LibertyX, formerly known as Liberty Teller, is best known for launching the first Bitcoin ATMs in the U.S in 2014. Though they no longer operate the ATMs, Liberty X has grown to be the largest retail Bitcoin exchange network in the United States. Users install the app and then can search for the most convenient local retail partner that accepts cash payments in 39 of the US states.
This retail exchange is perfect for US residents who want to quickly buy Bitcoin with cash. LibertyX announces on their site that they are currently seeking solutions to add more payment options and possibly more coins other than BTC. In Sept 2017, the interface was updated in order to standardize the user experience across the mobile and web platform both for beginners and experts.
Crypto Currencies Support
Traditional Currency Support
- US Dollar (USD)
- US partial
- Web Interface
- Mobile App
LibertyX security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.
Founded in 2013 by Chris Yim and Kyle Powers, Liberty Teller was featured in the news for launching America's first Bitcoin ATM in Boston's South Station. Meanwhile, the Massachusetts-based company has re-branded as LibertyX, sold its BTC ATMs, and focused on forming partnerships with thousands of US stores. In 2017, they were featured in the news for their partnership with Airbitz Wallet.
LibertyX is best for US residents who want to buy BTC with cash. The company is KYC/AML compliant, so it is not the best option for those seeking anonymity. Currently the business model relies heavily on partner stores knowing and following LibertyX payment processes. Unfortunately, many user reviews state the contrary. But if you live near a partner store, it's worth giving a try.
Deposit using 3rd party
LibertyX app allows users to find the closest partner store or choose the one with the lowest fees. Once the preferred store is selected, the platform will show specific instructions on how to purchase from that store, in amounts of up to $1,000 in Bitcoin per day. LibertyX advertises that Bitcoins are instantly sent to the wallet provided by the user.
Some stores charging more than the fees displayed on the platform, store customer service not knowing how to cash in for LibertyX payments