Blockchain Innovation has announced the official release of BitTeller, the world’s most affordable and portable bitcoin Automatic Teller Machine.
According to the official website, bitcoins can be purchased with cash with the help of BitTeller. BitTeller, which is simple, fast and secure bitcoin ATM can be carried around to different locations.
“After months of development, prototypes, and testing, we are proud to introduce the BitTeller ATM to the cryptocurrency industry. We strived to design an ATM that is affordable to even the smallest businesses or individual. I believe we have achieved that, and delivered a system that both users and owners will find simple to use, and most importantly, safe,” Blockchain Innovation CEO, Jonah Dorman said in the press release.
The process in which BitTeller works is simple, where the ATM owner loads the BitTeller’s wallet to the desired amount. The owner can then put the BitTeller in place of business, home, or meeting hall. It is then ready for anyone to purchase BTC with cash. At the end of the day, the owner can remove bills and reload the BTC if desired. The owner can be alerted via email notifications for issues such as a low balance, system errors, and daily status reports.
In order to ensure to keep BTC pricing accurate, BitTeller updates prices every two minutes from Coinbase. College bitcoin groups, local bitcoin meetups, coffee shops, retail stores, restaurants are among ideal places where BitTeller can be installed.
The ATM machine can be purchased through its website for $875. The machine is currently configured to process bitcoin only. The current BitTeller version 1.0 accepts only one coin and the website says that the new version v2.0 software will support multiple coins. BitTeller requires WiFi connectivity and has 1.3 GHz quad-core processor.
The founders of Austin, TX-based Blockchain Innovation have many years of experience in all kinds of development roles across industries. In business since 2015, the company has been involved in large mining operations, hardware sales, coin development and more for Bitcoin, Litecoin, and several other alt-coins.
BitTeller, the cryptocurrency ATM has been in production as of May 2016.