BitOcean Enters to Bitcoin ATM Industry, Brings Two-Way Kiosks

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Bitcoin Kiosk

In an official announcement BitOcean Technology Development Co, Ltd has said that it has released Chinese-developed and made Bitcoin ATMs. These machines come with a feature list designed to compete with popular existing products available in the market. The best part with these is that they are supporting a multi-currency feature.

According to a company source, the new machines which are the second generation developed by the Beijing-based company are two-way kiosks which enable users to buy and sell Bitcoins and come with multi-currency support. Moreover, as these are in compliance with the laws and various jurisdictions, the owners won’t have to face legal issues.

In his statement to the press, BitOcean founder and CEO Xiaoning Nan said that his company is involved in discussions with several buyer-operators, and according to him the major market for him is Asia. He believes that Asia can provide the best tech support for all the customers and partners. He says that his company would like to sell the BitOcean ATM all over the world.

A lot of comparisons are being done between the existing Bitcoin ATMs and the kiosks being offered by BitOcean; however, according to Nan the new ATMs offer more enhanced safety and functionality over the first generation, which BitOcean showcased at the Global Bitcoin Summit in Beijing in May held this year.

The Bitcoin Kiosks Launched After Months of Testing by the Engineers

According to the CEO of the company machines which the company tested for two months prior to release, offer operators a “bank-level experience” in both hardware and software. He says that improvements include faster processing times which has come down to 30 seconds for a withdrawal and a new multi-function online dashboard for operators.

He also added that his company updated the core part of the bill acceptor and cash box to be the best class of security that can avoid any error in its operation. According to him the manufacturer is a professional supplier of ATMs for banks and for that reason the users are going to have great experience while they are carrying transactions.

The kiosks are expected to allow for transaction confirmations via email, SMS or telephone and paper wallet printing. Thus, there won’t be any transactions that are not confirmed and this according to the company is meant to ensure that no customer loses the money in the process and faces unwanted trouble.

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