Robocoin debuts new "bank-like" bitcoin ATM

Home » Robocoin debuts new "bank-like" bitcoin ATM

atm-machinesLas Vegas-based bitcoin ATM maker Robocoin unveiled it’s next-generation machines today, the “Robocoin 2.0.” The two-way ATM features a new, more user-friendly software system and several hardware tweaks and upgrades from its previous model. The entire system has been overhauled, presenting a more bank-like experience for Robocoin “branch” customers. According to the company’s recently updated operator website, Robocoin has taken aim at the global remittance market, intended to reach the world’s billions of “unbanked.”

Robocoin’s network currently consists of nearly three dozen machines operating in 13 countries. Although there have been some complaints that new Robocoin accounts can be tedious to set up, due in large part to anti-money laundering laws, the company claims that their updated system has reduced this time to around 5 minutes. The new ATMs secure account data through palm-vein biometric authentication, as well as phone and PIN factors. Pricing data for the Robocoin 2.0 ATM has not been released.

The 2.0 update doesn’t mean that Robocoin is abandoning it’s old machines, however. The now rebranded “Robocoin Classic” ATM is still available, with prices starting at $15,000. These machines are also two-way, allowing deposits and withdrawals of fiat and QR-code bitcoin transactions. Another model, dubbed the “Robocoin Recycler Max,” uses state-of-the-art ATM technology to dispense up to the different denomination of currency. The Max is available for $35,000.

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