LibertyX, America's first and largest network of Bitcoin ATMs, cashiers and kiosks, announced that it has added Bitcoin sales options at thousands of ATMs.
LibertyX has enabled Bitcoin withdrawal at 5,000 ATMs in the United States, according to the announcement on the social media platform Twitter on October 26. In this context, consumers will now be able to sell Bitcoin for cash at any of the participating ATMs.
LibertyX CEO and co-founder Chris Yim previously said that the firm's software only supports Bitcoin purchases with debit cards. This latest implementation will allow investors to sell their Bitcoins for cash.
Yim said in his statement that Bitcoin is currently reaching annual highs and made the following statement:
With the price of Bitcoin rising, consumers are looking for a way to sell Bitcoin without the hassle of wire transfer or wire transfer delays. This caused us to reveal this application.
Yim said that the feature of selling Bitcoin on ATM is currently supported by a limited number of ATMs in the US compared to Bitcoin purchases:
Although buying bitcoins has never been easier, selling is another story. There are around 15,000 Bitcoin ATMs in the US, but less than 2,000 allow consumers to sell Bitcoin for cash.
Yim also stated that with cash out products placed in 5,000 ATMs, consumers tripled the number of Bitcoin ATMs that they can sell Bitcoin, and that they further their mission of placing Bitcoin in each block.
In the statement made, it was reported that Bitcoin sales to be made at ATMs will be subject to certain fees. According to the data obtained from LibertyX's help desk, it is seen that the consumer fee in LibertyX's Bitcoin ATMs is determined as 8%. Yim said LibertyX BTC price at ATMs is based on a stock market index that closely tracks COINBASE consumer prices.
About LibertyX
LibertyX is America's first and largest network of Bitcoin ATMs, cashiers and kiosks with thousands of locations in 44 states. LibertyX recently caught the attention of the media in October 2020, shortly after the Tesla Fremont Gigafactory in Nevada claimed to have an operational Bitcoin ATM. LibertyX representatives also said that the company activated BTC sales and purchases at three ATMs accessible to employees at Tesla in August 2020.
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