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Published on January 15th, 2012 | by Olawale Daniel

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EcoATM – New ATM turns your old phone into cash

The International Consumer Electronics Show that was help in Las Vegas is all about the latest smart phones, tablet PC and other devices. But what about the old gadgets? Don’t they get any love?

At the event there was a gadget that was made mainly for recycling of gadgets and that means, old phone will now have a fitting home at the end.

The gadget works in amazing way by just dropping your phone into the EcoATM, and the gadget will pay you the exact price that your handset is worth. The cupboard sized machine has a large touchscreen and a big metal mouth where you can place you phones (old phones) or MP3 player. It takes pictures of the device you inserted into it and figure out its shape and it has a cable that will connect to your phone to confirm it is working and then  it will give you the exact price of your device.Gadget Watch Cell Phone ATM

Once it finalizes its analysis, it will give you the quote of your device on that same spot based on the amount the networks of electronics recycling companies are willing to pay for such. If you accept the price, it will splits out the cash. In an interview by EcoATM founder Bill Bowles, he says:

An older phone might not be worth reselling, but the machine will take it anyway, and give you a dollar. The company will melt down the phone in an environmentally friendly fashion to extract the precious metals from it.

WHY IT’S HOT: It’s tough to recycle old electronics. Collection bins are few and far between, though some electronics stores accept items for recycling. You can sell newer phones on eBay, but it’s a bit of a hassle.

THE UPSHOT: A fast way to deal with old electronics that keeps your conscience clean and might give you a bit of extra money.

THE DOWNSIDE: The EcoATM’s quote probably won’t match what you can get for your item on eBay. On the other hand, you avoid eBay’s seller fees. You have to physically go to the ATM. It’s a big machine, about twice the size of a regular drugstore ATM. It has a lot of complicated moving parts, and could be prone to breakage.

AVAILABILITY: There are about fifty of them deployed right now, mostly in grocery stores and malls in California. The San Diego-based company behind the machine says it plans to have about 500 out at the end of this year, spreading eastward. Fox News

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About the Author

Olawale Daniel is a Business Psychologist and Efficiency Expert with little-to-no-coding experience, but he knows how to run into trouble while coding! Follow Olawale on Twitter | Google+. TechAtLast is a blog for latest technology trends, events reporting with tutorials, hacks, guides and support for internet users. For advert placement, check our Advertisers page here to build audience for your business. You can as well order Sponsored Product Reviews here for your start-ups and established businesses. Follow on | Facebook | Twitter | Google+ | Pinterest



8 Responses to EcoATM – New ATM turns your old phone into cash

  1. Jack says:

    Very cool. I wonder how long it will take people to defraud the system.

    • Olawale Daniel says:

      Maybe 100,000,000,000,000000 years… But I don’t think it is hard to do since it is going to be human being that would be controlling it :)

  2. Gaurang says:

    EcoATM… Best For those who want instant money for there gadget.

  3. Armando says:

    These machines are nice but let’s get real, you aren’t going to see one near you till about 2015. For now your best alternative is to mail your cell phones to http://www.technollo.com. They offer better pricing, free shipping and department of defense data wiping processes that ensure your phone is recycled properly. Or if you want to talk to a human call us at 888-242-1110 and we’ll be happy to help you sell us your smart phones.

  4. Watch Free Movies Online says:

    When will you launched in market….?

  5. pierre davis says:

    nice machine, so what are the advantages and benefits ? how long does it last? anyway i really appreciate sharing your thoughts. more blogs i’ll be looking for best blogs of yours. thanks a lot.

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