The first 2-way Bitcoin ATM (commonly referred to as BTM) in San Diego County was successfully deployed and is ready for business as of January 11th. CoinOutlet partnered with CoinStructive to make this possible, CoinOutlet being in charge of manufacturing the Bitcoin ATMs, and CoinStructive acting as a Bitcoin marketing consultant.
CoinStructive has headquarters in San Diego, and specializes in the “education, management, deployment, and adoption of Bitcoin and other blockchain technologies for retailers and other businesses”.
The Bitcoin ATM is located in El Camino Real, Encinitas, CA within Surf Bros. Teriyaki. The ATM is operations from 10:30 AM to 9:30 PM, Monday through Friday. New users unfamiliar with the inner workings of Bitcoin have the option to receive their Bitcoin via a printed paper wallet containing instructions as well as public and private keys to their Bitcoin.
Both Eric Grill, as well as Chris Groshong, the CEOs of Coinstructive and CoinOutlet respectively, commented on the partnership:
“Bitcoin is no longer an emerging technology. Early adopters have proven Bitcoin to be a secure, easy way to transfer funds anywhere, without reliance upon banks. Indeed, CoinStructive has helped transfer moneys into previously impenetrable markets like Cuba. We’re very excited to deliver this ATM to the Bitcoin user base in tech-friendly San Diego County, and even more excited to introduce our forthcoming brick-and-mortar partners to the Bitcoin community. – Chris Groshong, CEO of CoinOutlet ”
“This opportunity to collaborate with a team of people dedicated to educating businesses about how bitcoin can be an advantage is our dream. This is how you build a bitcoin ecosystem that benefits millions of people. We are looking forward to rolling out CoinStructive machines across California, and helping bring new merchants onboard with Bitcoin in general. – Eric Grill, CEO of Coinstructive ”
Physical accessibility of Bitcoin is considered a major roadblock for Bitcoin adoption, but that is no longer the case for the San Diego County. CoinOutlet also improved upon both the physical design and the user interface compared to the first generation machines, so the Bitcoin ATMs now closely represent traditional teller machines.