Tag Archives: ATM

First Bitcoin ATM Officially Operational in Canada – RoboCoin

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Last month, we reported that Bitcoiniacs, a Canadian retail store, had ordered RoboCoin Bitcoin ATM kiosks and will be deploying them across Canada. This week, in a Bitcoin milestone, the first ever commercial Bitcoin ATM went online in Vancouver.

RoboCoin allows buying and selling Bitcoins from a freestanding kiosk that integrates software, bank grade hardware and security.

RoboCoin Bitcoin ATM Kiosk cover

“We are incredibly passionate about the product we’ve put together,” said RoboCoin on the occasion. “Robocoin will be the easiest, quickest, most convenient way to both buy and sell bitcoin ever.  Say goodbye to pesky bank wires, archaic verification processes, and weeks of waiting time to get money converted. Using only the best bank grade hardware, Robocoin is capable of instantly handling transactions in the thousands of dollars.  Not only does this provide incredible convenience for Bitcoin owners, but this also has the potential to change the entire remittance industry.”

RoboCoin Bitcoin ATM Kiosk Vancouver

The ATM is different from your typical bank machine. The machine accepts cash and delivers Bitcoin, or accepts Bitcoin and provides cash.

This is important because it is difficult for many to get liquidity on their Bitcoin. Signing up for an exchange like Mt.Gox is a lengthy process, involving scanning and submitting your government-issued ID. Other Bitcoin wallets, like Coinbase, make the process easier but there is a limit to liquidity.

Related: Read our comparison of cloud Bitcoin wallets

This is the first step in what will be a large movement by the Bitcoin ecosystem to bring the digital currency to retail.


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RoboCoin Bitcoin ATM Kiosks Coming to Canadian Retail Store Bitcoiniacs

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Bitcoiniacs Wants to Make it Easier to Buy Bitcoin

Last month we reported that RoboCoin ATM Kiosks officially went on sale for $20,000 per unit.

Now, a retail store in Canada has announced that it has ordered the kiosks and will be deploying them across Canada.

Canada Bitcoin Regulation

“Basically, it just make it easier for people to buy and sell Bitcoins and hopefully will drive the adoption of Bitcoin, and make it more accessible for people,” Mitchell Demeter, the 27-year-old owner of Bitcoiniacs, told Metro.ca in an interview.

Demeter says that he is planning to roll out the ATMs across major Canadian cities such as Vancouver, Toronto, Montreal, Calgary and Ottawa.

RoboCoin Bitcoin ATM Kiosk

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Top Bitcoin News Last Week: Tradehill, Regulation, ATM, FinCEN, More

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Bitcoin News

A roundup of the top Bitcoin news from August 26 to September 1:

Riddell Williams Bitcoin Lawyers

Tuesday, August 27

Wednesday, August 28

Thursday, August 29

Friday, August 30

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Bitcoin ATM RoboCoin Kiosk Goes on Sale for $20,000

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Buy and sell Bitcoin with RoboCoin ATM

Calling itself Bitcoin’s First Real ATM, the RoboCoin Kiosk is now accepting pre-orders.

RoboCoin allows buying and selling Bitcoins from a freestanding kiosk that integrates software, bank grade hardware and security.

RoboCoin Bitcoin ATM Kiosk cover

RoboCoin’s technology makes it a contender in the emerging market for Bitcoin machines. RoboCoin CEO Jordan Kelley was quick to criticize his competition in a blog post, “Seriously, how Bush League is an ‘ATM’ if it can’t do the equivalent of deposits and withdrawals or be left unattended?” Exchange integration with Mt. Gox or Bitstamp delivers dynamic Bitcoin inventory so that trades are placed in real time.

It’s competition includes Lamassu Bitcoin ATM, a table-top machine that turns cash into Bitcoins in seconds, but not sell Bitcoin for cash.

Below is a video showing the features of the RoboCoin ATM Kiosk.

RoboCoin was demonstated at the Bitcoin 2013 Conference in San Jose, and is now ready for production pre-order. A single kiosk costs $20,000, though there is a $18,500 pre-order promotion through September. Business owners will earn a percentage of transactions and attract new and existing Bitcoin users.

RoboCoin to date has received inquiries from over 20 regions including: Canada, Australia, Prague, Kenya, Ireland, the Philippines and Thailand.

RoboCoin Bitcoin ATM Kiosk

And, of course, RoboCoin Kiosks can be purchased with Bitcoin or USD.


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Top 10 Countdown: Most Popular Bitcoin Stories in July 2013

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Blueseed Bitcoin Funding

Here are the top 10 most popular stories On Bitcoin brought you in July 2013.

10. Bitbetex Jumps on the Bitcoin Gambling Bandwagon After SatoshiDice Exit

9. Bitcoin Gambling Company SatoshiDice Sold for $11.5 Million

8. Argentina Bitcoin Adoption Jumps in Recent Months

7. Turn Cash into Bitcoins in Seconds with the Lamassu Bitcoin ATM Machine

6. Bitcoin Prediction Market Predictious: Bet on Gender of the Royal Baby

5. Finding Business Model Opportunities in Bitcoin

4. Inside Bitcoins NYC Keynote: Is Bitcoin the New Financial Order?

3. Work in Silicon Valley? Pay with Bitcoin at Coupa Café in Palo Alto

2. Building Bitcoin into the Core Architecture of the Web

1. Cruise Ship Startup Community Blueseed Gets Bitcoin Funding


Thanks for reading in July!

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