• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Robocoin Bank, Will Convert Bitcoin ATMs inLocal Branches

newsbtc by newsbtc
7 years ago
in Cryptocurrency news
Reading Time: 2min read
Advertisement

Las Vegas-based bitcoin ATM manufacturer Robocoin announced Thursday that they’re taking their business in a whole new direction with the introduction of the Robocoin Bank — effectively becoming the world’s first bitcoin bank.

“The world’s newest global bank represents an evolution in Bitcoin and a potential disruption to the massive remittance industry. The Robocoin Bank is Robocoin’s vision for creating the best experience in all of Bitcoin and unleashing it for the masses,” the company said in their announcement.

The move is huge and unexpected, and affirms the company’s desire to become a leader in the bitcoin remittence space.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Since the company operates an army of bitcoin ATMs around the world, existing kiosks (the latest of which launches today in Seattle, Washington) will become Robocoin Bank local branches, which will be integrated with the company’s online banking services (where customers can manage their accounts).

“This will enable customers to manage their bitcoin easier and more securely than ever before,” the company said.

Robocoin Screen LG Bank

The aforementioned slew of Robocoin-manufactured bitcoin ATMs will get updated to work with the company’s banking service this summer.

Customers will be able to store, access, and send bitcoins to wherever a Robocoin ATM is located (almost serving like a mini Western Union, when you think about it). That money can then be converted immediately to cash if the recipient so desires. The sender can make this happen with their phone, a PIN, and their palm scan.

Bitcoins can be sent to phone numbers, so senders needn’t worry about addresses and QR codes. Also impressive: Bitcoins sent on the Robocoin network are transferred immediately, so there’s no need to wait for long confirmation times.

Three levels of authentication work in concert to safeguard a customer against fraud/theft (this includes a biometric palm vein scan). According to Robocoin, “Customers can opt into accounts that are either managed or unmanaged by Robocoin – with features from 100% cryptographic proveable reserves to unmanaged multisignature transactions.”

Key things to take away from the announcement (as noted by Robocoin):

  1. Robocoin Kiosks become Robocoin Bank Branches.
  2. Buying and Selling become Depositing and Withdrawing.
  3. Sending bitcoin to a public address becomes sending money to a phone number.
  4. Private keys and public addresses become Robocoin accounts–store and access your wealth with just your phone number, pin number, and palm scan.

“The Robocoin Bank has been a vision since day [one],” said a company spokesperson to NEWSBTC. “We hope to alleviate Bitcoin’s major pain points and barriers to adoption.”

“The goal has always been to bring Bitcoin to everyone and the Robocoin Bank is a leap in that direction.”

Robocoin Bank may very well be capable of changing the bitcoin remittence landscape, particularly for those who send money to family and friends internationally. Is this the future of bitcoin as we know it? You decide.

Users can get more information about Robocoin’s new banking service at roboco.in.

Tags: Newsrobocoinrobocoinbank
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

DAFI

How DAFI Protocol Rewards Long-Term Token Holders and Supports Sustainable Project Growth

9 hours ago
bitcoin and Ethereum macro beating

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

2 days ago
paradox

How Paradox Group Is Helping DeFi

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Bearish Correction Pauses: Focus Remains on Dollar and Yields

2 days ago
Cardano, ADABTC, ADAUSD, ADA, cryptocurrency

Cardano (ADA) Death Cross Spells Worries Despite Bullish “Mary” Fork

2 days ago
oddz

Leading on-Chain Option Trading Protocol Oddz Finance Announces Its Public Distribution IDO on Polkastarter

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

EcoCelium is Now Live – Ready to Mark the Next Step in DeFi

March 5, 2021

MXC Exchange Commits to Integrating USDC-SPL on Solana

March 5, 2021

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.