Bitcoin 2014 Conference: Skyhook Releases Portable Bitcoin ATM for Just $999

Skyhook launched its new open-source bitcoin ATM machine at a price of $999.

The Skyhook ATM makes it simple for bitcoin businesses of any scale to become an exchange, quickly and affordable. Photo: TwoBitIdiot/Twitter

The Skyhook ATM makes it simple for bitcoin businesses of any scale to become an exchange, quickly and affordable. Photo: TwoBitIdiot/Twitter

Skyhook has recently introduced its new project – a new portable bitcoin ATM machine.

The company, headquartered in Portland, commissioned the bitcoin ATM machine on the 12th of May, while the presentation of the project took place at the Bitcoin2014 conference in Amsterdam, the Netherlands.

ATMs from such giant global producers as Lamassu and Robocoin are priced from $5,000 to $20,000 for a machine. The cost of the Skyhook machine starts at $999. The company applied low-cost hardware in the ATMs production to provide lower prices.

Skyhook chief operating officer, Kyle Drake, said: “It’s very difficult for non-experts to buy bitcoin in the United States and around the world right now, without a lot of work. There are some great bitcoin wallets out there, but most of them come with no way to buy bitcoin.”

In order to utilize these exchanges, the users have to verify their identity and home address. Before making purchase of bitcoins, the users have to deposit fiat currencies through a bank transfer or credit card transaction.

Developers have to concentrate on making ATM machines available to main street consumers.

Drake commented: “We want to help solve the bitcoin purchasing problem by making it so anyone that wants to try and use bitcoin can just go to a nearby ATM, and get some with cash.”

“The best way to do that is to make bitcoin ATMs affordable, so that anybody can get and use one. It’s a great way for people to get comfortable using bitcoin.”

Light and small, Skyhook ATM machines make it simple for individuals and businesses of any scale to quickly exchange currencies.

The ATM machine can be portable, but if users prefer a fixed location, the machine can be attached to something through a durable security mounting plate. The same level of security is provided, no matter of the location.

Skyhook enables merchants to generate profits and also protect its users from price volatility. The price of the bitcoin is set automatically using the main exchanges. The merchants can set percentage rate and a minimum price.

Skyhook’s aim is not making money from ATM sales, but providing ATMs availability to a large number of people and increase bitcoin adoption.

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