Bitcoin ATM market gets a boost from new kiosk, software venture

Bitcoin ATM provider Bitstop has partnered with Kiosk Information Systems, a provider of custom self-service solutions, to create a bitcoin ATM platform that lets customers buy and sell digital currency on the spot, according to a press release.

The companies will exhibit the kiosk at the NRF Big Show, Jan. 13-15, in New York City, according to a press release.

The bitcoin ATM Industry has grown from nothing five years ago to more than 4,000 machines in 2018. Growth projections for the niche category are expected to exceed 10,000 installations world-wide over the next two years, the release said.

«We’re excited to partner with Bitstop on this bitcoin ATM solution,» KIS CEO Bill Butler, Kiosk CEO said in the release. «They have a great reputation in the bitcoin space and are one of the premier operators in the crypto ATM industry.»

Bitstop co-founder Andrew Barnard said his company’s goal is to sell thousands of bitcoin ATMs globally over the next few years.

«[W]e predict that within five years, it will be normal to see a bitcoin ATM when you’re out shopping, traveling or pumping gas,» he said. «To get to that point, we know it must be incredibly easy for the consumer to use, and for the retailer to operate. This solution partnership combines Bitstop’s four years of experience developing and operating a fleet of 100 bitcoin ATMs with Kiosk’s 25-plus years of industry leading design and engineering experience. The end result is a simple, secure, and reliable bitcoin ATM exchange platform that is beneficial to both the consumer and the deploying retailer.»

Source: ATM Marketplace