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HOW IT WORKS
Cash for crypto in seconds.
ForumPay’s cryptocurrency ATMs function as both an ATM and an exchange bureau.
Each ATM has its own blockchain address, so crypto users can send their crypto to that specific ATM to then take out cash in the FIAT currency of their choice, at much lower fees than a traditional exchange bureau.
Purchasing crypto
New crypto consumers can also use the ForumPay ATM to purchase crypto with cash, without having to go through a crypto exchange.
The consumer approaches the ForumPay ATM with their digital crypto wallet.
CRYPTO TO CASH
They scan the QR code on the ATM generated by ForumPay and the crypto sale is executed at the best available conversion rate.
The currency exchange receives the payment and the ATM pays out to the consumer in cash.
CRYPTO TO CASH
CASH TO CRYPTO
The consumer inserts their card or cash into the ForumPay ATM and scans their digitial crypto wallet's QR code.
The crypto purchase is executed by ForumPay at the best available conversion rate.
ForumPay sends the purchased crypto funds to the consumer's digital crypto wallet.
CASH TO CRYPTO
ABOUT OUR ATM SOFTWARE
- ForumPay provides physical exchange support for Bitcoin, Litecoin, Ether and Bitcoin Cash & Dash.
- Our ATMs feature an admin dashboard for monitoring transactions, exchange rates, billing, balance and reports.
- Each payment is assigned its own blockchain address and generates automatic confirmations of cryptocurrency payments.
- ForumPay ATMs are secure and compliant, with two-factor authentication with each login.
- All website data is transmitted via encrypted TLS for enhanced protection.
- ForumPay is authorized and licensed in the EU to conduct cryptocurrency-to-FIAT exchange services.
WHY FORUMPAY?
ForumPay elevates transactions, enabling businesses to secure new revenue streams without added risk or complexity. ForumPay is meticulously designed to address the challenges faced by global businesses and payment processors by guaranteeing scalability, compliance, speed, and security. ForumPay solutions empower users with the ability to:
- Reach over 575 million crypto-consumers via a wallet-agnostic solution.
- Avoid cryptocurrency volatility through instant confirmation and conversion to USD, EUR, GBP, or other traditional FIAT currencies.
- Receive direct bank deposits on a daily basis.
- Integrate the system smoothly into existing payment flows.
- Transact safely with dependable security measures.
- Assure compliance with all international jurisdictions.
- Benefit from established trust with top payment leaders.
Step confidently into innovative transaction processing with ForumPay.
SECURITY AND COMPLIANCE ABOVE EVERYTHING ELSE
ForumPay’s ability to authenticate the origin of funds and the duration of digital assets in a particular wallet earns it the distinction of being an approved solution by Fannie Mae and Freddie Mac.
We ensure the highest level of KYC/AML compliance and security for our merchants through our partnership with Sum & Substance.
We instantly verify the consumer’s wallet, availability of funds and flag any security concerns with our partners at Chainalysis.
FAQs
A cryptocurrency ATM functions much like a regular ATM. They allow you to exchange your cryptocurrency for FIAT currency (cash), or vice versa. However, there is no affiliation to a financial institution or bank, as cryptocurrency networks are decentralized. Essentially, you can buy and sell crypto autonomously, meaning you do not need to have access to a computer or phone to do so.
One of the greatest benefits of using a crypto ATM is the rapid transaction speed. When you use a cryptocurrency exchange on your computer, the verification processes and transactions can be slow. Another benefit is that you are able to receive cash in hand instantly, whereas when you use an online exchange on your phone or computer, the money only exists digitally. Also, some cryptocurrency ATMs don’t ask users to verify their identities. If you’re looking to keep your transactions anonymous, this can be a more attractive choice than using cryptocurrency exchanges.
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