A few hours ago, KIOSK Information Systems, the largest custom self-service solution provider in North America announced their new partnership with the Bitcoin ATM pioneer, Bitstop. The goal of this partnership is the creation of a large Bitcoin ATM network enabling customers to easily buy and sell digital currency on any location.
This new partnership for KIOSK came from the fact that the Bitcoin ATM Industry, has grown from nothing five years ago to over 4,000 Bitcoin ATMs in 2018 according to Doin ATM Radar. In addition, growth projections for this new niche ATM category are expected to exceed 10,000 installations worldwide in the next two years alone.
On the solution partnership announcement, KIOSK CEO, Bill Butler, stated, “We’re excited to partner with Bitstop on this Bitcoin ATM solution. They have a great reputation in the Bitcoin space and are one of the premier operators in the Crypto ATM industry.”
On the other hand, Andrew Barnard, Bitstop’s Co-Founder, said:
Our goal is to sell thousands of Bitcoin ATMs globally over the next few years… This solution partnership combines Bitstop’s four years of experience developing and operating a fleet of 100 Bitcoin ATMs with KIOSK’s 25+ years of industry-leading design and engineering experience. The end result is a simple, secure, and reliable Bitcoin ATM exchange platform that is beneficial to both the consumer and the deploying retailer.
As a first step for this partnership, KIOSK will be featuring the newest Bitstop ATM model at the 2019 NRF Big Show in booth #3755.
More about Bitcoin ATM
A Bitcoin ATM is a kiosk that allows a person to exchange Bitcoin and cash. In addition, Bitcoin ATMs offer bi-directional functionality. This enables both the purchase of Bitcoin as well as the sale of Bitcoin for cash.
Despite the fact that those machines look like a typical, traditional ATMs, they are connected to the Internet allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain. Moreover, instead of the connection to a bank account, the Bitcoin kiosks connect the user directly to a Bitcoin exchange.
The number of Bitcoin ATMs is booming, worldwide. Most of them are located in the united states with around 3200 ATMs, according to Coin ATM Radar.
For a real user experience using Bitcoin ATM check this video https://www.youtube.com/watch?v=xajKjxxRL04.