A new first move is on the market, the latest cryptocurrency news show. We are talking about the large crypto trading platform Coinsquare which is working on a software that would make the Coinsquare BTC purchases possible for millions of people through Automated Teller Machines (ATMs).
As an official press release on Wednesday (July 3, 2019) confirmed, new software developed by the fintech company, Just Cash, would upgrade the traditional ATMs and enable the purchase of cryptocurrency.
The Candian-based cryptocurrency exchange platform Coinsquare announced the news in a press release, confirming the controlling investment position in the fintech company. With this development, Just Cash would function as a feature for Coinsquare BTC purchases under the cryptocurrency exchange platform.
The CEO of Coinsquare, Cole Diamond, spoke on the benefits of the software. He was featured on many best cryptocurrency news sites for noting that adoption was not widespread because of the complex process associated with purchasing the virtual currency.
Diamond announced the Coinsquare BTC purchases by stating:
“Bitcoin is new and unfamiliar to many, but ATMs are not. By tapping into the existing global ATM network, cryptocurrency can finally reach the masses. We are bringing that familiar and trusted process into the cryptocurrency world, and vice versa, for the first time.”
In addition to this, the purchasing digital currency on these ATMs is relatively simple since there is an absence of additional hardware or mobile apps. The Managing Partner and Co-Founder of Just Cash, Todd Lawrence, also spoke and added that collaborating with Canada’s biggest cryptocurrency trading platform would ensure that the software is updated on millions of ATMs.
While the Coinsquare BTC purchases are coming to the world via ATMs, Vancouver is calling for the ban of Bitcoin ATMs. As the altcoin news showed last month, the mayor of the state Kennedy Stewart suggested a blanket ban on BTC ATMs.
This is largely because of the number of Bitcoin ATM scams. In 2018, for instance, scammers posing as debt collectors deceived four victims in Australia and made them deposit over $50,000 in a Bitcoin ATM. Other than that, crypto ATMs have seen tremendous growth in the second quarter of this year, and North America continues to have the spotlight having 74.2% of the total ATMs in the world.
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