Bitcoin ATM’s are becoming increasingly popular in many countries and almost weekly there are stories about new ATM’s being installed in some exotic city. This also means that the Bitcoin ATM competition have increased significantly and that the producers have to figure out new ways to ensure that it is their ATM that will be sold.
Las Vegas based Robocoin is one of the more well known Bitcoin ATM producers. They have just announced that they will be lowering their operation fee to 0% for life, to make their product more competing and become more competitive on the global market. Robocoin previously took up to 34% of the fee’s that the operator charged for people using the ATM.
Operators can now buy a lifetime license for $10,000 until April 30th, where they will skip this fee forever. Another option is to buy the ATM at $20,000 and pay 1% of all fee’s to Robocoin. Jordan Kelley, CEO of Robocoin, said to Coindesk:
“Our goal of the company is to ensure that our operators are profitable, that they’re operating at the best prices and that we’re building our network around the world.” Kelley believes that in order to push Bitcoin forward the industry needs to have lower fees, making it easier for everyone to adapt to the cryptocurrencies.
When asked about why operators should choose Robocoin over other companies, Kelley responded:
“You want a machine that has longevity, a machine that doesn’t require you to stand next to it, a machine that can auto-enroll customers with full know your customer (KYC) and anti-money laundering (AML) compliance so that you’re protecting yourself from any regulatory scrutiny.”
You can read more about Robocoin and their CEO here.