Bitcoin ATM and Educational Kiosks from XBTeller to come to Colorado

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Elliptic, a Bitcoin Storage Services Provider Gets $2 million in Seed Funding
Elliptic, a Bitcoin Storage Services Provider Gets $2 million in Seed Funding

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Installing Bitcoin ATM and educational kiosks in Colorado in 2014 and 2015 is part of the mission of XBTeller. The company says that it will be rolling out Bitcoin teller machines in and around the city of Denver on an unprecedented scale as it realizes that more opportunities to buy and sell Bitcoins will lead to more, well, buying and selling.

As part of its mission, the company is in the process of finalizing the location of the XBTeller Flagship and aims to act as the Bitcoin hub of Denver, around which the rest of the XBTeller fleet will be organized. The idea behind flooding the state of Colorado with Bitcoin ATMs is to allow residents to easily get Bitcoin through the intuitive interface.

The company says that, available on the Lamassu units, XBTeller is trying to help the customers interested in Bitcoin to not just know about it but also use it for transactions. For that reason it is bringing to market an ATM with a so-called “educational kiosk” that will teach consumers the basic ins-and-outs of Bitcoin.

Noah Berger, CEO of XBTeller says that the Bitcoin protocol may be the most significant invention of the current period, a grand experiment and global phenomenon based on free will and math and he is thrilled to be a part of it. To attract the local citizens towards Bitcoin, the company is even offering free Bitcoins.

**relatedarticle**

Free Bitcoins in Offer from Today Onwards for Some Customers

To offer free Bitcoins, XBTeller will be providing a clue via Twitter to followers as to where Bitcoin paper wallets will be hidden around town and each paper wallet, the start-up says, will be funded with between 0.1 Bitcoins and 1 Bitcoin. The offer is available from today onwards i.e. from July 30th.

Talking about the cost of using a Bitcoin ATM, XBTeller explains that it will be charging a flat 5 percent commission for transactions conducted using the machine; however, currently, the fundamental aim on the part of the company is to attract new users. Berger says that the majority of people haven’t heard of Bitcoin.

According to him many of these who have not heard about Bitcoin are misinformed about its purpose and potential, and only a tiny fraction actually own or use it. Therefore, the fundamental role for his company is to change the perception by building an experience that targets the 99 out of 100 people who don’t have a Bitcoin wallet on their phone yet.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com