General Bytes Installs 10 Bitcoin ATMs Across Prague Subway Routes
The capital city of the Czech Republic, Prague, has become the scene of the latest explosion of bitcoin-related development as General Bytes has installed a network of ten bitcoin ATMs at different points along the city’s subway routes.
General Bytes released a video which demonstrates how a daily commuter can use their phone to connect to the bitcoin ATM and buy crypto in
exchange for fiat or vice-versa.
The company boasts of low maintenance costs and unmatched service stability. The website also mentions that 99 percent of configuration task can be done remotely, hence saving service visits.
Features offered by the bitcoin ATMs include the ability to receive BTC by email from the ATM, issuance of NFC wallet cards directly from the ATM, and fingerprint authentication in line with Know Your Customer (KYC) and Anti-Money Laundering (AML) best practices. They also offer support for alternative cryptocurrencies, so customers can also carry out transactions with dash,
litecoin, and monero.
As bitcoin ATMs gain prominence in Prague and elsewhere around the world, General Bytes is of the opinion that they will play a central role in the mainstreaming of cryptocurrency. They state ambitiously that their mission is to become “the world’s largest bitcoin and
blockchain technology provider.”
Before visiting a terminal, General Bytes recommends that users install a mobile wallet on their phones to preempt any possible connection issues. Once this is done, the promise to users is an entirely seamless phone-based transaction experience.
A statement from their website reads, “Our company believes that virtual currencies represent the fundamental pillar of the future freedom (not only financial) on the Internet. The values of our society include truth, the right of the individual to privacy and freedom.” (Translated)
According to Statistia, the number of bitcoin ATMs has steadily grown over past two years. About 500 bitcoin ATMs were operating in January 2016, which is just one-fifth of the 2,662 ATMs operating as of April 2018.