Not only do ATMs for cryptocurrencies have many options for different currencies, but they also have a high in regard to the fees involved.
Cash is the king and you find that this saying goes way further in emphasizing the importance of any financial system liquidity. Even if Bitcoin is consistently progressive in a faster and altcoins are at the moment are being developed to cover the gap of a myriad business uses, the entire cryptocurrency industry (and particularly the mainstream users adoption) stands on the ability it has to make transactions secure and safe.
This is what gives the recently Bitcoin planned fork motivation, the lightning, and Raiden as well as other parts of the project that are looking to make use of cryptocurrencies simpler. But for many people, especially those who are getting into cryptocurrencies, the easiness that comes with the fiat ATM is a feature that cryptocurrencies cannot match.
Not only do ATMs for cryptocurrencies have many options for different currencies, but they also have a high in regard to the fees involved. They also limit the amount of money that can be used for. Note that there some ATMs that can also be used while buying crypto.
A European company believes that they have what will make changes with the introduction of the advanced ATMs for cryptocurrencies. These ATMs have been found to leverage various efficiencies in hardware and exchange to reduce the fees and make cryptocurrencies trading easier especially for obtaining mainstream users. Cointed is an example of a platform that encompasses an exchange, ATMs, point of sale, and a debit card solution for a merely different experience.
A Mature Ecosystem For Cryptocurrency Exchange
If you take close look on the most successful and established platforms like Google (including Android and AdWords) and Facebook (including Messenger and Instagram), you will find that they use multiple aspects that utilize synergies to drive value to the user. Cointed is utilizing several benefits they have up on their sleeves to ensure their ecosystem is more beneficial.
Instead of making ATM hardware or software, they are using both, while also offering a wallet and exchange for users. Cointed mine and premises from there or have an optimized hardware that they send to their customers.
This move focuses on efficiency and is also true for their technical operations. Moreover, you find that Cointed also has an advanced air cooling mining facility, which helps to save on the energy expenditure something that makes their ATM exchange and network more efficient.
Economies Of Scope And Economies Of Scale
They have also broadened the use of ATM by offering more options (including Litecoin and Ethereum) than the other ATMs. Developers and businesses can enjoy the easier interaction with their systems and exchange with the help of the PayCo API that Cointed provide. To make the whole process straightforward there is a Cointed debit card that users can make of to avail this.
The aspects of Cointed setup that is so promising is the up, running and operating company that acts as a roof of design that they have established. While the biggest number of ICOs are owned by companies that are yet to come up with a functioning product, Cointed is a fully established enterprise with their operations already running in many countries with more to be added in the near future.
The funds that the company intends to solicit from ICO will be pumped into expanding their ATMs penetration worldwide and also in refining the underlying technology that will lead to lower fees and greater efficiencies.