Robocoin Wallet Will Leverage Existing Bitcoin ATMs to Expand Bitcoin Network

Journalist:
Caleb Chen @bitxbitxbitcoin
October 1, 2014

Today, Robocoin has announced open enrollment for their Robocoin Wallet, which is needed to use the “Robocoin Bank.” Robocoin has taken the first step to moving away from being just a Bitcoin ATM company to becoming a full-fledged “Bitcoin Bank.”  The Robocoin Banking platform, which utilizes all existing Robocoin ATMs as automated kiosks, will provide banking services to customers around the world in the form of a new Bitcoin wallet: The Robocoin Wallet. Robocoin first revealed plans to change their ATMs into a more functional global network to support Bitcoin earlier this year. Those that wish to use Robocoin’s worldwide Bitcoin and fiat banking infrastructure should enroll for the Robocoin Wallet.

The Robocoin Wallet will open up new opportunities for people around the world to participate in the Bitcoin remittance market. The Robocoin Bank functionality is going to be rolled out individually to each Bitcoin ATM (branch). The first Robocoin machines to undergo the transformation will be located in Las Vegas, Robocoin’s birthplace. Soon after, Robocoin Branches will launch in Los Angeles, CA and then worldwide. Robocoin is now able to make the claim that their Robocoin Wallet is a new level of functionality and simplicity:

These are the only Bitcoin wallets with a global kiosk network and the only ATMs that create bitcoin accounts. It’s the instant way to buy, sell, and now store and send bitcoin.

Robocoin CEO Jordan Kelley simplified it even more for his potential customers:

It’s better than a Bitcoin ATM. It’s better than a Bitcoin Wallet. By combining the best of both, we’re creating Bitcoin’s killer app for global remittance, the underbanked, and beyond. In this case, 1+1=20.  We’re unleashing the power of Bitcoin.

Robocoin Seeks to Bring Bitcoin to Everyone and Anyone

As the first Bitcoin ATM maker in the world, Robocoin has had more experience in the Bitcoin ATM industry than most. Currently, most Bitcoin ATMs (or vending machines) are still seen as too complicated for the average user. As the supposed “on ramps” to Bitcoin, Bitcoin ATMs are not as simple to use as they should be, as people have found out over and over again. Robocoin has taken massive steps to be as transparent as possible and address the privacy and security concerns from the demanding Bitcoin community. Despite Robocoin’s continued support of the Bitcoin community in the form of Congressional demos and conference attendance, there remains a sub-population of Bitcoin users that refuse to give up their palm-vein biometrics for any reason whatsoever. The diehards will never be converted, and Robocoin is moving on to speak to the masses. With Robocoin Wallet, Robocoin Bank, Robocoin Kiosks, or whatever you want to call it, users (not Bitcoin users) will be able to send fiat value across the world by using Bitcoin as a medium of exchange. Have no doubt that in the future, more and more people will be doing this without realizing that Bitcoin is being used:

By integrating the Robocoin Wallet to our global kiosk network, anyone can walk up to a Robocoin Branch and obtain a beautifully powerful Bitcoin Wallet on the spot – no confusing private keys, no downloads and no cryptography expertise required. Moreover, depositing and withdrawing funds are now instantaneous and bank accounts have been removed from the process entirely.

Robocoin Wallet image from Robocoin; other images from Shutterstock.

Caleb Chen @bitxbitxbitcoin

Caleb is a graduate of the University of Virginia where he studied Economics, East Asian Studies, and Mathematics. He is currently pursuing his MSc in Digital Currency at the University of Nicosia.