A technology company dealing with publicly accessible cryptocurrency solutions Virtual Crypto Technologies is revealing its bitcoin ATM NetoBit at TechCrunch event in Tel Aviv on June 7. NetoBit is notable for being a bidirectional platform (users can buy and sell bitcoin for fiat). It is the world's first and only ATM providing a real-time conversion, purchase and sale of bitcoin.
NetoBit solution overall are distinctive for a validation algorithm (predict if the transaction will be approved immediately) and for allowing users to work with several crypto exchanges simultaneously for each transaction. Moreover, financial management system of Virtual Crypto supports an operation of a large number of ATMs and POSs (in April 2018 the company launched POS NetoBit Pay).
We continue to set standards for the burgeoning cryptocurrency sector. Our proprietary algorithm reduced the typical transaction time from 10 to 60 minutes to several seconds. At this stage, NetoBit ATMs combine that speed with the convenience of an ATM, giving customers the ability to buy and sell bitcoin with fiat money. The result is a vastly improved trading experience for customers, which we believe will be attractive to our business partners as well as consumers.
CEO, Virtual Crypto Technologies Ltd.
More details can be found here.