Germany-based BitXatm has announced that it will be shipping over 1000 ATMs overseas, which will form the largest Bitcoin ATM network in the US.
It comes as part of their announced partnership with CryptVision, a US-based Bitcoin ATM company that would distribute and service the units in the US. BitXatm CEO Gabriel Prodanescu explained:
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“We strongly believe that BitXatm represents an essential element of the new ecosystem, providing the public with the easiest way to buy bitcoins – something that held back wider adoption of bitcoins in the past. Our response is to have increasingly more BitXatm machines deployed in the field, hoping to expose our Sumo Pro machines to a large segment of the population and show their practical side from up close. That will be our contribution to overall visibility and availability of bitcoin economy among the general public.”
BitXatm’s website showcases the units, called “Sumo Pro”, which can be customized by color. A set of machines can also be purchased at a discount, and branded for a particular business under the “White label” program. Standard units carry a price tag of 3900 euros + VAT.
Indeed, it has been argued that the relative unease of being able to buy bitcoins quickly and easily has held back the technology from gaining widespread recognition. Like a cash ATM, a Bitcoin ATM can potentially make the cryptocurrency more available. While Bitcoin ATMs already exist, they are few and far between. Most of the US population does not have access to one within their vicinity. The addition of hundreds of units throughout the country may reverse this cycle.