A new ZenBox ATM offers two-way functionality, which means that users can use it to buy and sell bitcoins.
ZenBox, the world’s largest network of bitcoin kiosks, has announced the launch of Orange County’s first two-way bitcoin ATM.
It is located inside Mission Market Express at the newly-opened $188 million ARTIC (Anaheim Regional Transportation Intermodal Center). More than 10,000 commuters will have access to the ATM on a daily basis.
ARTIC station provides customers a full range of transportation, dining, entertainment, and retail options, and is the Platinum LEED-certified, most energy efficient transportation depot in the world. Besides, from this moment it has a tangible place to exchange fiat for emerging currencies.
ZenBox currently operates 18 retail locations across California, Colorado, Georgia, Illinois, Massachusetts, Missouri and Nevada. The company offers its operating partners turnkey packages including their choice of machine plus full state and federal compliance, banking, local marketing, cash and bitcoin liquidity, customer and technical support.
“When Mission Market’s owner Roland Foss heard that both Overstock.com and the Sacramento Kings began accepting bitcoin, he immediately saw the market opportunity for his business,” said Timothy Curry of ezCoinAccess, ZenBox regional operator.
“Bitcoin enthusiasts have traveled to Mission Market Express from over an hour away just to buy items with bitcoin, and now the store will benefit from one of the most highly-trafficked bitcoin kiosks to date, bringing customers from well beyond Orange County, along the many railway and bus lines converging here.”
Bitcoin ATMs still maintain a novelty that most digital currency users do not have access to, even though they are slowly becoming more common. Bitcoin ATMs are an important device to develop bitcoin adoption.
They give digital currency visibility in local communities as well as a “physical” presence that many people find encouraging. Many industry executives predict an explosion of activity in the bitcoin ATM sphere over the next few years.
However, according to Sam M. Ditzion, Tremont Capital CEO, some businesses remain hesitant due to unproven profitability models and an uncertain regulatory environment:
“I definitely anticipate significant developments in the use of Bitcoin as well as the Bitcoin ATM industry during the next 3-5 years. To the extent that digital currency as a concept succeeds, ATM-like devices are an incredibly convenient and simple way for mainstream consumers to exchange cash for digital currency. The business and profitability models for ATMs both need to be refined and proven further. If there is more visibility in regards to the regulatory environment worldwide, and a business case exists for ATMs, I suspect we would see a wide range of new players quickly emerge followed by rapid consolidation.”
Zhanna has a background working for an American multinational food and beverage company as well as at a number of translation agencies serving similar top multinational corporations. She enjoys discovering new cultures as well as learning new languages. She is also a lover of all things fabric and floral ,especially if they are design-related. Zhanna is a graduate of Belarusian State Economic University with a major in Intercultural Business Communications.
