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A new player has entered the Bitcoin ATM market, as BitOcean announced yesterday in an official statement that they have made their very own two-way Bitcoin ATM. The ATM is made to compete with ATM’s like Robocoin’s and can comply with fraud and laundering laws.
BitOcean is based in Beijing and has developed the second generation of their Bitcoin ATM’s there, including plenty of new features. Users will be able to buy and sell their Bitcoins more or less instantly, making it easy for everyone to get into the industry and start investing and spending.
As the machines are fully compliant with the laws and jurisdictions around the world, the company expects for several Bitcoin interested companies to pick up their machine. Firstly they are going for the Asian market however, being able to provide great tech support for their customers.
The Bitcoin ATM has been tested for the past couple of months and brings an experience that is very similar to going down to a bank. During the testing period the safety features were upgraded and the time a withdrawal takes were put down to around 30 seconds.