NCR Atleos, a prominent ATM service provider, has introduced its LibertyX Bitcoin Cashout feature, facilitating customers within the United States to obtain cash from their Bitcoin sales directly through ATMs. Users will pre-stage their transactions via a mobile application before collecting their cash at their selected ATM locations.

To complete the transaction, users will choose an ATM, send Bitcoin to an address specified by the app, and then utilize a unique access code at the ATM to withdraw US dollars.

Easy BTC to Cash Transactions

The service is set to roll out across “more than 30 states to start,” as indicated in an official statement. These ATMs are part of a broader network of over 280,000 ATMs that NCR Atleos operates in the U.S. Chris Yim, general manager of LibertyX, commented:

“One of the remaining barriers to greater Bitcoin adoption has been the ability to convert Bitcoin to cash easily and quickly, without enduring delays often associated with bank transfers.”

Participating ATMs must be outfitted with NCR Atleos’ ReadyCode API. There is a maximum withdrawal limit of $400 per transaction using the access code, but customers can conduct multiple transactions for larger amounts.

LibertyX BTC ATM network

The LibertyX BTC ATM network. Source: LibertyX

Pioneering Change in the Cryptocurrency Market

LibertyX has obtained a BitLicense from New York and enables BTC purchases at more than 30,000 ATMs. The company has consistently aimed to create a bridge between digital and physical currency using its Bitcoin ATMs, a vision shared since 2020. The development of the cashout feature has been made possible through the implementation of NCR Atleos’ API, following NCR’s acquisition of LibertyX in 2021.

While BTC ATMs can provide considerable revenue for operators, they face a host of regulatory challenges that can hinder growth. Recently, the installation of new BTC ATMs has declined, with more machines being taken offline than coming online, ending a previous period of positive growth.