NCR Atleos launched a new feature that allows users to exchange BTC to cash via ATMs in 30 U.S. states. Transactions are conducted through the LibertyX app.
NCR Atleos Corporation, a leading provider of self-service financial technology solutions, announced the launch of LibertyX Bitcoin Cashout, a new feature that enables customers in the U.S. to sell BTC and receive cash at ATMs.
To complete the transaction, users should use the LibertyX mobile app. Then pre-select the ATM where they’d like to receive the cash. The ATM must be equipped with Atleos’ API ReadyCode software interface, which is displayed in the app. Next, users send BTC to the specified address. Once the transaction is confirmed, they receive a special one-time access code. After scanning the code at the designated ATM, users can instantly receive cash for selling BTC. There’s a $400 limit on cash withdrawals using the access code at ATMs, but it’s possible to make multiple transactions using different codes.
The new feature will be available in 30 U.S. states in the first phase of the rollout. According to Stuart MacKinnon, Chief Operating Officer of Atleos, the company currently operates more than 280,000 ATMs in the U.S.
Chris Yim, General Manager of LibertyX, noted that one of the barriers to greater consumer adoption of Bitcoin is the difficulty of quickly and easily converting the cryptocurrency into cash. He also emphasized that with LibertyX Bitcoin Cashout, users will no longer have to wait several days for bank transfers or use complicated transfer schemes to exchange BTC for cash.
Analysts predict that by 2027, the crypto ATM market size could reach $472 million.
