Elon Musk’s Tesla factory installs Bitcoin ATMs for employees

Bitcoin ATMs are suitable option for transactions. A Bitcoin ATM has been installed at the Tesla Fremont Gigafactory in Nevada.

By · Oct 12, 2020 . 6min read

Tesla factory installs Bitcoin ATMs news

According to reports, Tesla has added new Bitcoin ATMs exclusive for employees in Gigafactories in Fremont and Nevada. Twitter user Will Reeves spotted one of the machines. LibertyX confirmed that certainly ATMs are installed in the factory. The ATM has been active since August and is only available to Tesla employees. LibertyX is America’s largest Bitcoin ATM network.

Nevertheless, LibertyX elucidated that the company did not establish a new ATM booth at the Nevada site. Rather, it appended the Bitcoin-selling features on three existing ATMs in the factory utilizing the software. Apart from the Nevada site, LibertyX’s website also lists a Bitcoin ATM in Tesla’s Fremont factory, exclusive for its employees’ use.

However, the Bitcoin company did not verify whether it plans on installing more Bitcoin ATMs at different Tesla factories. Presently, the Nevada and Fremont sites are test markets for analyzing Bitcoin ATMs have become popular amongst electric automaker employees.

LibertyX has already collaborated with Genmega and Hyosung. They are the two largest ATM manufacturers to have its bitcoin software preinstalled on conventional automated machines. This would enable customers to buy bitcoin utilizing their debit cards from ATMs when operators stimulate the bitcoin feature. LibertyX explains that it has 5,000 live ATMs. It plans to roll out over 100,000 ATMs over the next few years.

Elon Musk one of the biggest proponent of Bitcoin

The Bitcoin ATM installation does not come as a shock, contemplating that Tesla founder Elon Musk is a big fan of the technology, and he even revealed owning 0.25 Bitcoin.

In May, the billionaire was voted as the theoretical CEO of Dogecoin. He spoke emphatically about the cryptocurrency on some occasions. There were also reports that Musk was the mysterious Bitcoin founder who goes by the name Satoshi Nakamoto, but Tesla debunked the claims.

In previous tweets, Musk said central banks such as the US Federal Reserve have made bitcoin look trustworthy by associating themselves with it because of the current behaviour of drawing money into the economy. Bitcoin ATMs are frequently becoming the most suitable alternative to crypto exchanges and banks. The option to buy bitcoins in ATMs is convenient and safe.

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