NCR Atleos, a prominent player in the ATM industry, has launched a groundbreaking feature called LibertyX Bitcoin Cashout. This innovation allows U.S. customers to convert their Bitcoin into cash directly through ATMs, enhancing the ease of accessing cash from cryptocurrency holdings.
Currently available across more than 30 states, the LibertyX Bitcoin Cashout feature enables users to withdraw cash from Bitcoin sales at participating ATMs. This development is poised to simplify the process for cryptocurrency enthusiasts seeking to liquidate their assets.
To utilize the new service, customers must first set up their transactions using the LibertyX app. The process involves selecting an ATM, transferring Bitcoin to a designated address provided by the app, and then entering an access code at the ATM to complete the cash withdrawal. This streamlined approach eliminates the need for lengthy bank transfers or complex wire transactions.
Chris Yim, General Manager of LibertyX, highlighted the significance of this feature: “One of the key obstacles to broader Bitcoin adoption has been the challenge of converting Bitcoin to cash quickly and effortlessly. Our new service addresses this by eliminating the delays associated with ACH transfers and the complications of wire transfers.”
The LibertyX Bitcoin Cashout feature is currently available on a subset of NCR Atleos’ 280,000 ATMs nationwide. While the cash withdrawal limit is set at $400 per transaction, users can perform multiple transactions if needed. To enable this feature, ATMs must be equipped with Atleos’ ReadyCode API.
NCR acquired LibertyX in 2021, and the company was subsequently divided in 2022, with Atleos managing the ATM segment. Despite the potential profitability of Bitcoin ATMs for merchants, regulatory challenges continue to pose hurdles.
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