City’s first Bitcoin ATM makes debut

bitaccess16 Feb 2014 / Global News – CoinFest 2014 kicked off Saturday with the debut of Winnipeg’s first Bitcoin ATM and the fourth of its kind in Canada.

Bitcoin is a cyber currency that exists online that isn’t regulated by any government or bank.

Anyone can create an account and use the virtual wallet to make purchases at businesses that accept Bitcoin.

To use the ATM, customers insert their traditional currency in exchange for virtual money which is added to their virtual wallet at the current stock exchange rate that fluctuates every five seconds.

 “It’s different in that you don’t need a bank or a third party involved in the transaction, you control your money, you own it,” said BitCoin Winnipeg founder, Josh Nelrep.

So far there are only four companies in Winnipeg that use Bitcoin, however Nelrep expects that number to grow exponentially by the end of this year alone….. Read more

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