Bitcoin ATM-maker Coin Outlet buys LibertyX network

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Yim said LibertyX has 19, outlets in brick-and-mortar stores, where customers can instantly buy the cryptocurrency. For two finance geeks formerly in venture capital and private equitybitcoin was the most interesting innovation we had seen in our lifetime. Everyone thought we were crazy when we dropped out to start LibertyX.

There are regional bitcoin ATM operators that have a few machines here and there, but we are the only retail network liberty x bitcoin locations a national scale. Our success is due to our unique offering of convenience, responsive customer support, and instant settlement.

According to the locator, it appears you have about 12 outlets in the Philadelphia area. How do you decide where they will be placed? Yes; I do want to point out that we liberty x bitcoin locations not offer kiosks anymore. We sold our physical kiosks and moved to an asset-light software model, where stores offer our platform at their existing POS terminals. Our goal is to have LibertyX stores all around the country, so you are never more than a few blocks away.

We built our proprietary software platform that lets local stores offer LibertyX as part of their payment services. Who is the typical LibertyX user? Younger financial technology aficionados? Also, anyone that would traditionally buy gold. What information does a customer have to provide to use a bitcoin ATM? Does LibertyX ask for more detailed information than other providers? The same information that you would provide when opening a bank account name, phone number, address, birth date.

We take a conservative approach on compliance and ask for more information liberty x bitcoin locations most bitcoin ATM operators. It is not possible to use LibertyX anonymously. Users need to have verified LibertyX accounts before they can make a purchase at one of our stores. The information requested varies depending on how much bitcoin the customer wishes to purchase. Purchasing bitcoin is easier than you think, and you can go from zero to having bitcoin in a few minutes.

Our goal is to be as inclusive as liberty x bitcoin locations, so we let the user pick the wallet they want to use; all they need to provide is their bitcoin address. Our stores receive a convenience fee per transaction. LibertyX takes a 1. Who sets the exchange rate, or transaction fee, for each machine? How do those fees compare with other money transfer options?

Our exchange rate is an average rate based off an index of some of the most popular bitcoin exchanges. In general, the fees are a lot lower than you would pay for sending money internationally using Western Union. What are the advantages to using bitcoin and LibertyX over other money transfer options? A bitcoin transaction is instant, lower cost, and irreversible. An international money transfer that previously would take a week and cost 10 percent can be done in seconds for cheaper.

Why should average consumers consider using bitcoin or LibertyX services? Unlike other online services that can take over a week for a bank transfer to clear, with LibertyX you can have bitcoin before you leave the store.

We do not publicly disclose our financials, but we have certainly benefited from the increasing public and institutional interest liberty x bitcoin locations bitcoin and blockchain. We are the largest retail bitcoin exchange in the U.

Our store network is magnitudes larger than our competitors. We are always looking to add passionate individuals who want to help build the future financial system. In particular, we are looking to bring on additional liberty x bitcoin locations stack developers and regional sales reps.

How do you foresee the experience changing for the consumer over the next 10 liberty x bitcoin locations How will bitcoin affect us? Liberty x bitcoin locations will still be people using bitcoin for its store of value gold bugs and high-inflation economies. They will just experience the blockchain-enabled benefits from financial-service providers, including faster money transfers, lower transaction fees, increased transparency, etc.

Were you surprised to see liberty x bitcoin locations value of bitcoin take off so astoundingly? Has the liberty x bitcoin locations sparked more interest in LibertyX? We are big believers that public blockchains will play a big role in the future financial system. It is still early.

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LibertyX operates the largest cash-to- bitcoin onramp network in the US. Liberty Teller was founded in and was part of the MassChallenge accelerator program. In December , the company announced its retail store expansion allowing consumers to purchase bitcoin in-person at over 2, stores nationwide.

LibertyX currently operates as a bitcoin purchasing service. Users have to provide and use their own bitcoin wallet to receive the purchased cryptocurrency. The company is partnered with bitcoin exchange and financial service providers such as Uphold [12] to provide a suite of services for the cash-preferred customer. The company has a cash API for partners to build and develop applications to access the cash-preferred customer. LibertyX has raised seed funding from Project From Wikipedia, the free encyclopedia.

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