If there’s one thing we can be sure of in the bitcoin community, it’s that bitcoin ATMs have become big business. With a number of different players, seemingly all have devices that are in high demand.
GenesisCoin is no exception.
We first heard about this company several weeks ago when it was announced that two of the company’s machines would be making their debut in Tijuana, Mexico at a business center. One is being used for USD transactions, the other in Pesos.
“The response has been overwhelmingly positive — a few people traveled across the border and from further South in Baja to come check them out,” said company chief Evan Rose to newsBTC.
What’s interesting about these machines is that their capabilities extend beyond just bitcoin. Genesis1 ATMs can also process litecoin and dogecoin transactions.
“I’ve been told two Dogecoin fans picked up some Doges, and there was a Litecoin sale as well,” Rose told me.
Each Genesis1 machine starts at $14,500, which may seem pricey, but compared to other options might be considered cheap. By comparison, Las Vegas-based Robocoin is selling their ATMs for about $20,000 per unit.
Rose said his company as already received orders from prospective operators in Washington, D.C., Pennsylvania, and outside of the United States in places like Canada, Australia, Brazil, and as far east as Hong Kong and South Korea.
The idea is to become a physical one stop shop for one’s crypto-currency needs.
“Long-term we want to provide as many cash [to] crypto-services as possible under the Genesis umbrella — it’s an evolving ecosystem and we want to be on the forefront of the physical infrastructure market,” said Rose. “I feel our product excels from a software standpoint in that we allow our operators full brand ability, extensive liquidity options (hot wallet/exchange/combination) and our hardware is a full 33% lower in cost.”
Certainly, some big things ahead in the crypto ATM space. Could GenesisCoin become in the leader in the space? Time will tell.