Coinme ATMs Let Anyone Purchase Bitcoin with Cash
Coinme
Bitcoin
3 years ago
1 QCP
Coinme ATMs Let Anyone Purchase Bitcoin with Cash and Makes Cryptocurrency More Accessible via a Partnership with Coinstar
In a Nutshell: While cryptocurrency aims to democratize the world of finance, those who are underserved or unbanked often cannot access digital currencies. Coinme is making it easier than ever to purchase cryptocurrencies through its Bitcoin ATMs, in partnership with Coinstar. The ubiquitous grocery store kiosks make cash purchases of Bitcoin easy. A Coinme survey revealed that about two-thirds of respondents are using Bitcoin to purchase goods and services or sending Bitcoin abroad to friends and family. Coinme also educates customers through its Private Client service that facilitates Bitcoin transactions higher than $2,500.
One of the major drivers behind the concept of cryptocurrency has always been the democratization of the financial ecosystem. Crypto and its underpinning blockchain technology are meant to take the power away from traditional financial institutions and place it in the hands of the people.
And it does — as long as those people have access to a computer or smartphone, a bank account, and a little technical know-how to navigate the world of crypto.
Maybe cryptocurrency isn’t the great economic leveler after all, but companies like Coinme are working hard to bring it much closer to that ideal with its Bitcoin ATMs that allow people to simply insert cash and purchase crypto.
“Coinme was founded back in 2014,” Sung Woo Choi, Coinme’s VP of Business Operations and Corporate Development. “We were the very first licensed Bitcoin ATM company in the United States. We got our money transmitter license only about three or four months after Coinbase.”
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https://www.cardrates.com/news/coinme-allows-people-to-purchase-bitcoin-with-cash/
In a Nutshell: While cryptocurrency aims to democratize the world of finance, those who are underserved or unbanked often cannot access digital currencies. Coinme is making it easier than ever to purchase cryptocurrencies through its Bitcoin ATMs, in partnership with Coinstar. The ubiquitous grocery store kiosks make cash purchases of Bitcoin easy. A Coinme survey revealed that about two-thirds of respondents are using Bitcoin to purchase goods and services or sending Bitcoin abroad to friends and family. Coinme also educates customers through its Private Client service that facilitates Bitcoin transactions higher than $2,500.
One of the major drivers behind the concept of cryptocurrency has always been the democratization of the financial ecosystem. Crypto and its underpinning blockchain technology are meant to take the power away from traditional financial institutions and place it in the hands of the people.
And it does — as long as those people have access to a computer or smartphone, a bank account, and a little technical know-how to navigate the world of crypto.
Maybe cryptocurrency isn’t the great economic leveler after all, but companies like Coinme are working hard to bring it much closer to that ideal with its Bitcoin ATMs that allow people to simply insert cash and purchase crypto.
“Coinme was founded back in 2014,” Sung Woo Choi, Coinme’s VP of Business Operations and Corporate Development. “We were the very first licensed Bitcoin ATM company in the United States. We got our money transmitter license only about three or four months after Coinbase.”
...
https://www.cardrates.com/news/coinme-allows-people-to-purchase-bitcoin-with-cash/
- ATM
- Strategic partnership
- Unbanking
- Financial system
- Bitcoin purchase
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