Bitcoin startup Moneero aims to expand the digital currency's user base with commercial ATM machines along with SMS & Social Media enabled transaction software.

By: moneero.com

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-- The race to produce a Bitcoin ATM intensified in April 2013 during the Cypriot financial crisis, when Cypriots had their savings confiscated by a national "bail in" that prompted Bitcoin interest to soar. Since, several startup ventures have released prototypes and some have begun taking pre-orders. Still, no Bitcoin ATM is accessible to the commercial public.Uruguayan startup Moneero has quietly been designing and is now delivering a fleet of its own Bitcoin vending machines, the Moneero BTM. Partnered with an ATM industry veteran, Moneero developed and will produce Moneero BTMs at its partner's high capacity facility. The first Moneero BTMs will be installed in popular public locations in Montevideo and Punta del Este, Uruguay, before the end of this year. Moneero BTMs will also be deployed in seven different countries with its partners.The Moneero BTM plays an integral role in Moneero's ecosystem where users can send bitcoins to 6.8 billion cellphones and share bitcoins with 1.5 billion social media accounts. Moneero BTMs can be configured to accept cash from virtually any country and allow users to load their Moneero accounts with bitcoins.The indoor machine has a vandal-proof 17-inch touch screen, high resolution camera, steel numeric pad, thermal receipt printer, and card reader. The BTM uses strong encryption to connect wirelessly and will be bolted into its environment.Ordering a Moneero BTM requires partners to become a Moneero Money Transfer Business Partner or a Moneero Certified Agent. The vetting process takes six to eight weeks to establish a banking relationship meeting the regulatory and legal requirements of its potential partners' jurisdictions. Moneero helps deliver a legal and regulatory solution to its MTB Partners and Certified Agents with its multi-factor user verification architecture, which makes following international AML/KYC standards simple for those in its regulatory network.