BTM Maker Robocoin Shuts Down. Is the BTM Business not Profitable Anymore?
Romit, the remittance service, which earlier started as Bitcoin ATM manufacturer Robocoin, announced it is closing all its Bitcoin related services with effect from February 15th 2016. The company now seems to have moved on to more traditional forms of payments for its entire business. What could have been the motivation of Robocoin to close all its Bitcoin related services entirely? Did they have to close because of their own incompetency? Or Is the BTM business not beneficial anymore? CoinTelegraph conducted a survey of experts from the Bitcoin ATM market. “They did not give out full....
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Pioneering bitcoin ATM maker Robocoin has come under fire after an angry customer took to Reddit to publicise its grievances about how it was treated by the firm. The customer, a company called MetaLab Design in Victoria, Canada, claimed the ATM it ordered from Robocoin was severely delayed and defective when it arrived. It said it was still waiting to be refunded after returning the unit. Within a day of airing its grievances on Reddit, MetaLab said it got its money back from Robocoin. It proclaimed today on the message board that "Internet justice has been served", saying: "With the....
Robocoin CEO Jordan Kelley has addressed rumors the company may be pivoting, suggesting it may soon expand the means by which its allows consumers to buy and sell bitcoin. The rumors, which first surfaced on 29th January, implied the company would be moving away from its bitcoin ATM hardware due to the technical difficulties managing its network, and that Robocoin's future was perhaps in jeopardy due to these issues. Speaking to CoinDesk, Kelley didn't deny the rumors so much as seek to rephrase the question, suggesting that Robocoin has always been broadly focused on helping consumers....
If you were thinking about becoming the operator of a bitcoin ATM, listen up. This evening, Robocoin CEO Jordan Kelley announced that his company will be offering Robocoin ATM operators the ability to register for a 'lifetime' license, to avoid paying fees to the company moving forward. Currently, Robocoin ATM operators are setting their own transaction fees and the Las Vegas-based company takes a 34 percent cut of whatever fee charged by the operator. Under the new model, Robocoin will take a 1 percent cut. Current operators will be auto-enrolled beginning on the first of April. For the....
Las Vegas, Nevada-based bitcoin ATM manufacturer Robocoin has announced it will soon launch Robocoin Bank, a new project that will find its physical bitcoin ATMs becoming Robocoin Bank branches that integrate online banking features. Robocoin indicates that Robocoin Bank will incorporate new features such as cryptographic provable reserves, instant bitcoin-to-cash withdrawals and the ability to send cash internationally as part of an effort to build what it calls "banking and remittance 2.0". Jordan Kelley, CEO of Robocoin, told CoinDesk that the new service brings the company closer to....
Today, Robocoin has announced open enrollment for their Robocoin Wallet, which is needed to use the "Robocoin Bank." Robocoin has taken the first step to moving away from being just a Bitcoin ATM company to becoming a full-fledged "Bitcoin Bank." The Robocoin Banking platform, which utilizes all existing Robocoin ATMs as automated kiosks, will provide banking services to customers around the world in the form of a new Bitcoin wallet: The Robocoin Wallet. Robocoin first revealed plans to change their ATMs into a more functional global network to support Bitcoin earlier this year. Those that....