Last updated on October 18th, 2017 at 04:27 pm
Bringing Bitcoin to the masses in the form of an ATM is a fantastic way to bridge the traditional financial system and the new breed of disruptive technology we know as cryptocurrency. For those of you who know the average cost of buying a actual bitcoin ATM, you’re aware that it is not a cheap venture. Plus, you’ll need to put it in a place where there’s a lot of traffic and bitcoin awareness to attract potential customers. But what if there was a way to upgrade existing ATMs to use bitcoin? Well, dream no longer, because thanks to the good folks at Robocoin it is now possible to turn any ATM into a machine that will buy and sell bitcoin.
Bitcoin ATM provider Robocoin started up shop nearly two years ago, and today, the company has announced a software pack that will enable any ATM to accept, dispense or transfer money with Bitcoin. They’re calling it Coin SDK. The software is part of the company’s mission to bring the power and ease of bitcoin to the world. Essentially, if you have an ATM, you will be able to buy and sell bitcoin through it using Robocoin’s software.
According to the documents, the software appears easy to install. The ATM operators only need to “drop” the software into the existing software, similarly to installing a plugin. As long as the machine can accept and dispense cash, the software will allow bitcoin transactions. The best part is that all the transactions are identified and managed through a wallet system. This means the operator can run the machine without a high level of technical experience.
Robocoin has managed to get several bitcoin ATMs installed around the globe. The company even managed to get one situated in the center of the infamous gambling mecca, the Las Vegas Strip. Robocoin is aware that although well-designed hardware is great, the ability to build and support a developed SDK is a perfect way to expand their business and bring bitcoin to new levels of adoption. However there is one more hurdle to cross – Robocoin still needs to sell the SDK to the ATM operators. Although it seems like a no brainer to some bitcoin enthusiasts, it may be a hard sell to other people.