The Bitcoin ATM and Debit-Card Project is an effort to introduce bitcoin ATMs nationwide. The company also aims to release the first ever crypto-to-crypto debit card backed by the value of a new currency called CryptoCoins, or CCO.
The ultimate goal of Bitcoin ATM Project is based on two points :
- They want bitcoin ATMs to be implemented across the United States, making bitcoin accessible to every person in the country.
- They want a crypto-based debit card to be released that can be used at bitcoin ATMs, and at physical merchants and retailers worldwide
Bitcoin ATMs
There are two types of bitcoin ATMs which are :
- the Genesis1 (2-way ATM), the company’s flagship ATM
- Satoshi1, a 1 or 2 way ATM.
Some of the core features across both ATMs include:
- Aims to be the easiest and most convenient way to buy and sell bitcoins.
- The lowest fees, including just 3.5% to buy and 4.5% to sell
- No prior experience or technical expertise required
- The CryptoCoin debit card can be used at any of these ATMs
- Supports multiple cryptocurrencies
- Over 3,000 machine locations in the United States “coming soon”
Bitcoin ATM Debit Cards
Bitcoin debit cards can be used for cash withdrawal from bitcoin ATM’s as well as for payments at shops, websites, service stations, restaurants and other places. This Card enables to withdraw Bitcoin funds through local ATM independently and anonymously. Anyone can apply for this debit card who is dealing in bitcoin currency. The card is connected with Bitcoin wallet address. This card can be reloaded by simply transferring the bitcoin to the given wallet address. There are four ways to re-load this card. This is a real solution for your personal as well as business related needs. The cost of a Bitcoin ATM Card is $50.This only one-time payment and card will be for life. Some of the core features of the cards include:
- 50% discounts on ATM fees
- Unlimited 1% cashback on store purchases and 0.75% cashback on ATM transactions (cashbacks are received in the form of CryptoCoins tokens or CCOs)
- PIN and 2FA purchase protection
- Anonymous and private
- Compatible with existing merchant POS machines
- Instant withdrawals and purchases, with no waiting on confirmations
- Can be used worldwide
How to Use Bitcoin ATM and debit cards?
You can buy or sell bitcoin using the Bitcoin ATM Project’s machines. You don’t need to have a bitcoin address to use the machines. A lot of companies are now making bitcoin debit cards such as cryptopay, raxcard, bitpay etc. You can use your bitcoin wallet via any of these cards.
Limits and features:
The daily withdrawal and spending limit of this card is $10000 which is the same for maximum daily transfer. You can also check your account balance online whenever and wherever you want to.
Buying Bitcoins
- Insert your debit card and enter your PIN which is optional, or you can type your wallet address and private key ready on ATM screen. You can also scan the QR code provided by your wallet software/provider.
- Type your phone number and verify it by inputting the SMS code received.
- Choose the currency which you want to purchase, including bitcoin, Ether, Litecoin, CryptoCoin, and others
- Choose your destination address
- Insert cash
- Click “Finish”
Selling Bitcoins
- To sell bitcoins insert your bitcoin debit card and enter your PIN
- Verify the cell phone number
- Choose the desired cryptocurrency
- You can use a mobile bitcoin wallet or paper wallet or you can withdraw from your card
- Receive a receipt which contains a redemption code
- Wait for the blockchain transaction to complete, then click “redeem” to get cash
Who’s Behind the Bitcoin ATM?
The Bitcoin ATM Project is founded and led by Mark Caton (Co-Founder), Madison Kolarik (Co-Founder), and Seth Caton. The headquarter of the company is located in a production facility in the south of Pittsburgh, Pennsylvania. There are a number of bitcoin companies which provide with the facilities like bitcoin exchange, wallet provider etc. and located in the different parts of the world.
