Key facts:
It is an open source project that gives users self-custody options.
The teller charges fees of $0.01 for routing a payment through Lightning.
A couple of developers announced a Bitcoin (BTC) automated teller machine (ATM), which, in addition to working with the Lightning Network (LN), allows self-management of finances and can be assembled by whoever buys it.
The cashier is called Bleskomatan open source based device where each owner has a choice of self hosting or self hostingwhere you can also use the company’s server, designed to facilitate Lightning payments.
It is a one-way device, meaning customers can only buy bitcoins from the ATM using fiat currency and bills. The device allows you to configure the currency that will be accepted. Furthermore, it allows merchants to view transactions in real time without trusting anyone else.
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Something interesting is that, in addition to being sold ready for configuration and use, Bleskomat representatives offer the ATM disassembled, so that it can be individually assembled and modified as desired, although the manual must be followed to complete its installation.
According to Bleskomat, the ATM works with most fiat currencies in the world, with which fractions of bitcoin can be purchased. For developers, the device aims to make Bitcoin’s Lightning Network accessible to regular business owners.
Low commissions thanks to Lightning
The device charges a small commission for operations, of 0.01 dollars, precisely, for using the Bitcoin micropayment solution to operate and carry out transactions. “A small fee is paid to route the payment through the Lightning Network until it reaches the recipient,” they explain.
For those promoting the ATM, low fees make it easier for a merchant to allow users to buy bitcoin in very small amounts, incentivizing adoption. “That’s just not possible with legacy bitcoin ATMs,” they say.
The equipment allows payment processors, such as OpenNode, to operate in the Bitcoin ATM, through the bleskomat server. This allows you to connect the device with any of the different service providers that also support LN.
The developers of the ATM, Charles Hill and Carlos Garcia Ortiz, recommend six Bitcoin wallets that can work better with the ATM. As they state, With these applications, the arrival of new users to the ecosystem is promoted.
The six wallets recommended by Bleskomat are Breez, Muun Wallet, Phoenix, Wallet of Satoshi, Blue Wallet and Simple Bitcoin Wallet. All the applications coincide with the bitcoiner philosophy.
LN ATM Projects
The possibility of creating your own bitcoin ATM connected to the Lightning network is old data. CriptoNoticias reported in September 2019 when a market researcher and enthusiast published a software code called LightningATM, which made it possible to exchange cents for satoshis.
At that time, tutorial photos were also published to install the circuits and create a home ATM that runs the software to start working with bitcoins. Like now, it was thought of as a model to sell bitcoins to customers in businesses, being able to distribute small amounts of BTC, accepting purchases of up to USD 0.2.
Although it is not known what software Bleskomat uses, it is important to note that approximations had already been given for a device like this to be marketed.
However, this would be establishing itself as one of the few that, offering self-management and monitoring of funds, seeks to expand the use of LN and, with it, the use of bitcoin as an exchange asset.
