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Robocoin
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Robocoin provided one of the first Bitcoin ATM machines in Vancouver in October 2013. It was competing with 2 other major companies, including Lamassu and BitcoinATM to be the first in the industry. Robocoin was first because they had "a functioning product". By 2014, Robocoin had around 45 machines globally. These Bitcoin ATMs are like regular ATMs but with different compliance features such as ID doc scan. The machines were sold in three variations ranging from $15,000 to $35,000 per machine. Robocoin closed down in 2015. Process of Withdrawing Users scan hands for identification purposes, then money comes out of the Bitcoin ATM through a virtual wallet on their phones. Then, users receive a QR code and a receipt. Campaign against Robocoin Robocoin's CEO, Harrison told one of its operators that he could continue with the Robocoin 1.0 version on his ATMs, but later enforced Robocoin 2.0 and received allegations for centralization. |
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