New NCR Atleos/LibertyX Feature Enables BTC to Cash Conversion at US ATMs

August 30, 2024 07:55 PM AEST | By Team Kalkine Media

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New NCR Atleos/LibertyX Feature Enables BTC to Cash Conversion at US ATMs — Image source: shutterstock

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NCR Atleos has introduced a new feature, LibertyX Bitcoin Cashout, enabling customers in the United States to convert Bitcoin (BTC) into cash at ATMs. This service allows users to complete Bitcoin transactions through an app and collect US dollars at designated ATMs.

The LibertyX {Bitcoin} (BTC) Cashout feature operates as follows: users pre-stage their transaction via the app, which provides a unique address for sending Bitcoin. Once the transaction is completed, users receive an access code that can be used at participating ATMs to withdraw cash. The feature will initially be available at ATMs across more than 30 states.

To utilize this service, ATMs must be equipped with the Atleos ReadyCode application programming interface (API), which supports this new functionality. Each transaction has a maximum cash withdrawal limit of $400, though users can complete multiple transactions if needed.

LibertyX, now a part of NCR following its acquisition in 2021, has been a significant player in the Bitcoin ATM sector, allowing Bitcoin purchases at over 30,000 ATMs. The introduction of the cashout feature marks a significant step towards bridging digital and physical currencies, a goal LibertyX has been pursuing since 2020. This innovation leverages Atleos’ API to facilitate the transaction process.

Despite the advancements, the sector faces regulatory challenges. The installation rate for Bitcoin ATMs has recently declined, with more ATMs being decommissioned than newly installed, reversing a previous growth trend. This highlights ongoing complexities within the regulatory landscape affecting Bitcoin ATM operations.

Overall, the LibertyX Bitcoin Cashout feature represents a notable development in cryptocurrency accessibility, providing a convenient means for users to convert Bitcoin to cash through a network of ATMs.

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