US bitcoin ATMs ‘now total over 100,000’

October 16, 2018
Chris Wheal

Debit card bitcoin purchases from regular automated teller machines (ATMs) have become a reality, following the recent partnership between ATM operator GenMega and cash-to-bitcoin onramp network LibertyX.

The collaboration allows US consumers to buy bitcoin from numerous cash machines using their debit cards.

A press release issued on Monday and published by Finextra stated that all GenMega ATMs in across the US are now essentially bitcoin ATMs. Based on the partnership, GenMega ATMs will now offer LibertyX as an added feature and debit card bitcoin purchases can be made from any GenMega cash machine in the US.

The partnership is the first of its kind in North America. According to Coinatmradar, there were previously over 2,300 BTC ATMs across the country. However, the partnership means that more than 100,000 Genmega cash machines in the US can now function as BTC ATMs.

Simplifying purchases

Commenting on the partnership, LibertyX co-founder and chief executive (CEO), Chris Yim, said: “We have 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.

“One fundamental benefit of this new arrangement is the simplicity it brings to the BTC purchasing process. Most people familiar with how to work a cash machine should have little problems buying BTC from a regular ATM using this LibertyX interface.”

GenMega senior vice president, Wes Dunn, added that the new arrangement benefits all stakeholders. He commented: “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 operators ‒ ensuring they stay ahead of the market and bring added value to consumers.”

 

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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