Lamassu Announces Official Support for Ethereum
Ethereum support will soon be available on over 160 Lamassu Bitcoin ATMs worldwide
Three years after selling the first Bitcoin ATMs, Lamassu machines will have an Ethereum option on their machines to complement the veteran cryptocurrency. Though currently in beta with select operators, support of the $1B new crypto on the block will soon be available as an option on the 160 independently owned Lamassu Bitcoin ATMs worldwide.
Ethereum has some advantages over Bitcoin with crypto ATMs. Perhaps most important is the shorter confirmation times for cash-out transactions. While Bitcoin users must wait an average of 10 minutes before cashing out their cryptocurrency, Ethereum users should expect a considerably shorter wait time of 15 seconds. Additionally, for cash-in transactions, users will be able to spend their coins almost immediately after receiving them. This makes for a more viable option for spending at a cryptocurrency-accepting café or convenience store.
“At a time when Bitcoin ATM use is at an all-time high, quicker confirmation times are invaluable.” says Lamassu CEO Zach Harvey, “It simply makes our machines more useful, especially for cash-out.”
“Our customers have been requesting the ability to buy ether, and we’re proud to announce that we have been working closely with the talented people at Lamassu to provide this functionality to the communities that we serve.”
Coinucopia, Lamassu’s largest operator in the US, is also eager to implement Ethereum buying on their machines
“We are very excited to announce that Coinucopia will be integrating Ethereum into our network,” says Michael Portabello, Coinucopia’s spokesperson. “Our customers have been requesting the ability to buy Ether, and we’re proud to announce that we have been working closely with the talented people at Lamassu to provide this functionality to the communities that we serve.”
Lamassu has also made their software more adaptable to future cryptocurrencies and Ethereum tokens such as Zcash and Digix. Ultimately the independent operators will decide which cryptocurrencies and tokens their machines will support.
“This is an important step for us.” says Harvey. “Whether it’s cash to smart-contracts or enhanced privacy, users will have more and more uses for our Crypto ATMs. We’re entering an era of smart tokens and specialized cryptocurrencies and there is no easier access to these than our machines.”
Bitcoin ATM users interested in buying or selling ether should ask their local Lamassu operators if they have plans to implement Ethereum on their machines. A map of live machines is available on our site: lamassu.is/maps
For press inquiries: firstname.lastname@example.org