Bitcoin goes retail with Westfield ATM

australiaATM15 Apr 2014 / Sydney Morning Herald – The first two way Bitcoin ATM has debuted in Sydney CBD and its owners said it signified greater acceptance of global cryptocurrency despite a crackdown by major banks around the world.

Bitcoin rose to more than $1100 last year, but tightened controls and regulation by central banks around the world and the collapse of a major Tokyo-based exchange resulted in a fall below $400 last week.

The ATM machine, installed by ABA Technology Bitcoin, at Westfield’s Sydney Central Plaza on Pitt Street Mall went live on Tuesday morning enabling consumers to buy and sell bitcoins for cash from their Bitcoin wallets.

It follows the instalment of the first Bitcoin machine in Sydney by BitRocket Capital in Rosebery in March.

ABA Technology chief executive Chris Guzowski said the currency was rapidly gaining acceptance from international corporations and technology leaders including those in Australia.

The ATM would provide safe and easy access to the new digital currency, he said.

The company raised $270,000 through a second capital raising and would roll out the machines in Sydney, and Melbourne CBD.

It aimed to have 100 Bitcoin ATMs in Australia by 2015, and 500 around the world by 2016, he said.

“There are more companies accepting Bitcoin, the more people accept it, the more people use it, there are tens of thousands of users in Australia and thousands new people entering the Bitcoin economy on a daily basis,” Mr Guzowski said.


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