You can buy bitcoins at South Station

southstation20 Feb 2014 / Boston Globe – The ATM at Boston’s South Station snatched the money from my hand and didn’t even give me a receipt. But my smartphone’s green glow let me know I had just invested $5 in the world’s most controversial, questionable, and exciting new currency, the bitcoin.

The machine, which is the first of its kind in Boston, was officially plugged in Wednesday morning — right next to Pinkberry — and began spewing bitcoins, virtually.

“You can think of it as Internet cash,” said Chris Yin, cofounder of Liberty Teller, the Boston company that operates the new bitcoin ATM. “This is just a more secure way of buying things online.”

It is also confusing to many people. That’s why a Google search turns up such posts as, “How to explain bitcoin to your grandmother,” and, “What the heck is a bitcoin?”

The five-year-old currency is not backed by any central government, but can be spent just like dollars in a small but increasing number of places, including some local restaurants and the popular online retailer

Bitcoins are stored by users in so-called digital wallets, and each coin has a unique online address. Transactions are managed by thousands of computers linked in a worldwide network, helping to ensure their integrity.

There is also the benefit of privacy. While purchases are shared with the entire network, creating a permanent record, users don’t have to personally identify themselves — the same way someone handing over cash at a register doesn’t have to provide the clerk with a name. The hackers who stole millions of credit card numbers from Target during the holiday season would have a much tougher time cracking the bitcoin code….. Read more

Follow Twitter

Exchange Rate