Robocoin Targets Unbanked Population, Brings Custom Bitcoin Wallet

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Robocoin Targets Unbanked Population, Brings Custom Bitcoin Wallet

There is huge scope for Bitcoin in the unbanked population; however, the fundamental requirement for it is that the people have Bitcoin wallet to store their digital currency. Understanding the requirement, Robocoin has announced the launch of a custom Bitcoin wallet for consumers. It will be called the Robocoin Wallet.

At the occasion of launching the services, Robocoin CEO Jordan Kelley admitted that the Robocoin Wallet from his company will allow users have access to its planned Bitcoin banking and remittance network under its direct supervision. This according to him is a step that will be key in helping the company ensure its service remains as user-friendly as possible.

In his statement to press Kelley said that what his company is talking about is a fully enterprise, fully functional global wallet with a full kiosk and Bitcoin ATM built into it. This according to him means that customers no longer need to have their external Bitcoin wallet. With the Robocoin Wallet, they won’t be at the whims of the existing Bitcoin infrastructure.

The organization is trying to bring a harmonious experience across its web and mobile platforms. According to Kelley the principal selling point unique to the new product is the ability for wallet users to instantly convert Bitcoins to cash at its locations around the globe. He says that Bitcoin transactions would become easy for the users with it.

He added that if someone wants some cash, he is no longer sending Bitcoin to the machine and wait for the confirmation and then go back and scan a receipt; rather, all he needs to do is walk up to the machine, tap ‘withdraw’, pick how much money he wants and it instantly cashes out. Thus, the entire process has been made easy for users.

Robocoin Has Ambitious Plan to Provide User-friendly Bitcoin Transactions for Users

The announcement from the company says that Robocoin’s wallet will be initially available to all of the company’s existing users, who can sign up on the company’s website. It’s also open for new customers who can sign up from Tuesday at the company’s ‘Robocoin Branch’ (ATM) locations in Los Angeles, Mountain View and Las Vegas.

The ambitious plan is part of a broader move by Robocoin to use its Robocoin ATMs as an onramp to the digital currency ecosystem and according to Kelley the company is looking to develop a suite of in-house solutions that free it from third-party relationships that have in the past created operational difficulties.

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