The growth of cryptocurrency has revolutionized every aspect of the market including exchange for trading, wallets to store currency and ATMs to transfer, withdraw crypto funds and so on.
Breaking down the Bitcoin ATM
It is an internet integrated machine to withdraw, transfer or exchange cash for bitcoin or vice versa. Bitcoin ATMs have different types and processes.
Vending machines are those that support & store fiat money into the wallet to buy bitcoins. These type of ATMs are quite favorite since it doesn’t involve much legal scrutiny and regulation compliances. Whereas, the other ATMs scrutinize with extreme AML/KYC requirements which intend to avoid illegal trading.
However, the Crypto ATM revolution is sprouting and bringing much similar concept as the bank does. Such advancement shall include offering account selection (as to saving, deposit or payment) across crypto ATMs. However, no such innovation exists yet.
Counting the Manufacturers and Providers
Genesis Coin covers around 44 percent market share, 26 percent is acquired by General Bytes and lastly Lamassu around 16 percent market share.
Coinsecure holds the significant share of the Crypto ATM market in the US, having 127 ATMs it assumes to be the leading ATM provider. In 2017, they acquired nine locations specifically and involve eight percent buying fee and four percent as selling fee. Furthermore, InstaCoin who is the Bitcoin ATMs provider covers 55 places and also count for adding seven new locations this year.
As Cointed is a provider and manufacture, they ensure seamless functionalities across software and hardware. Cointed has its maxim for offering its service at in an economical way and implements diverse networks like Mining, digital currencies, in-house manufacturing and other solutions with the lowest fees.
About Cointed and the ICO
One of the Crypto ATM Company’s, Cointed, launched its crowdsale on October 20, proposed to accumulate addition fund of $120 million.
Cointed is a well-established enterprise and has been operating as “cointedtoken.com.” Its exchange is functioning with its newly built online wallet where numbers of various altcoins are listed to improvise the operation and performance. However, this can also be utilized to streamline the trading process for fiat money and cryptocurrencies. Cointed’s ICO explicitly aims to internationalize its existing functions that simplify the operation of the legal structure following country’s administrative prerequisites.
Cointed’s hub of innovation lies with the connection of the analogue to the world of cryptocurrencies. Crypto ATM and mining equipment could be the feasible solution though and has embraced the lucrative business opportunity for all of its investors.
The Pre-ICO started on October 20, 2017, at 00.00.00 UTC and closed on November 19, 2017, at 23.59.00 UTC. Upon successful completion of Pre-ICO on November 19, the ICO will continue until February 28, 2018. You can participate in the ICO here.
Cointed’s platform involves Ethereum smart contracts., offering the tokens in exchange for ether. It has predetermined the bonus and benefits to its investors; for instance, the first 1000 investors (having minimum 20 ETH investments) will be receiving special bonuses on the grounds of Mining, Exchange, and Software and Online shop.
The ICO has unlimited potential to raise expected funds and to connect prospective investors which will ultimately grow Cointed’s network. To find out more you can read the project’s whitepaper.