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Now users can sell Bitcoin for cash, thanks to new addition by LibertyX

Photo of: Dennis Ramos
by Dennis Ramos

LibertyX is a name that is associated with a robust retail network that has enabled instant purchase of Bitcoins at 5,000 ATMs and 20,000 chain store locations. Today, LibertyX has made a grand announcement, which is its ability to sell Bitcoin and withdraw cash across its network of participating ATMs. The users can now access the app and visit their neighborhood ATM and get the convenience of converting their Bitcoin into cash in one go!

The CEO and co-founder of LibertyX Chris Yim said that prior to this announcement, the firm’s software supported only Bitcoin purchases with debit cards but this new feature and the latest addition to its repository of services will now let them receive cash for selling their Bitcoin. He also did not forget to mention that Bitcoin has reached a new high which will further lead to a better adoption rate in the future. He said:

“With the run-up in the price of Bitcoin, consumers are looking for a way to sell Bitcoin without dealing with wire or bank transfer delays.”

Yim added that consumers will now be able to sell Bitcoin for cash from the convenience of their local ATM. He added a touch of rhetoric by saying:

“From Madame Tussauds in Times Square New York to Moab Tourism Center in Arches National Park, U.S. consumers can use LibertyX to buy and sell bitcoin nationwide.”

Yim further stated that Bitcoin buying has never been easy, while selling also does not connote a different story. As of now, there are more than 15,000 Bitcoin ATMs across America but less than 2,000 ATMs allow customers to sell bitcoin for cash. 

“Our ‘cash-out’ product deployed across 5,000 ATMs triples the number of bitcoin ATMs where consumers can sell bitcoin furthering our mission of putting bitcoin on every block. Consumers feel more comfortable buying bitcoin when they know they can easily and quickly sell it back for cash.”

The new service is not without any fees. As per the information received from LibertyX’s helpdesk, the consumer fee at Bitcoin ATMs by LibertyX is 8%. Yim said that LibertyX’s BTC price is based on an index of exchanges that will track in close contact with Coinbase’s consumer prices. LibertyX presents a partnership with several independent ATM operators over 100,000 ATMs in the USA. In order to avail of this service, a simple and free software update from LibertyX will add the ability to buy and sell bitcoin to existing ATMs.

Before this, LibertyX came into high media focus and spotlight in October 2020 when there were certain reports claiming that the Tesla Fremont Gigafactory in Nevada had an operational Bitcoin ATM. A spokesperson from LibertyX has said that the company has enabled BTC sales and purchases at three accessible by all employees ATMs at Tesla in August this year.

LibertyX was founded in 2013 and is touted to be America’s first and largest retail network of Bitcoin-based ATMs cashiers and kiosks.