The US May Get its First Bitcoin ATM by the End of February

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The US May Get its First Bitcoin ATM by the End of February
The US May Get its First Bitcoin ATM by the End of February

The US May Get its First Bitcoin ATM by the End of February

According to the sources from Robocoin later this month it will install the first automated teller machines in the United States. It believes that with Bitcoin ATM users would buy and sell Bitcoin, the latest step into the mainstream for the digital currency without much hassle. ForexMinute has already reported that several Robocoin ATMs are operating in Canada.

The sources from Robocoin claim that the kiosks which would be installed in Seattle, and Austin, Texas, are similar to ATMs; however, one peculiarity with them is that they have scanners to read government-issued identification such as a driver’s license or a passport to confirm users’ identities so that any conflict is ruled out with the authorities.

There are some guidelines which have been issued by the US government regarding the identity of Bitcoin users and Robocoin seems to be following the same as the Bitcoin ATMs will allow people to swap Bitcoin for cash, or deposit cash to buy more Bitcoin by transferring funds to or from a virtual wallet on their smartphones using the right ID proofs.
Robocoin Bitcoin ATMs Operating Successfully in Canada

This Las Vegas based Bitcoin ATM company has successfully installed its first Bitcoin ATM in Vancouver. There are several other Bitcoin ATMs that are expected to operate in Calgary, Alberta, later this month. Ambitious projections are also at the place as Robocoin is planning to install ATMs in Asia and Europe.

Earlier, this Bitcoin ATM pioneer had launched a campaign to get its machines installed around the world and for that it was offering a $10,000 Bitcoin incentive to promoters who sign up. The program was named ‘Robocoin Ambassador’ and meant to encourage entrepreneurs to come forward and participate in popularizing Bitcoin ATMs.

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Entrepreneurs Receive Attractive Bonuses on Installing Robocoin Bitcoin ATMs
Robocoin offered participants 25% of a machine’s fee revenue until the amount reaches $10,000 and to earn that $10,000 an Ambassador needed to find potential Robocoin operators who would then guide them through the purchase process and then actively promote machines ones they’re installed.

The self-proclaimed the first ‘real’ Bitcoin ATM, Robocoin offers two-way transactions which if compared with other similar machines that dispense Bitcoins in exchange for cash, seems better placed.

Nonetheless, as Robocoin ATMs also dispense cash for Bitcoins, their popularity has gone up several notches. The year 2014 according to the company will see several of its machines being installed in Asian countries including of Singapore.

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