Australia Will Soon Have First Bitcoin ATM

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Australia Will Soon Have First Bitcoin ATM
Australia Will Soon Have First Bitcoin ATM

Australia Will Soon Have First Bitcoin ATM

Earlier the reports were in the media that the first ever Bitcoin ATM in Australia was to be opened on 14th March this year; however, that could not happen. Now, two companies are racing ahead to install the first ever Bitcoin ATM soon in the country. The machines have been shipped by two firms e.g. Australian Bitcoin ATMs, Krypto Currency Solutions.

The two Bitcoin ATM companies will set up their machines in Sydney and according to a statement issued by Australian Bitcoin ATMs the first machine is scheduled for installation in Sydney’s Pitt Street Mall “before the end of March”. Bitcoin supporters in the country hope this time it is actually installed for the better as they have been waiting for long now.

Last Wednesday, talking to media people Krypto Currency Solutions’ CEO Robert Masters said his company’s first BTC ATM would be operational within two weeks. Although he did not clear the exact location of the installation, he indicated that it would in all probabilities be somewhere in Sydney’s CBD.

Sources from the two companies that have shown their interest to install Bitcoin ATM, both machines are from Robocoin, the US firm credited with providing the world’s first Bitcoin ATM. Several countries have Bitcoin ATMs from Robocoin, a company that got first ever such machines installed in Vancouver cafe in October last year.

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Robocoin says that each machine costs close to $20,000 which is too pricey. To bring BTC ATMs from other companies Australian Bitcoin ATMs is also trying to coordinate with Israeli and Canadian suppliers which have their own agenda to set up thousands of ATMs worldwide if the initial run is a success.

Bitcoin ATMs Will Help the Digital Currency Have Real World Presence

Robert Masters believes that by putting miniature Bitcoin exchanges on street corners, his company aims to popularize the cryptocurrency among users around the world as it will give higher accessibility to all. He hopes that in due time a lot more people will become aware of Bitcoin and the value it holds.

A major concern for Bitcoin companies is that the digital currency has so far been able to attract tech savvy people and not ordinary users. However, now the think tank wants to penetrate to that segment of customers as without them Bitcoin won’t be mainstream. Bitcoin ATMs are definitely the right way to reach the masses and get real world presence.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

  • Anonymous

    Fun game for free Bitcoin