Automatic Teller Machines, known across the world by its abbreviation – ATMs were revolutionary machines that made banking convenient for billions of individuals across the world. ATMs made people avoid visiting their bank branch for regular cash withdrawal, deposit, check deposit and other transactions. Today ATMs are prevalent, with at least one ATM in each block.
Banks are adding new features to their ATM networks, enabling people to even pay their utility bills, recharge the phone credit etc. With Bitcoin being referred to as the future of currency, a handful of companies have introduced Bitcoin ATMs as well, These Bitcoin ATMs are of two kinds, one -way Bitcoin ATMs and two-way Bitcoin ATMs. AS the name suggests, one-way Bitcoin ATM allows users to buy bitcoin against cash or card payment, while two-way ATMs allow the exchange of fiat to bitcoin and vice versa.
Bitcoin ATMs are not uncommon anymore. Many universities and malls already have Bitcoin ATMs installed on their premises. Bitcoin has already established itself as the leader of cryptocurrency. Now, we have another crypto technology based platform which is making waves in the crypto-tech sphere. The new crypto platform is known as Ethereum and its crypto-tokens are called ether. The latest development in the crypto and ATM industry is the introduction of Ethereum ATM. Even though the core principle behind the development of Ethereum network is completely different from that of Bitcoin, they both share similar distributed ledger system called blockchain. Ether on Lamassu
The first Ethereum ATM was reported in a blog post by Ether Camp. It is a modified Lamassu Bitcoin ATM capable of supporting both crypto currencies. According to Ether Camp , the open source code used by Lamassu can be modified to work with Ethereum platform. In addition to dispensing ether, the ATM machine can […]
