First Bitcoin ATM in Vancouver Coffee House

Robocoin CEO Jordan Kelley shared with his attitude to new ATM launching: “It’s been a crazy day. I can’t even tell you how incredible it is. There’s a line in front of the machine right now.”

During the first day kiosk saw 81 bitcoin transactions, which is about $10000. Over one third of customers were newcomers. ATM is one of the fastest money transfers today. In an interview Kelley said “Our customers can walk up to a machine and buy and sell bitcoins for cash. You can literally walk up to the machine, scan your hand, and get started with bitcoin.” If a customer wants to exchange cash into bitcoins or withdraw bitcoins from electronic wallet he must put his palm over the sensor so the Robocoin kiosk scanner could verify customers’ bitcoin activity. Though palm scanner identifies the ATM user, it remains an anonymous method to transact.

According to Canadian federal and state laws customers have the daily transaction limit, which is $3,000. So “you can’t just put in or take out million dollars,” said Kelley. Robocoin is going to install more ATM over the world. For now the government of Canada has taken a wait-and-see approach on any sort of regulatory measures on bitcoin which made this country a perfect place for a firsts bitcoin ATM.

Kelley mentioned that Robocoin focus is working hand in hand with governments: “In Canada, bitcoin is more of a commodity. The government’s thinking is: Let’s get a good understanding of what’s going on before making any decisions.”

Image source heavy.com