Following the tour de force made by an Ukranian startup that converted thousands of regular ATM into Bitcoin ATMs, a Spanish startup used the same procedure to convert 10,000 ATM across Spain.
One wise entrepreneur once said: “Why should we reinvent the wheel?”
Instead, Bit2Me exploited for Hal-Cash ATMs, which are revolutionary in themselves. Indeed, this original service enables you to send money to someone else’s mobile phone, which can then be used as a “debit card” to withdraw cash at any Hal-Cash compatible ATM.
Once a Bitcoin user selects the amount he would like to withdraw from the ATM, a Bitcoin address, where the user will have to send the funds, and the amount of the required Bitcoin transaction, are displayed on the ATM’s screen. Once the payment has been confirmed, the user receives another code sent by text message. To complete the withdrawal, the user enters both codes at the ATM.
Bit2Me intentions are quite clear:
” (We’re willing) to become Spain’s point of call for converting bitcoins into euros by building a solid and strong service”.
However, the company is also looking overseas, and in particular to Mexico where 15,000 Hal-Cash ATMs already exist. Mexican Bitcoiners, wait and see!
Leif Ferreira, Bit2Me founder, said:
“Bit2Me is an easy way for new users to probe cryptocurrencies by converting bitcoin into euros anywhere in Spain, without registration and from a mobile device.”
Images from Bit2Me and Shutterstock.