The Bitcoin ATM Project has two missions - to implement Bitcoin ATMs nationwide in the United States so that they are accessible to every person in the country - along with releasing a crypto-based debit card that can be used at these ATMs and at physical merchants and retailers worldwide.
The goal of this Project is to bring Bitcoin and other cryptocurrency to the everyday life of people around the world. This will only happen if we can make Bitcoin accessible, easy to understand and "mainstream" enough so that large scale adoption of Bitcoin and other digital commodities can continue. Today this means that we have chosen to provide a highly convenient product in the form of Bitcoin ATMs and the first ever truly crypto-based debit card that not only provides maximum convenience but also maintains maximum privacy.
One of the main advantages of using Bitcoin over traditional funding methods is privacy. When a Bitcoin transaction is sent, its record is permanent and public on the blockchain, but not tied to any particular identity. Because of this Bitcoin is considered an anonymous and private currency and method of exchange. However, one of the major challenges of using Bitcoin is the limited number of merchants and services that accept it as payment. Enter the Bitcoin debit card, a product that takes Bitcoin and converts it into currency for use at traditional merchants. The challenge with Bitcoin debit cards is that, by and large, they tend to require the same level of financial disclosure of traditional financial institutions.
The CryptoCoin debit card is different, and the first of its kind - it is truly crypto-based - sending and receiving in Bitcoin or other cryptocurrency with no exchange to fiat taking place. Because of this, and operating outside of the VISA/MasterCard network, no identification is needed to register for a card - making it a truly anonymous, private solution. But, much like regular debit cards being used at traditional ATMs, it can be used to deposit or withdraw funds as cash at any of our thousands of soon to be launched Bitcoin ATM locations in the United States. It can also be accepted by any merchant or retailer who wishes to accept Bitcoin or other cryptocurrency, by giving them a convenient payment mechanism and offering them the ability to withdraw their funds in cash at any of our Bitcoin ATMs.
CRYPTOCOIN DEBIT CARDS: