First Midwest Bitcoin Kiosk to be up by Spring, Local Entrepreneur Hopes

midwestbitcoinatm18 Dec 2013 / DNAinfo Chicago – SOUTH LOOP — South Loop resident Rich Gatz thinks Chicagoans are ready to start using the digital, unregulated currency known as Bitcoin — and hopes to soon open the first  ATM-like kiosk in the Midwest that allows users to trade them for cash.

Gatz, a liability claims specialist and bitcoin hobbyist, has formed a company called Windy City Bitcoin. He has ordered a kiosk from Las Vegas-based Robocoin, the only manufacturer of a bitcoin ATM that exchanges cash for bitcoin and vice versa.

The first and only kiosk is up and running in a Vancouver coffee shop, but none are operational in the U.S.

While Gatz’s initial goal was to operate the first Robocoin kiosk in the U.S., Sam Glaser, a spokesman for the company, said Tuesday the company is shipping one to the East Coast in January, and that company is confident it will beat Gatz to the punch.

Still, Gatz, 32, said he is OK with having the first kiosk in the region, possibly by March — if state regulators don’t get in his way.

“I want us to be the Midwestern center of crypto-currency — to create a community around bitcoins here,” said Gatz, who’s funding the project with the spoils of his own bitcoin investments and backing from two supporters…… Read more

Photo credit: David Ryder/Getty Images

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