Hottest New ICO of 2017 — Bitcoin ATM Project
Tom Clancy on 31/10/2017
The future of cryptocurrency is here — Bitcoin ATM’s
The Bitcoin ATM Project’s vision is to have a cryptoATM in every neighborhood across the United States — and you can be a part of it.
Bitcoin ATMs are the fastest, most convenient way to purchase or sell Bitcoin and other digital currencies. These ATMs allow users to buy Bitcoin, or withdraw funds instantly as cash. The problem today is that not enough of these ATMs exist to be commonplace among the average user.
The Bitcoin ATM Project seeks to change this — by distributing Bitcoin ATMs across the United States, expanding until there is at least one machine in every county and county-equivalent across the entire nation. This would allow easy access to cryptocurrency trading to everyone the country — making Bitcoin ‘mainstream’ and taking the world of crypto to a whole new level.
“We want to reach the underbanked and unbanked population, those who have difficulty gaining support from banks or financial institutions, to be able to have the ability to store their finances as well as begin investing in the lucrative world of cryptocurrency. We want people to realize, hey there are opportunities out there, you still have the chance to obtain wealth by investing in Bitcoin and other cryptocurrencies,” CEO Mark Caton said in a press release.
Bitcoin ATMs have tried and true profitability, with current operators in North America reporting average monthly revenue of up to $100,000 per machine.
Most existing machines have steep fees ranging upwards of 10–25%. These high fees push many current Bitcoin holders away from the idea, where they would rather use online exchanges with lower fees to buy and sell. The Bitcoin ATM Project plans to change this — by releasing machines with fees of less than 5%. “Competitive fees will draw in current Bitcoin traders, increasing our userbase and revenue for the company. Coinbase, one of the major online exchanges, charges 3.99% to buy Bitcoin with a credit or debit card. By matching these fees, and providing the convenience and privacy of an ATM machine, we want everyone to be using Bitcoin ATMs as their primary method of exchange — current Bitcoin users and nonusers alike.”
Bitcoin ATMs nationwide are a niche that has yet to be filled — which is rare for any business market today.
Currently 13 states don’t have any ATMs at all, and at least 15 more only have a small handful each. The benefits of having more machines are endless, and their presence and use could dramatically change the landscape of today’s economy. “We plan on targeting these areas first, building up a network filling the need for convenient access to Bitcoin where it’s demand is the highest and most needed. Then we will expand into the major cities that already have Bitcoin ATMs and take over the market by providing reasonable, competitive fees.” The Bitcoin ATM Project is raising funds to distribute these ATMs through an ICO (initial coin offering) (link: www.bitcoinatmproject.com/tokensale/), backing their use with a new currency — CryptoCoins (CCO).
CryptoCoins are a revenue sharing token, giving investors a return based on part of the Bitcoin ATM transaction fees, in the form of quarterly dividends.
1% of the transaction volume for ATM usage is collected in a portfolio called an Asset Contract. Fees are collected in the currency used for each transaction, building a diverse return for investors. The contents of this portfolio are distributed quarterly (four times a year) to CryptoCoin holders on a pro-rated basis, based on how many CryptoCoins they own. The CryptoCoin supply is limited — with only up to 8 million being sold during the sale. The more funding raised is equal to more machines being initially purchased and distributed, making this ICO the ‘perfect’ token sale.
The ICO will allow the Project to raise funds to initially purchase anywhere from 200 to over 1,000 machines. The Project team is made up of local business owners, code developers, graphic designers and marketers who share a common dream — making Bitcoin accessible, easy to use, and understandable for everyone in the country. The team already owns a warehouse in Pennsylvania that is currently being converted into a full-service Bitcoin ATM facility — allowing them the ability to process, design, and distribute hundreds of machines at a time.
The Project plans on expanding until there is over 3,000 ATMs in operation nationwide — with investors in the ICO receiving quarterly dividends forever. Within a few years these returns could be tremendous!
As an additional perk for investors, a CryptoCoin Debit Card is being sold during the ICO for a low minimum purchase amount, which gives users a 50% discount on ATM fees and cash-back in the form of CryptoCoins when it is used for ATM transactions or purchases at supporting merchants. The first 500 customers purchasing a Debit Card get an Elite upgrade — this card entitles holders to a lifetime 100% discount on ATM fees and double cash-back.
Get in on the Token Sale now, the Pre-Sale is currently open where CryptoCoins can be purchased at a 25% discount. Payments are accepted in a variety of cryptocurrencies including Ether and Bitcoin among several others, as well as fiat methods credit/debit card or ACH bank transfer. The ICO ends on December 10th, 2017. For a review of the ICO, check out a Youtube video-report by CryptoChaperone.
Make sure to check out the Bitcoin ATM Project Website and Whitepaper for further details.
You can also follow them on Twitter and Facebook, or check out their blog on Medium for more information.
From CryptoCoinsNews: https://www.cryptocoinsnews.com/hottest-new-ico-2017-bitcoin-atm-project/
