[2018-09-26] Lamassu Unveils New Line of Bitcoin, Cryptocurrency ATMs

[ivanpoldark]

On September 24th, Lamassu announced the introduction of their new line of cryptocurrency ATMs to the public. Lamassu calls its new line of ATMs, “Sintra.” The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.

GROWING INDUSTRY

According to CoinATMrader.com, there are currently roughly 3,750 crypto ATMs installed worldwide. Lamassu has been producing cryptocurrency ATMs since 2013 when they produced their first, which was called the Bitcoin Machine.

While that number sounds impressive, and the number of the crypto ATMs installed continues to grow steadily, it is important to put that number in context. Information from Data.gov, for example, indicates that there are over 5,500 bank-owned ATMs in New York State alone. Crucially, this ATM count does not include independently managed ATMs at convenience stores and other retail locations.

COST

Pricing for the new crypto ATM’s ranges from 5,200 EU for the cheapest Duoro II model, to 8,900 EU for the highest price Sintra Forte model. The mid-priced Sintra model costs 7,500 EU. The Duoro II model is the newest model of Lamassu’s original Crypto ATM, and features one-way fiat to crypto conversion, while both the Sintra and Sintra Forte feature two-way conversion.

Read more: https://bitcoinist.com/lamassu-new-line-crypto-bitcoin-atms/

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[Harlot]

The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.

I think they have the wrong vision here as Bitcoin atms would definitely only be used by people who already know what Bitcoin is. So if a regular person who is not aware what BTC is will only pass this by in a mall or worst mistaken these machines as a regular atm machine. In order for them to spread BTC worldwide they must be offering introductory classes instead of this kind of marketing. By giving classes to people they will surely benefit from it as they are increasing their chances of having a customer.

[1Referee]

The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.

I think they have the wrong vision here as Bitcoin atms would definitely only be used by people who already know what Bitcoin is. So if a regular person who is not aware what BTC is will only pass this by in a mall or worst mistaken these machines as a regular atm machine.

Even if people don't know what Bitcoin is, they will certainly be able to see that it isn't a regular ATM. On top of that, if a complete newbie at some point finds out about Bitcoin, that person will then finally know what that ATM is for and might even use it. It's all about reaching as many people as possible, and while you're right that these ATM's will mostly be used by existing Bitcoiners, it will help making the process of buying Bitcoin a bit easier for new users.

Exchanges have proven to be unreliable during peak moments, where wiring money to an exchange might take days, and these ATM's are perfect to counter that. Also, the more ATM's are available near people, the less they have to search for local sellers of Bitcoins, which is getting increasingly dangerous as time goes by.

[figmentofmyass]

The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.

I think they have the wrong vision here as Bitcoin atms would definitely only be used by people who already know what Bitcoin is. So if a regular person who is not aware what BTC is will only pass this by in a mall or worst mistaken these machines as a regular atm machine.

the more bitcoin ATMs they pass by, the more curious they might become. these ATMs are like straight up advertisements. i love seeing them in highly-trafficked areas, and i've definitely seen heads turn as people notice one for the first time.

i'm not a huge fan of the fees, so i wouldn't use them myself, but i'm all for increased accessibility and awareness.

[vit05]

The ATMs herald a new line of ATMs as another crucial step in crypto’s march towards widespread consumer use and accessibility.

I think they have the wrong vision here as Bitcoin atms would definitely only be used by people who already know what Bitcoin is. So if a regular person who is not aware what BTC is will only pass this by in a mall or worst mistaken these machines as a regular atm machine.

the more bitcoin ATMs they pass by, the more curious they might become. these ATMs are like straight up advertisements. i love seeing them in highly-trafficked areas, and i've definitely seen heads turn as people notice one for the first time.

i'm not a huge fan of the fees, so i wouldn't use them myself, but i'm all for increased accessibility and awareness.

I agree. The more people who see Bitcoin-related options around the world competing with traditional means of payment, the greater the chances of adoption. People are smart and it is very easy to find study materials on the internet.

About fees, I believe it will be a matter of competition. But these ATMs could have an arbitration system as well. Sometimes, it might be more profitable for people to come to her and convert fiat to bitcoin. Such a system with information available online could reduce even fiat replacement costs.

[Lucius]

It is always good to see that a BTC infrastructure becoming larger and more accessible, and BTC ATMs certainly contribute to that. But the very fact that we today have in total less then 4000 such ATMs worldwide and that only NY state have 5500+ bank ATMs speaks for itself. I think that is very easy to conclude how far we are from make BTC available to people, same as banks make fiat available everywhere through its ATMs.

Data from coinradar also show that almost 3000 BTC ATMs are located in USA&Canada, so rest of the world is far behind them. Big countries like India and Argentina have only 1 crypto ATM, and the question is if they actually work or not.

[Kprawn]

5,200 EU for a ATM is very expensive and it is no wonder ATM distribution is growing so slowly. I also cannot see why they

even want to compare Bank ATM and Bitcoin ATM totals, because Banks have had years to build their infrastructure, where

Bitcoin ATM's have only been around for the last 5 to 6 years.

We are getting there, but I still think these ATM's are too expensive and will never take off quickly in 3rd world countries.

[Lucius]

5,200 EU for a ATM is very expensive and it is no wonder ATM distribution is growing so slowly. I also cannot see why they

even want to compare Bank ATM and Bitcoin ATM totals, because Banks have had years to build their infrastructure, where

Bitcoin ATM's have only been around for the last 5 to 6 years.

We are getting there, but I still think these ATM's are too expensive and will never take off quickly in 3rd world countries.

This is the price for this mentioned models, but there is some other cheaper options which range from 3000$. If we know that the fees on crypto ATMs are pretty high, some ATM placed in a place with significant human traffic it can be fully paid off for a few months. Comparison between bank and crypto ATMs is just to show how far is cryptocurrency from fiat at this moment - you can find regular ATM almost at every corner which is not case with crypto.

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