Overview: Claim 1 is the key independent claim in U.S. Patent No. 10,332,205. As you will see, it covers the key elements in virtually every Bitcoin ATM in use today.
Claim No. 1 A device comprising:
a bill validator;
a bill dispenser;
a user interface; and
a processor programmed to run executable instructions, said executable instructions causing said processor, responsive to a request by a user via said user interface, to:
for purposes of receiving Bitcoin in exchange for cash: (i) upon availability in a local Bitcoin inventory associated with said device and accessible by said processor, transmit Bitcoin from said local Bitcoin inventory to a remote unique user-supplied digital address in exchange for cash inserted into, and said cash validated by, said bill validator, said remote unique user-supplied digital address supplied by said user via said user interface; and (ii) upon a lack of availability in said local Bitcoin inventory, automatically communicate, via a network connection, with a third party Bitcoin exchange remote from said device to determine availability of Bitcoin at said Bitcoin exchange at least equivalent to said cash inserted into said device, if available at said Bitcoin exchange, purchase Bitcoin, accept said purchased Bitcoin into said local Bitcoin inventory and electronically transmit said Bitcoin to said remote unique user-supplied digital address in exchange for said cash inserted into said bill validator; and
for purposes of receiving cash in exchange for Bitcoin: verify Bitcoin transmitted by said user from said remote unique user-supplied digital address to said local Bitcoin inventory and, if verified, dispense cash via said bill dispenser in exchange for said Bitcoin transmitted by said user from said remote unique user-supplied digital address to said digital Bitcoin inventory.
Claim Charts: Claim Charts that map Claim 1 of U.S. Patent No. 10,332,205 against the most popular Bitcoin ATMs are available upon request at licensing@BitcoinATMPatent.com.
This patent was acquired using the services of IPOfferings LLC, a patent broker and provider of patent valuation and IP consulting services such as patent infringement analysis and claim chart development. IPOfferings also designed the licensing program for U.S. Patent No. 10,332,205 and developed the Claim Charts.