will only placed at your location if you are an eligible merchant.

Last but not least, it is also possible to buy Bitcoin directly through the Coinnective website by filling in a small form. Orders with a value of US$1,000 or above will need to attach a copy of their ID in order to comply with KYC/AML procedures. Customers have a three hour window in order to deposit the money per the instructions emailed by Coinnective, otherwise the order will be cancelled. Deposits that are not paid in cash will not be processed and simply returned to the original sender.

Detailed instructions on how to buy Bitcoin from Coinnective can be found here.

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