Czech firm General Bytes, which has set up the machines in Prague, claims it has sold more than 1,700 cryptocurrency ATMs, in 53 countries, since 2014. EasyBit, a pioneer in the field, started in 2013, and has developed four machine models, selling more than 60 ATMs on four continents. An early-mover advantage has helped both firms spread out geographically. But while scale is their biggest ally, others are trying to make their mark with more sophisticated technology. Vault Logic, which is currently in its beta launch phase, is deploying so-called smart ATMs that allow users to buy and sell cryptocurrencies for global cash, and uses an operating system to accept third-party apps. This allows it to both sell cryptocurrencies for cash and offer additional services such as paying bills or topping up prepaid mobiles. Vault Logic has placed 10 prototype ATMs in high-profile Bitcoin “embassies” — spaces built to introduce more people to crypto technology — and more traditional venues such as downtown St. Paul, Minnesota, and the headquarters of internet retailer Overstock.com in Salt Lake City.
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