Virtual Crypto Technologies will offer ATM operators worldwide software that will enable users to buy and sell bitcoin at regular ATMs.

Virtual Crypto will remotely install its NetoBit Trader software in ATMs which until now only handled regular money.

The new software will allow customers to sell bitcoin and convert it into standard cash at any regular ATM, including ATMs that are not equipped with a camera. To sell bitcoin via the software, the user scans QR code that will appear on the ATM screen, a code which represents a series of variables regarding the bitcoin transaction that the user wishes to make. Shortly afterwards, the user will receive from the ATM fiat money in accordance with the amount of bitcoin sold. Similarly, the user can easily, quickly, and securely purchase bitcoin at regular ATMs equipped with a camera.

For both the purchase and sale of bitcoin at an ATM, Virtual Crypto’s software can verify the cryptocurrency transaction at the ATM within seconds to minutes, instead of 10 minutes to 24 hours, following the current process of six authorizations.

Virtual Crypto’s move helps break one of the main barriers to making cyrocurrencies available to the general public — the fact that, at present, the main way to carry out a bitcoin transaction at an ATM is by special ATMs adapted to cryptocurrencies, which are not widely deployed at this time, with fewer than 3,500 bitcoin ATMs worldwide.

“As a company whose motto is to make cryptocurrencies available to the general public, it is clear to us that the possibility of buying and selling cryptocurrencies at regular ATMs can create an unprecedented boom in payment options by currencies such as bitcoin,” says Virtual Crypto CEO Alon Dayan. “This is why Virtual Crypto is starting to make its proprietary software for enabling real-time crypto transactions available to ATM operators, such as banks, worldwide. We are convinced that banks and other institutions will realize the advantage in letting ATM users buy and sell bitcoin on the world’s most accessible financial hardware — the ATM.”

Virtual Crypto Technologies is the developer of NetoBit, a proprietary, cryptographic algorithmic technology that it is able to confirm in real-time the purchase or sale of any cryptocurrency. The company is marketing its NetoBit software and hardware products for the purchase and sale of cryptocurrencies through ATMs, tablets, PCs and mobile devices.