RockItCoin, one of the nation’s largest bitcoin kiosk operators, partnered with the Blockchain Institute to install its 200th cryptocurrency kiosk, located at 4649 N Broadway inside the Hackhaus co-working space.
“This installation marks yet another milestone in our company’s growth,” said Michael Dalesandro, CEO and founder of RockItCoin. “After installing machines across the country, it means a lot to install our 200th one in Chicago, where we started the company.”
The Blockchain Institute was founded in 2018 to promote the adoption, development, and use of blockchain technology. “Our mission is simple: providing education material and courses for all that are interested in learning about this new technology,” explained Taylor Gerring, Executive Director of Blockchain Institute.
“There is no better demonstration of blockchain than the cryptocurrency that started it all – bitcoin,” said Hannah Rosenberg. “Partnering with RockItCoin to bring a kiosk to our space gives those wanting to learn more about blockchain a real world application of it.”
Blockchain technology has moved beyond just cryptocurrencies like bitcoin, according to Dalesandro. “We see this technology being used to process payments, monitor supply chains, create digital IDs, regulate data sharing, authenticate real estate transfers, and even create secure voting mechanisms. The possibilities are endless.”
“While RockItCoin has focused primarily on cryptocurrencies up to this point, we are now expanding into other applications of the blockchain,” said Dalesandro. “We share the belief of the Blockchain Institute that this technology is game changing, and RockItCoin wants to be at the forefront.”
Cryptocurrency kiosks are typically found in convenience stores or gas stations, much like traditional ATMs. RockItCoin kiosks allow customers to purchase or sell a variety of cryptocurrencies, including bitcoin, bitcoin cash, litecoin, and ethereum. Bitcoin kiosks operate as an automated teller, exchanging digital bitcoins into US dollars or dollars into bitcoins.
“Our kiosks provide consumers with a safe, efficient, and fast way to obtain or sell bitcoins,” explained Dalesandro. After providing the RockItCoin kiosk with proper identification and validation done through a cell phone’s text messaging, customers can buy or sell bitcoin at the kiosk. Depending on the amount transacted, the whole process takes not much longer than a standard ATM visit.