ADA in 3055+ Bitcoin ATMs Globally!

We will integrate ADA into the General Bytes Bitcoin ATM software. We will do this by developing an extension for ADA in the software.

We own a growing network of Bitcoin ATMs. We also run the Cardano Abu stake pool and have actively been involved in Cardano since 2017.

We use the General Bytes manufactured ATM machines and they have over 3055+ machines installed around the world. We've been in discussions for some time with IOHK, General Bytes, and Vaccumlabs about adding support and understand the technical requirements. Information here: https://github.com/GENERALBYTESCOM/batm_public/issues/241

Scope of project:

ATM operators will be able to sell Ada and will have the following 2 buy strategy options in their system:

1 - Purchase coins from an Exchange and send them directly to a customer from the Exchange.

5 - Send coins to a customer from Exchange without purchase on Exchange.

To implement we will add an extension and commit it back to the public repository making the integration available to all ATMs globally.

There are sample integrations available inside this repo that are used in production

https://github.com/GENERALBYTESCOM/batm_public

Budget estimate

1. The development estimate from Vaccumlabs is €5,000 euro ( including contingency) and can be delivered within 1 month
2. This is an initial integration to allow all General Bytes ATM operators to sell Cardano through their machines though exchange integration ( Bittrex). Additional funds will be used for research and detailed technical specification of a Cardano hot wallet integration with Bitcoin ATM CAS software.

Performance Benchmarks:

1. Today Ada is available at No Bitcoin ATMs vs Ada is Available in over 3055 Bitcoin ATMs by December 2021. Once complete the code will be merged into the master repository and instantly available to all ATM Operators.
2. Today, Zero Ada sold at Bitcoin ATMs vs Millions of Ada sold at over 1000 Bitcoin ATMs by June 2021. (Note: not all operators will choose to support Ada, but we conservatively estimate that over 1000 Bitcoin ATMs will have ADA support by June 2021.) In total there are 10,860 Crytpo ATMs. 7,393 offer altcoin support, working out at 68%. 6,389 offer ETH support, working out a 58%. Based on market cap and growth, we estimate Ada will have 20-30% support in General bytes machines working out at around 600-1000 machines initially. You can see the share here: https://coinatmradar.com/charts/cryptocurrency-share/

Links

• https://boinnex.com/
• https://www.vacuumlabs.com/
• https://coinatmradar.com/manufacturer/5/general-bytes-bitcoin-atm-producer/
• https://www.generalbytes.com/en/support