Bitcoin cash machine in Canada

Vancouver based bitcoin broker – Bitcoiniacs – has ordered a Bitcoin ATM machine Bitcoin has been a difficult topic to

Vancouver based bitcoin broker – Bitcoiniacs – has ordered a Bitcoin ATM machine

Bitcoin has been a difficult topic to dodge in the last few months; an influx of interest and activity around the crypto-currency has placed it – center stage and in the spotlight. And it appears that it will be staying there for some time.

The latest in the world of Bitcoin is that it is becoming increasingly user-friendly, less time consuming and decreasingly, the singular sport of techno-geniuses, “Our goal is to make Bitcoin truly grandma-friendly,” says Jordan Kelley, Bitcoiniacs’s chief executive.

Recently, with the subpoena of several Bitcoin processing companies and other calls for regulation, questions around the safety of the currency have been brought to the surface. However, the response from those involved in Bitcoins has been, for the most part, breezy and confident: it seems that most service providers working with the currency believe that the concerns and challenges will be swiftly ironed out and that Bitcoin will prevail to become even stronger – the introduction of a Bitcoin ATM into the world is certainly a good illustration of this.

RoboCoin kiosks will enable users to insert cash and then scan a QR code on their phones to transfer the Bitcoins to their wallets (using an app). And the redemption of Bitcoins for cash will also be possible. Five machines have been ordered for Canada (Vancouver being the pilot city) and according to RoboCoin, 10-15 kiosks have been ordered by service providers other than Bitcoiniacs. 

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Bitcoin has recently been named a real currency by US federal judge but as a result of the supposed laxity of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) compared to US regulators, young Bitcoin businesses are choosing Canada. 

 

Image courtesy of Flickr

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