The Boston company that launched the first United States bitcoin ATM, LibertyX (formerly Liberty Teller), has announced its national expansion plan. The new plan will span the nation, including 33 states at over 2,500 locations. LibertyX will allow customers to locally purchase bitcoin quickly, safely, and conveniently.
Customers will, effective immediately, be able to purchase bitcoin using cash. For new customers, a LibertyX Bitcoin Pin is purchased from the cashier. When the pin is redeemed online, bitcoin is immediately sent to the address you provide. This transaction is instant, in-person, and without a bank. Users may also scan a paper or digital wallet and have the funds sent in under 30 seconds.
“After our installations at MIT and Harvard, we were inundated with requests to place LibertyX bitcoin ATMs across the country,” said co-founder and MIT alumnus Chris Yim. “We spent the last several months building a highly scalable bitcoin purchasing solution to address these previously underserved markets. We are excited to launch this new retail store channel that removes access as a major remaining barrier of bitcoin adoption.”
Over 80,000 companies accepting bitcoin, including Dell, Expedia, Overstock, and PayPal. The MIT Bitcoin Project provides $100 of bitcoin to undergraduate students and can be spent at the MIT bookstore. Bitcoin continues to trend towards mainstream.
Co-founder Kyle Powers adds, “We’ve been the go-to bitcoin solution for thousands of consumers already from our modest base of 4 machines. That successful proof of concept set the stage for this integration, which will help us grow by a several orders of magnitude. We continue to believe the cash channel is important for bringing bitcoin to those who will benefit from it the most.”