GenesisCoin's cryptocurrency ATM's are the new talk of the town, after they just installed two cryptocurrency ATM's in Tijuana, Mexico. What makes GenesisCoin's ATM's different from other Bitcoin ATM's is the fact that they don't just work with Bitcoins, but also alternative cryptocurrencies such as Litecoin and Dogecoin as well as different fiat currencies.
Due to this, GenesisCoin have experienced a massive demand for their business, having orders for the next 12 ATM's just a few weeks after releasing the first two. They have received inquiries from multiple states in the US as well as from countries across the globe.
"The response has been overwhelmingly positive — a few people traveled across the border and from further South in Baja to come check them out,” CEO of GenesisCoin Evan Rose said to btcnews. He noted that its ability to integrate other altcoins is what seems to have attracted all the attention and said;“I’ve been told two Dogecoin fans picked up some Doges, and there was a Litecoin sale as well,” referring to the first two machines in Tijuana.
While the GenesisCoin ATM is not the cheapest on the market, it is fairly decently priced at around $14,500. Some Bitcoin ATM's costs from $5,000, while Robocoin's ATM costs $10,000-20,000 depending on the licensing agreement. The owners of the ATM's will then make their money back through processing fees for those using the machine to buy cryptocurrencies.
“Long-term we want to provide as many cash (to) crypto-services as possible under the Genesis umbrella. It’s an evolving ecosystem and we want to be on the forefront of the physical infrastructure market,” Rose said and added;
“I feel our product excels from a software standpoint in that we allow our operators full brand ability, extensive liquidity options (hot wallet/exchange/combination) and our hardware is a full 33% lower in cost.”.