Crypto ATMs: The Portals to the Cryptocurrency World

By Coinmatics on The Capital

The devices are in demand because:

  • People are now able to buy cryptocurrencies for cash fast.
  • Cryptomats are promising for those in small business.

Structure of a Crypto ATM

  • Choose a cryptocurrency type available to purchase, see its current price;
  • Insert an amount of coin to buy, see their total cost with the fee added;
  • Insert a wallet address or scan a QR code;
  • Pay a required amount through the cash acceptor or with a card;
  • Receive purchased digital coins on your wallet.
  • Choose a cryptocurrency and enter into a supply contract;
  • Enter an agreement on the installation of an ATM in a shopping mall or another crowded area;
  • Set up software and connect an ATM to an exchange;
  • Organize a regular cash collection;
  • Monitor the business via a smartphone app.


Verification standards

Advantages of cryptomates in banking

  1. It is a brand-new branch of the financial industry, which allegedly will overtake the current financial system in terms of both volumes and popularity.
  2. It solves one of the main cryptocurrency problems (namely underdevelopment of UX and a user environment in general), which provides new players with a competitive edge.
  3. It grants leading positions in the financial and legal regulation of cryptocurrency-connected operations. The compliance of KYC and AML is provided by state-of-art technological solutions.

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