One of the biggest criticisms of cryptocurrencies is their difficulty to convert into fiat currency (and vice versa) and their inability to be used for everyday purchases. The Ittrium team envision the ability to quickly and conveniently convert Ittrium into any fiat currency via a worldwide network of cryptocurrency Automatic Teller Machines (ATMs). To achieve this, our main focus will be getting Ittrium supported by several major Cryptocurrency ATMs.
Cryptocurrency ATMs make it much, much easier for people to convert crypto into cash and vice versa. People can simply walk up to the cryptocurrency ATMs and scan a QR code of their wallet address to make a withdrawal in the local fiat currency within a matter of seconds. It is extremely simple, fast and convenient. Alternatively, people can also purchase Ittrium by inserting their local fiat currency into cryptocurrency ATMs.
Cryptocurrency ATMs are relatively new, first appearing in 2014 and as of Sept18 there were 3,700 in over 60 nations worldwide. According to the world bank, in 2016 there were approximately 3.5 million traditional ATMs worldwide, so in comparison, Crypto ATMs are still relatively sparse. That said however, if you live in a city with a population of over 1 million people, there is likely a to be crypto ATMs within several kilometres (https://coinatmradar.com/). Furthermore, if historical growth in crypto ATMs continues, within 10 years there could be as many crypto ATMs as traditional ATMs (see figure below). In other words, there will be one just around the corner