Open Bitcoin ATM transacts Bitcoin with pre-rendered QR codes stored locally on the machine. While there are tradeoffs, this approach has four important advantages:
1) Significantly reduces cost and complexity of ATM platform.
2) Eliminates security, performance, latency, and uptime risks associated with network connection.
3) Makes transactions very fast and convenient (no need to access blockchain with every transaction).
4) Allows for ATM operator to mitigate risk of Bitcoin currency fluctuation.
5) Mitigates risk of loss due to theft.
While the QR codes are pre-rendered and stored on the ATM, the BTC value is not. This means the wallet value can be updated anytime before the QR code is dispensed.
For further precision and control, QR code inventory may be time boxed (future dates and times) and the BTC value assigned according to the spot rate just prior to the time box. This is a convenient way to mitigate exchange rate risk.
Could you supply a kit that accepts Japanese yen?
Unfortunately, the shipping costs are very high to Japan and Europe. We hope others will create a Japanese Open Bitcoin ATM and a European Open Bitcoin ATM!
How many are the shipping costs for Europe?
How about I provide you with Fed Ex account number so that you may ship it collect. Also, I will make full payment in advance in Bitcoin. Would the yen-model be possible then?
My Company wants to buy several of these from you for production use in malls in the Philippines. How can we get started?
Where can someone buy the parts from this project?
How would Ethereum be adapted as one of the acceptable output coins/codes?
Yes it could be adapted for Ether.
Create a batch of Ether private keys, then follow the directions here:
Also need to create an Ether logo.oba so the printout looks nice.
Can you provide 3 of these ATMs for use in MEXICO? The bill changer is all that would have to be changed. And the language in Spanish…
What would the costs be?
Hi. How can i oder a kit?
does really change fiat money into Bitcoin? I didn’t see a bitcoin wallet address, why the device has not internet connection? How data are sent to buy/sell platform?
Has it a direct, that is decentralized buy/sell system or something like this?
Can this device be programmed to process also more than a crypto currency, for example Bitcoin and Monero?
Answers to your questions here:
Does it work also with EUR?