BTC China announced the creation of the Picasso ATM, for use on smartphones, through which the digital currency bitcoin can be exchanged for money.
Users of the Picasso ATM app will first be able to “load” the digital currency into BTC China’s Picasso Wallet and then be able to make exchanges and transactions through the web app. Accordingly, buyers will be able to immediately confirm the transaction from their devices. In addition, security confirmation will be required from both parties to complete the transaction.
The application is aimed at both ordinary users of the digital currency Bitcoin and entrepreneurs or shopkeepers. Furthermore, since Picasso ATM is a web app, it does not require downloading and installation on smartphones, so according to BTC China, it avoids the controls and regulations that govern online application stores.
Although the price of Bitcoin has fallen significantly recently, reaching $455.50, Bobby Lee, CEO of BTC China, one of the largest Bitcoin exchanges in the world, told TechCrunch that the price volatility has not affected Bitcoin’s viability. He also expressed confidence that new products will continue to be launched “to encourage international use of Bitcoin.”.
Source: secnews.gr
