In this interview streamed live on 16 October 2018, we have a chance to hear Martijn Wismeijer from General Bytes answering questions about Bitcoin ATM’s.
Martijn states that he got into crypto somewhere in 2010, while he was designing home banking systems. When he discovered Bitcoin, he thought it was like Napster for cash and, as he says, he was hooked from day one. Eventually, he started operating Bitcoin ATM’s. Before he joined General Bytes, he did the marketing for them, but as he says, that was easy since you have a great product to sell. He also points that, although he considers himself as a Bitcoin maximalist, their ATM’s embrace all crypto, and it would be bad if they were to decide for their customers on what crypto to use. The company grew over 5 years and now they are 29 people working for General Bytes.
Since launch of Bitcoin in 2009 cryptocurrencies gain more and more traction every year. Many people hear and research cryptocurrencies when next boom happens and price grows rapidly. Significant number of people already hold cryptocurrencies, even more plan to hold in the future.
Disclaimer: This article is not a financial advice to invest in cryptocurrencies. Reader needs to conduct own research before purchasing any amount of cryptocurrencies and understand the risks associated with it.
With quick expansion of bitcoin machines locations, they become more and more available to general public. One of the bitcoin ATM use-cases is investing in bitcoin.
In this part we discuss advantages of bitcoin ATMs and also reasons why bitcoin has value and worth investment.
Advantages of bitcoin machines
The clear advantage of using a bitcoin ATM vs. online exchanges is verification time (exchanges usually take longer, when you register for the first time). Another advantage of bitcoin machines is ability to purchase BTC much more easily and quickly as you deal with cash exchanged to bitcoins (immediately), comparing to sending a wire transfer to exchange first and then waiting for it to get received and credited to your exchange account before you can trade.