Thursday, December 25, 2014

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Turning Old Gadgets Into Cash With ‘ecoATM’

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TWC News: Turning Old Gadgets Into Cash With ‘ecoATM’
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If you are looking to get rid of old gadgets this holiday season, there is one company that is making the cash trade-in process quick and environment-friendly. NY1’s Adam Balkin filed this report.

It can be confusing getting rid of old technology after getting new stuff for the holidays. Many people have no clue where to start when it comes to getting good money back. Many also wish to avoid contributing to the growing problem of e-Waste in our landfills. A simple search online will turn up plenty of websites for selling your old gadgets. You can also go to your local electronics store, and chances are, they will take what you have and exchange it for store credit. The quickest, instant gratification solution though may very well be a relatively new piece of technology - the ecoATM. Bring your phone, camera, and other devices to the machine, it will evaluate your device, even try to confirm ownership, and then spit out some cash right then and there.

“It uses a combination of machine vision, artificial intelligence and electronic inspection. It can grade every device by model and by condition, in eight different conditions, and pay you market value for that device on the spot,” says Mark Bowles of ecoATM.

Now at this point you have probably figured out why it is called an ATM, but you may still be wondering what makes it an “eco” ATM. Well, designers are billing the machine as the world’s first automated eWaste recycling station.

“We have a lot of environmental certifications; we take the environmental part of it very seriously. 75 percent of what we collect ends up being reused, refurbished and reused as the device it started as. The other 25 percent is either too old or too broken; we cannot find a market for it. So that goes back for material reclamation. We get the gold, platinum, palladium, silver back out. There’s about a dollar worth of precious metal in each phone, we get that back out so we don’t have to mine that stuff out of the earth," says Bowles.

If you have the time, when selling a device, it is best to weigh a few options and figure out which one offers the best value for you. If you are looking for a quick, low-hassle approach, you can find the nearest one of these by heading over to ecoATM.com.

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