By
Temitope Olatunji
July 3rd, 2023
The U.S.-based Crypto Bridge Network is attempted to build a worldwide network of ATMs as a bridge between fiat and crypto currency.
Crypto Bridge Network is looking forward to building a network of ATMs as a way to facilitate transactions between cryptocurrency and fiat in the real world. ATMs are one of the easiest methods to purchase Bitcoin or cash out cryptocurrency, but the lack of them makes the option less viable than others.
According to the organization, it is very likely that the transaction volume of cryptocurrencies will have reached $1 trillion by the year 2022. So, in order to cater to the expectedly growing consumer demand, the current situation with a sore lack of ATMs within the United States and internationally needs to be improved. The bigger part of this transaction volume is expected to come from Bitcoin and Ethereum, which Crypto Bridge Networks is going to support.
Apart from crypto transactions, the ATMs will also support fiat currencies, allowing the transfer of electronic money orders and bill payments globally.
Besides physically accessing the ATMs, users will be able to download the Crypto Bridge Network app on their phone and setup an account instantly. There is no need for a bank or exchange account, as well as for a debit or credit card. Users will have an opportunity to insert fiat currency and to transfer cryptocurrency directly to their wallet, with the inverse possible as well.
According to the statistics, there are only 1400 Bitcoin ATMs in the United States and more than 2000 globally. This is a drop in the bucket compared to 425,000 regular ATM’s in the United States, and 3 million internationally.
Moreover, the ownerships of ATMs are very fragmented, and Crypto Bridge Network looks to change that by releasing ATMs all over the United States. The deployment of ATMs on this scale should make the user experience identical, regardless of which ATM they approach to and making it much more seamless for first time users, who looks to either purchase cryptocurrency, or get some quick cash.
Partners will have access to ATMs at no charge, along with issuance of Crypto Bridge ATM tokens to support the usage of the network. Interested participants will be able to get their hands-on tokens starting with the pre-token sale.
The pre-sale has begun on January 22nd, with intentions to raise $2,000,000 for initial roll out of ATMs. Contributions are secured by a SAFTE agreement, with a discount up to 92.22%.
The exact day of public token sale’s official launch isn’t clear yet. It will start sometime in the first half of 2018, with a target sale of up to $50 million.
Crypto Bridge Network looks to at least double the number of crypto ATMs worldwide, positioning the company comfortably as a dominant player.
The company is introducing a unique automated crypto ATM platform network that will leverage the increasing popularity of crypto currency, while providing unprecedented access to popular and emerging currencies with an array of additional services targeting the financial needs of investors, families, and individuals in all communities around the globe.
Crypto Bridge Network was launched to provide access to crypto currencies by developing an international network of ATM machines that will allow the average consumer to exchange local fiat for cryptocurrencies quickly and easily.
