Cryptocurrency ATMs offer people the convenience of either physically cashing out their crypto, or in some cases, buying some right off the street. Their spread represents the growing interest in and acceptance of cryptocurrencies. However, despite their growth, most of these ATMs operate in a way that goes against some of the core principles of the underlying blockchain technology.
Existing crypto ATMs are not only rather centralized physically, with nearly 75% located in North America and roughly the other quarter in Europe, but have also been monopolized and are anti-privacy by design. In keeping with core blockchain principles of privacy and decentralization, Velorex offers “anonymized, decentralized cryptocurrency management
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