Bitcoin ATM Kiosk & Bitcoin Kiosks in Grocery Stores

By | January 26, 2019
Bitcoin ATM Kiosk

Bitcoin ATM Kiosk

There are few familiar places in the regular life of a consumer other than the grocery store, and that familiarity can breed a type of trust, a sense that nothing too weird or threatening will happen there. That doesn’t mean they can’t be about innovation. Supermarkets are home to some of retail’s major and ongoing […]

Source: www.pymnts.com

Not sure I see the worth and payback either. Grocery stores still use Redbox DVD dispense.  Coinstar reminds me of digital signage (in search of an ROI).

What is a Bitcoin ATM

From Wikipedia — A Bitcoin ATM (Automated Teller Machine) is a kiosk that allows a person to purchase Bitcoin by using cash or debit card. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account to transact on the machine.

There are two main types of Bitcoin machines: unidirectional (one-way) and bidirectional (two-way). Only about 30% of all crypto ATMs worldwide are bidirectional,[1] and less than 23% in the U.S.[2] Both types are connected to the Internet, allowing for cash purchase and/or sale of Bitcoin. Some machines use a paper receipt and others move money to a public key on the blockchain. Bitcoin cash 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 ATMs are traditional ATMs with revamped software, they do not require a bank account or debit card. According to an advisory issued by the Consumer Financial Protection Bureau, “they may also charge high transaction fees – media reports describe transaction fees as high as 7% and exchange rates $50 over rates you could get elsewhere”.[3]

More information

Bitcoin ATM Kiosk Patent News – Bitcoin Capital Group Claim

Bitcoin ATM Bitcoin Kiosk News – Bitstop and KIOSK Information Systems Bitcoin ATM Partnership at NRF Big Show 2019

Author: Kiosk Industry

Kiosk manufacturer experience since 1993. Engineer for Verizon Bill Pay kiosks while at KIS in Colorado. Extensive device knowledge for printers, scanners, currency, PCI, ADA, touch screen technology, outdoor, biometrics such as fingerprint and IRIS. Runs and manages the current kiosk association, KMA. Works with U.S. Access Board on ADA and accessibility. PCI SSC participating organization. Member of National Retail Federation (NRF) and National Restaurant Association.