Vancouver officially home to the world’s first Bitcoin ATM
Posted October 29, 2013 7:45 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The first so-called Bitcoin ATM in the world has gone live in Vancouver.
The machine allows users to exchange Canadian dollars for the digital currency.
Bernd Petak is a fan and has set up an account at the ATM.
While Bitcoin’s value tends to go up and down due to currency speculation, Petak says he expects the fluctuations to subside eventually. “There’s some restaurants in town and some other businesses that accept Bitcoin, and there are more all the time that accept Bitcoin. I think over time as more businesses accept it, that tendency to fluctuate will reduce.”
The kiosk is from Las Vegas-based company RoboCoin, and CEO Jordan Kelley says the machine is a much more convenient alternative to other forms of banking. “Online exchanges take days for you to sign up and actual execute a buy or a sell. With this it’s minutes, it’s instantaneous.”
Bitcoiniacs, the Vancouver company that bought and installed the ATM, says it plans to set up more machines across Canada.
