Crypto ATMs- Their Role In The World of Bitcoins

January 21st, 2020

In this world, there is nothing that comes easy and there is absolutely no free lunch as you have to always pay for everything you ask for. Bear in mind that if you get anything for free then your freedom is going to be the cost and nobody would want that to ever happen, would they? 

It matters not what you are born, but what you grow up to be is what everybody remembers you for as that will not only shape your own destiny but that of the world as well as it is the children who are considered the tools that are going to build the future of the nation that they hail from. 

You must have frequently heard of the phrase that this is a small world and everyone has to fulfill the goals they are destined for here itself before moving on to the afterlife via death. 

It is no secret that the world is full of cut throat competition in every field and youngsters do not get the position that they have visualized themselves right from childhood through their ambitions and end up with whatever that comes their way. 

It is indeed sad, that many talented and hardworking individuals have lost out on their goals in life due to the above factor and are into jobs that are far below their dignity and standards. 

Fortunately, there came a ray of hope for all with the new revolution of digital media with the advent of the 21st century as everything started going online which included the job market. 

The bitcoin revolution that began in the late 2000s changed the shape and destiny of many people across different parts of the world and began to occupy centre stage amongst other things as many youngsters went from being paupers to princes. 

What is bitcoin? Why is it so important of a topic to discuss about that it merits a full fledged article in its name? 

Bitcoin is basically defined as crypto currency or, you can say, decentralized currency that is not registered under any central bank that can monitor it but has carved out a network of its own with no room for middlemen or intermediaries. 

Crypto currency is seen as the future centralized currency that has come up with high hopes of replacing the official currency in the near future. Yes, you read it right, its ambitions are so high that it has dared to dream of becoming a legal tendor bill which can be used to purchase and sell goods and services across the world due to its sheer innovative scheme that has indeed proven to be quite successful ever since its inception. 

Its success ratio has been carefully followed by the federal governments of all nations that some of them have indeed pondered over the thought of making it legal currency and replace it with the currency of the nation that they are governing at the moment. 

Crypto currency is one that consists of different types such as bitcoinsetheriumlitecoinbitcoin cash, monero, ripple, dash, to name a few. 

Similar to cash that is maintained in a wallet, this type of currency itself has a cryptocurrency wallet to its name that is designed to keep tabs on who all use, spend and purchase digital currencies every now and then from different parts of the world. 

According to a recently conducted survey, there are more than 5000 machines that dispense cryptocurrency across the world which are quite similar to automatic teller machines (ATMs) that dispense cash and there are new ones in the pipeline that are currently in development phase.

 

These are called Crypto ATMs and today we are going to talk about its 5 types than can be purchased today: 

  1. Lamassu: It is an Israel based company that basically manufactures cryptocurrency ATM and is the first one that could purchase and sell currency which now has various models to its name that have proven to be quite a money spinner. It has more than 450 different locations across the world. 
  1. General Bytes: It is based in Prague and has been in business since 2014 that were the first to add communication to their models. 
  1. Sumo ATM: It has more than 70 ATMs across various locations where purchases can be made through the logo itself 
  1. Bitaccess: It is Canada based and has around 200 locations to its name as given in the bybit review 
  1. Genesis Coin: It has a unique feature that can validate bills