Bitcoin has grown a lot bigger since it started, the number of people using bitcoin has increased exponentially except for the number of merchants accepting it. Also, the inherent properties of this digital currency has made it one of the most favored currencies among tourists as it saves them the hassle of currency conversion and other charges associated with it. Moreover it is safer to carry bitcoin than fiat currency while in a new place.
However, the lack of merchants accepting bitcoin makes it necessary for bitcoin users to exchange it to local fiat currency. Using online bitcoin exchange is more time consuming as they have to wait for the money to be credited to their account and then withdraw it using conventional means. Bitcoin ATMs or Bitcoin Teller Machines (BTMs) offers an easier and a faster way to exchange bitcoin to fiat currency. The process is almost instantaneous, offering a lot of convenience to bitcoin users which includes both tourists and locals alike.
TowerBTM is one of the latest players in the BTMs sphere. The company has been innovative in designing the BTMs. These machine stand apart from most of the other BTMs currently installed across the world.
TowerBTM is a Romanian startup founded and operated by Miklos Istvan along with Gabi Petrut and Sergiu Vlad. TowerBTM offers a complete end to end solution, including installation, maintenance, after sales support and value management of its BTMs. The company is sourcing hardware parts from JCM Global and assembling them according to TowerBTM’s specifications. These BTMs are powered by Lamassu Open Source Software and ships across the globe through well-known logistics players like DHL, UPS, TNT and more.
TowerBTM’s devices are two way bitcoin ATMs with 10-inch IPS touch screen. It has a built in industrial scanner and lighting mechanism that allows flawless scanning of QR codes, barcodes and identification cards in any light setting. The company has plans to integrate more features in the coming days, which includes Ethereum Support, print paper wallets, exchange between ethereum and bitcoin and so on. Each TowerBTM unit costs less than $6000 (including taxes).