Cryptocurrency ATMs allow people to physically fund their crypto or, in some cases, buy things down the road. Their growth reflects the growing interest and acceptance of cryptocurrencies. However, despite their growth, many of these ATMs are being operated in a way that is contrary to some of the principles of using blockchain technology.

Existing ATMs are not only privately held, about 75% of which are in North America and about a quarter in Europe, but are also designed to be authentic and anti -confidential. In line with its blockchain platform and strategic policies, Vellorex provides the ability to manage “anonymous, distributed cryptocurrencies for the local economy and users,” according to its white paper.

Velorex is a European -based technology provider that provides DeFi hardware and software solutions. It aims to increase information and spread awareness through the most popular tools such as ATMs and debit cards. He stressed that this is especially true in emerging or emerging markets, where many to date often do not have banks that can have the opportunity to participate in their economies in the future. local.

Velorex Bankless ATMs use special software that is directly linked to global exchange (DEXs) such as PancakeSwap (CAKE). This method is also different from the traditional “master wallet” model used by financial institutions.

This sharing system is not only consistent with blockchain policies, but also makes it easier for non -funded ATM holders to comply with regional and local regulations. ‘iala. This means that the owners must provide satisfaction as well as appropriate instructions. Customers can choose from a number of models, each with a local language, including the basic model starting at 5500 and earning 1-3% profit on trades.

More information from VELOREX here
However, the real benefit of using these devices comes in the form of “thinking”. All transactions at an unsigned ATM receive a distribution in the form of the Velorex token VEX. VEX holders get insights even if the trades are for different brands, increasing the motivation to stop brands as the network expands.

Cards and wallets
Another way to authenticate the Vellorex community in crypto is with a credit card. Velorex allows users to transfer their crypto assets to products and services in a physical location or use, while using the owners’ VEX assets to pay for the transaction. purchase of debit cards.

However, as users become more familiar with the system, they are encouraged to switch to the Velorex smart wallet. They work closely with Bankless ATMs as one for money management. Similarly, like most bank accounts, Smart Wallet allows multiple wallets. In addition to saving resources, users can send messages quickly without the cost of gas transactions. In addition, Vellorex provides 24/7 support for any technical issues users may face.

Underneath it all, there is a special BEP-20 brand, powered by the Velorex VEX brand, launched on the Binance Smart Chain (BSC) in May 2021. VEX will be used as currency. familiar with Velorex products and also listed above. PancakeSwap.

With a total operating volume of 500 million, VEX is designed to be hyper-deflationary to increase its value and stimulate ownership at the same time. In order to provide adequate supply and prevent “over -distribution”, a portion of each trade tax is still incurred. In addition to transactions at ATMs, VEX customers also get their VEX transactions reflected in PancakeSwap. In the meantime, an automated installation system that continues to generate bus revenue provides some incentive to stop VEX.

With ATMs, debit cards and smart wallets launching later this year, Velorex plans to list VEX on other exchanges next year and expand its core numbers and partnerships.

“Our main goal is to bring ATMs and computers to all markets around the world with technologies that combine the capabilities of anonymous, specialized cryptocurrency transactions with local economy and consumers,” the statement said. said Vellorex co -owner and COO. , Thanos Lampropoulos.

Trade listings and news
Velorex is having a very important AMA with the LBank Exchange Team on December 21 as they will be the first private equity firm.

Source: CoinTelegraph