Bitcoin ATM aka Bitcoin Kiosk
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News
- Bitcoin ATMs in C-Stores in Texas Now – Chicago-based digital currency platform company CoinFlip announced in a press release Thursday that it’s working with Fort Worth-based Yesway to install 45 Bitcoin ATMs in several of its Yesway and Allsup’s stores across five states. Yesway has locations throughout the Midwest and Southwest, and it’s putting the kiosks in stores in Iowa, New Mexico, South Dakota, Texas and Wyoming.
- Digital financial assets law in California upheld — “The law’s common-sense restrictions, including a $1,000 daily limit at crypto kiosks, protect consumers from fraudulent transactions and limit the use of kiosks for illicit purposes. The Department will continue implementing this important legislation, which will strengthen responsible innovation in the state’s crypto industry and protect Californians,” said DFPI Commissioner Clothilde Hewlett.
- Minnesota New Crypto Laws — The new legislation requires all ATM operators to disclose full terms and conditions to customers and to warn them of the risks of fraud. It has also established a daily transaction limit of $2,000, which limits the amount that investors could potentially lose through fraudulent activity. This also helps curb money laundering activity.
Introduction
Ok, what about the ATM aka Kiosk? What’s the difference between them?
For reference we do keep a running blog on Flipboard covering Bitcoin and yes, even crypto in general..
Bitcoin kiosks look like traditional ATMs, but do not connect to a bank account and instead connect the user directly to a Bitcoin wallet or exchange. While some Bitcoin machines are traditional ATMs with revamped software, they do not require a bank account or debit card.
A BATM is a kiosk that lets you buy Bitcoin using an automatic teller machine or a dedicated Bitcoin Kiosk. Some offer both the purchase of Bitcoin as well as the sale of Bitcoin for cash. Bitcoin machines are the same as ATMs but are similar.
These kiosks are self-service machines connected to the Internet. You use cash or credit card in exchange for Bitcoin. They look like traditional ATMs, but they connect the customer directly to a Bitcoin exchange for a convenient way to purchase Bitcoin in person. Conventional interchange fees with banks are eliminated. Common locations are retail stores, shops, taverns, restaurants, malls or airports.
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