More and more Bitcoin ATM’s are popping up all over the world and the global total is getting very close to the 400 mark. While that number may seem insignificant compared to the overall number of bank ATM’s in existence, keep in mind Bitcoin is only six years old. And, obtaining a location for a Bitcoin ATM is much harder compared to a bank ATM. But, Universitat Jaume I de Castelló now hosts their very first Lamassu Bitcoin ATM, courtesy of Chip Chap.
Chip Chap Bringing Bitcoin ATM Functionality to You
Chip Chap is a very interesting Bitcoin company to keep an eye on, as they offer digital currency-related services in many different countries. Their main goal is to bring Bitcoin to everyone in the world, whether that is by installing new Bitcoin ATM’s, or using existing financial infrastructure.
Speaking of which, you may have heard the name Chip Chap before, as this is the same company enabling Bitcoin-to-fiat conversion at over 10,000 existing bank ATM’s; a clever usage of existing financial infrastructure, and, it also removes the need of obtaining new locations to host Bitcoin ATM’s.
The way Chip Chap works is by letting users download their mobile application – available for both iOS and Android – through which they can convert Bitcoin to a fiat voucher. By using this voucher at any of the over 10,000 supported bank ATM’s, users can cash out to fiat without even owning a bank account or a bank card.
This service is provided to Bitcoin enthusiasts in Spain and Poland at a marginal fee of 1% + 1.5 EUR per transaction. Needless to say, this is a quick, cheap and convenient way of converting Bitcoin to fiat currency [by using HalCash]. Chip Chap only offers this service in Spain and Poland for the time being, but, it could very well be expanded to additional countries such as Mexico and England in the future.
The Lamassu Bitcoin ATM
Chip Chap is now officially the operator of the company’s very first Lamassu Bitcoin ATM, located in Castellón, Spain. Considering there is only one Bitcoin ATM in the city, and the fact that it is located at Universitat Jaume I de Castelló, a lot of people might be drawn to the machine in the coming weeks and months.
The Castellón Lamassu Bitcoin ATM lets users purchase Bitcoin with fiat currency – EUR in this case -and Chip Chap does not charge an additional fee. A standard fee charged by Lamassu is still applicable though. Even though this is a university campus, no details were revealed on whether or not this Lamassu Bitcoin ATM can be accessed 24/7.
Due to this additional Bitcoin ATM being installed in Spain, the country now hosts a total of eleven Bitcoin ATM’s. Lamassu [3 machines] is trying to gain a foothold in this market, which is mostly dominated by BTCPoint [6 machines]. The other two Bitcoin ATM’s are manufactured by Skyhook and RoboCoin.
Images courtesy of Lamassu, Chip Chap