Bitcoin ATM on its way to Britain

bitcoin-atm20 Feb 2014 / Telegraph – British investors will be able to buy and sell bitcoins from a cash machine under plans announced by an American company.

The machine will be installed somewhere in London, although the company behind it, Las Vegas based Robocoin, could not say exactly when it would become operational.

The ATM will allow people to deposit cash to buy bitcoins, or sell bitcoins for cash, by transferring funds to or from a “virtual wallet” on a smartphone, which the user holds up to a scanner on the machine.

The bitcoin dispensers will also scan government-issued identification such as a driver’s licence or a passport to confirm users’ identities.

A spokesman for Robocoin told The Telegraph: “It [the bitcoin ATM for London] has already been purchased and the wheels are in motion.”

The company has already installed two machines in Canada and plans more in the US, Asia and Europe. Another company, General Bytes, installed a bitcoin dispenser in Prague this week. It said hoped to make as many as 500 of the machines a month and install them around the world….. Read more

Follow Twitter

Exchange Rate