Three cryptocurrencies that has caught people’s attention in the past year; Bitcoin, Ethereum, and Ripple. The financial news is dominated by the cryptocurrency while the concept of blockchain dominates the technology world. People want to work on the blockchain from around the globe and be a step ahead on the cryptocurrency bandwagon. Though 51% (approx. 3.7 Billion) of world’s population use the Internet in 2017, a significant chunk of this population is not able to understand the concept of internet connected devices or do not understand the process of setting up a cryptocurrency wallet.
There is a vast untapped market that has potential users who do not have an idea of buying
Cryptocurrencies. However, most people in this category lack the patience and know-how to set up a fiat to cryptocurrency exchange, leaving a mostly untapped market.
There are few questions that arise when you want to capture an untapped
potential market.
a. Is there a way to bring the potential users close to cryptocurrency?
b. Is there a way to reduce cryptocurrency jargons to make it more user-friendly?
c. Can it be used like traditional fiat currencies without knowing the technological know-how?
d. Is Cryptocurrency ATM the Solution for the above questions?
A Cryptocurrency ATM is a machine that is connected to the internet allowing a person to exchange Cryptocurrency and cash. Unlike the traditional ATM linked with the bank account, a Cryptocurrency ATM is related to your Cryptocurrency exchange. All a user needs to do is put cash and receive Cryptocurrency and vice versa.
A Cryptocurrency ATM may seem unnecessary and inconvenient, however, it can be an invaluable resource and an asset. It is the best way for your the neighborhoods to acquire cryptocurrencies. The simplicity of the process, i.e., putting
cold, hard cash for the cryptocurrency, making the process more user-friendly for technological people. There are two types of cryptocurrency ATMs as of now :
Coinsource ATMs - These ATMs helps to exchange for fiat currency to cryptocurrency and vice versa.
Drone ATMs - A Drone ATM is used to deliver secure cryptocurrencies instantly to your neighborhoods as well as companies.
Cryptocurrency ATM is the right response to the issue of substantial untapped and potential user base, especially in the developing countries. While, this will free people from banking barriers, users must be careful about using digital wallets as they are targets of hackers and digital thieves.
At Blockchain App Factory we work to develop customized blockchain solutions and cryptocurrency development. Contact us for your customized cryptocurrency solutions :