Meet your Bitcoin ATM: Digital currency craze hits Seattle, with help from startup vets

robocoin01 May 2014 / Geek Wire – Seattleites have a new and easy way to buy and sell Bitcoin.

The city’s first-ever Bitcoin ATM went live today at the Spitfire Grill in Belltown, allowing people to make secure transactions with the volatile cryptocurrency that has been making headlines for the past year or so.

The ATM, open seven days a week from 11 a.m. to 10 p.m., scans your palm and allows you to exchange cash for Bitcoin, or do the reverse. Customers can make up to $3,000 worth of Bitcoin exchanges per day.

The machine is manufactured by Las Vegas-based Robocoin, which also built the world’s first Bitcoin ATM that was installed in Vancouver, B.C., this past October. It is operated by Coinme, a new Seattle company that will manage the kiosk and take a small fee for every transaction made on the ATM.

Coinme General Manager Nick Hughes, who previously co-founded a mobile payments startup called Seconds, told GeekWire that the inspiration for starting Coinme came out of a frustration from the lack of accountability and authenticity in the digital currency industry. Coinme wants to help people make secure transactions with Bitcoin and educate them on what cryptocurrency is really all about….. Read more

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