Bitcoin ATMs Coming to Seattle and Austin
The first Bitcoin ATMs are on their way to the US. Recently a bitcoin vending machine was installed at a cigar bar in Albuquerque, New Mexico, and two ATMs are set to be installed in Seattle, Washington and Austin, Texas.
The machine in New Mexico was manufactured by Lamassu Inc. It allows users to scan their bitcoin QR code from their smartphones, they can then insert cash and this will be converted to bitcoins in their digital currency wallet.
The ATMs, which are made by Robocoin, are more advanced than the vending machine. Not only can users deposit cash, but it is also possible to convert bitcoins to dollars and withdraw cash. Robocoin’s machines are also equipped with extra security features such as optical and biometric scanners; they can also scan government-issued IDs such as driving licenses and passports.
The first Robocoin machine was installed in Vancouver last year and there is more set to open in Singapore and London in the near future. During its first month of transactions, the Vancouver machine traded a total of $942,000. So far fifty ATMs have been sold by Robocoin to operators around the world; however, the majority are not yet operational.