News

Colorado deployer's Bitcoin ATMs offer exchange - and user education

Each unit will tap into an interactive content network and will be staffed by a live Bitcoin expert who can offer answers and assistance.

August 12, 2014

XBTeller, a Denver-based digital currency services company, has announced plans to launch a network of Bitcoin kiosks across Colorado. The company’s first kiosk is now operational in Aurora. Additional Bitcoin ATM installations are planned for Denver, Boulder, Blackhawk and Breckenridge before the year’s end, the company said in a news release.

What makes the XBTeller Bitcoin ATM different from others is that it not only allows Bitcoin accountholders to buy and sell the digital currency, but it also offers newbies the opportunity simply to learn more about Bitcoin. To this end, each unit will tap into an interactive content network and feature live Bitcoin experts to assist newcomers, answer questions, and provide other customer service, the release said.

As XBTeller CEO Noah Berger explained:

The majority of people haven’t heard of Bitcoin. Of those who have, many are misinformed about its purpose and potential, and only a tiny fraction actually own or use it.

We aim to change that by building an experience that targets the 99 out of 100 people who don’t have a Bitcoin wallet on their phone yet. I think that experience starts best with a conversation and an opportunity to ask questions. It’s hard to walk up to an ATM and feel a personal connection, so we’ve added the human back into the process.

The company says its kiosk attendants are ready to help throughout the transaction process. This includes clearing up common misconceptions surrounding Bitcoin, explaining security risks, and even sending a micro transaction to a new user’s wallet to demonstrate the ease and speed of transactions on the Bitcoin network.

"We want to make sure everyone understands what Bitcoin allows for right now and what its current limits are. For most people, Bitcoin is probably best viewed as an experiment they can participate in voluntarily, not as an investment,” Berger said.