Bitcoin ATM - wikipedia Bitcoin ATM This article has multiple issues. Please help improve it or discuss these issues on the talk page. ( Learn how and when to remove these template messages ) This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. ( July 2014 ) The examples and perspective in this article deal primarily with North America and do not represent a worldwide view of the subject. You may improve this article, discuss the issue on the talk page, or create a new article, as appropriate. ( December 2014 ) A two - way Bitcoin ATM in Toronto, Canada, that allows users to buy or sell bitcoins using cash A bitcoin ATM is an internet machine that allows a person to exchange bitcoins and cash. Some Bitcoin ATMs offer bi-directional functionality ; these machines enable both the purchase of Bitcoin as well as the redemption of Bitcoin for cash. In some cases, Bitcoin ATM providers require users to have an existing account in order to transact on the machine. Bitcoin machines are not ATMs in the traditional sense and probably use the wording ATM as a neologism. Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain. They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account and instead connect the user directly to a Bitcoin exchange. According to an advisory issued by the Consumer Financial Protection Bureau, `` they may also charge high transaction fees -- media reports describe transaction fees as high as 7 % and exchange rates $50 over rates you could get elsewhere ''. Contents 1 Money muling 2 History 2.1 Canada 2.2 United States 2.3 Kosovo 3 Compliance 4 See also 5 References 6 External links Money muling Main article : Money mule Bitcoin ATMs were reported by Brian Krebs in 2016 to be rising in popularity for money muling, a type of money laundering where money is moved out of banks to extorters. History On October 29, 2013, a Robocoin machine opened in the Waves coffee shop in downtown Vancouver, Canada. This machine is understood to be the world 's first publicly available bitcoin machine. Robocoin ceased operations in January 2016. Some Robocoin machines have since then been converted to run other software. The first machine in the United States went online on February 18, 2014, in a cigar bar in Albuquerque, New Mexico. It was removed 30 days later. In late 2013, The D Casino install the first Bitcoin ATM in a casino in Las Vegas. A New Zealand bitcoin machine operator announced in 2014 they had to shut - down operations due to interference with banks. In 2014 a former Robocoin operator in the UK hacked its bitcoin ATMs to run on software from rival manufacturer Lamassu. Canada Bitcoin machines are not yet regulated in Canada, however regulations have been officially proposed for all bitcoin exchangers. In February, 2014, the Canadian Finance Minister mentioned plans to introduce anti-money laundering and anti-terrorist financing regulations for virtual currencies such as Bitcoin. United States According to Coin ATM Radar, there are more than 800 Bitcoin ATMs in the United States as of 2017, with small shop owners earning a reported $300 a month for rental space. Transactions fees for ATM use are approximately 16 percent, while online transaction fees run about 7.5 percent. Kosovo The machine is operated by the Albvision Group, the publication reported, adding that it has been placed in the center of Pristina, the capital and largest city of Kosovo. Founded in 2000 in Kosovo with 54 employees currently, the group provides professional and strategic services, operating in sectors such as information and security systems, banking, energy, and telecommunications. According to Coinatmradar, the machine is located at `` Qyteza Pejton, Str. Lorenc Antoni 31, Prishtina, Kosovo. '' The Bitcoin ATM news came shortly after the Central Bank of Kosovo issued a statement warning citizens about the use of digital currencies in the country. Some commercial banks, such as TEB Bank and Raiffeisen Bank, have also declared that they do not deal with digital currencies, according to the news portal Fol Drejt ! Ilirjana Tahiraj of Raiffeisen Bank told the publication that the bank does not accept bitcoin transfers. In 2017, Kosovo imported equipment worth 800,000 euros which went towards the production or assembly of bitcoin mining devices, according to Kosovo Customs spokesperson Adriatik Stavileci. In a press release distributed in Kosovo and Albania on July 17, the company said that Tirana and Skopje will be the next two destinations where these kinds of ATMs will be placed. Compliance Bitcoin ATM operators need to adjust the limits on deposits and withdrawals according to AML / KYC standards applicable in the jurisdiction where their ATMs are placed. In some countries / states this requires a money transmitter license. See also Digital currency Litecoins References Jump up ^ `` Risks to consumers posed by virtual currencies '' ( PDF ). Consumer Financial Protection Bureau. August 2014. Retrieved 9 July 2016. Jump up ^ Brian Krebs ( September 29, 2016 ), `` ' Money Mule ' Gangs Turn to Bitcoin ATMs '', Krebs on Security ( blog ) Jump up ^ Wagner, Kurt. `` World 's First Bitcoin ATM Opens In Vancouver, Canada ''. Mashable. Retrieved 9 February 2014. Jump up ^ Higgins, Stan. `` Former ATM Maker Robocoin Ends Bitcoin Services ''. CoinDesk. Retrieved 15 January 2016. Jump up ^ Rizzo, Pete. `` Robocoin Policy Change Ignites Fears Over Centralisation ''. CoinDesk. Retrieved 8 November 2014. Jump up ^ Brodkin, Jon. `` Bitcoin ATM goes live in Albuquerque, more coming to Austin and Seattle ''. Ars Technica. Ars Technica. Retrieved 19 February 2014. Jump up ^ `` Bitcoin ATM yanked after brief debut ''. CNET. Jump up ^ Matt Villano. `` Why Bitcoin Is Poised To Win Big In Las Vegas Fast Company Business + Innovation ''. Fast Company. Retrieved 2016 - 11 - 22. Jump up ^ `` New Zealand Bitcoin ATM Operator Runs into Issues With Banks, Shuts Down ''. Newsbtc.com. 2014 - 07 - 28. Retrieved 2016 - 11 - 22. Jump up ^ `` Robocoin Operator Hacks ATM to Run Lamassu Software ''. Coindesk.com. 2014 - 11 - 28. Retrieved 2016 - 11 - 22. Jump up ^ `` FINTRAC Advisory regarding Money Services Businesses dealing in virtual currency ''. Fintrac-canafe.gc.ca. Retrieved 2016 - 11 - 22. Jump up ^ `` Bitcoin Survey ''. Loc.gov. Retrieved 2016 - 11 - 22. Jump up ^ Bray, Hiawatha ( 2017 - 07 - 06 ). `` Instant bitcoins -- at a price ''. The Boston Globe. Retrieved 2017 - 07 - 06. Jump up ^ https://news.bitcoin.com/kosovo-first-bitcoin-atm-central-banks-warning/ Jump up ^ https://coinatmradar.com/city/783/bitcoin-atm-pirstina/ Jump up ^ https://www.balkaninsight.com/en/article/bitcoin-atm-challenges-law-on-its-use-07-19-2017 Jump up ^ `` Bitcoin Law : What US businesses need to know ''. CoinDesk.com. 2013 - 08 - 17. Retrieved 2016 - 11 - 22. Jump up ^ `` What You Need to Know about Bitcoin ATM Regulation - Bitcoin ATM - Coinoutlet ''. Coinoutletatm.com. Retrieved 2016 - 11 - 22. External links Media related to Bitcoin ATMs at Wikimedia Commons Bitcoin ( ₿ ) History Legal status People Gavin Andresen Andreas Antonopoulos Adam Back Wences Casares Raj Chowdhury Hal Finney Satoshi Nakamoto Charlie Shrem Amir Taaki Ross Ulbricht Roger Ver Winklevoss twins Erik Voorhees Marc Andreessen Mark Karpelès Vitalik Buterin Tim Draper Patrick Byrne Groups List of bitcoin companies List of bitcoin organizations Technologies Bitcoin network Blockchain Colored coins Cryptocurrency Cryptocurrency tumbler ECDSA Initial coin offering Lightning Network P2P POW Segregated Witness SHA - 2 Software clients Bitcoin Classic Bitcoin Core Bitcoin Unlimited Bitcoin XT Exchanges ANX Bitfinex Bitstamp BTC China CEX.IO Coinbase ( GDAX ) Coinfloor Coins.ph Gatecoin Huobi Kraken LocalBitcoins OKCoin QuadrigaCX Defunct Buttercoin Mt. Gox BitInstant BTC - e Book Retrieved from `` https://en.wikipedia.org/w/index.php?title=Bitcoin_ATM&oldid=798419249 '' Categories : Bitcoin Computer - related introductions in 2013 Automated teller machines Hidden categories : Articles with a promotional tone from July 2014 All articles with a promotional tone Articles with limited geographic scope from December 2014 North America - centric Talk Contents About Wikipedia Suomi Edit links This page was last edited on 1 September 2017, at 20 : 34. Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia ® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. About Wikipedia

Question: where was the first ever bitcoin atm machine installed
Answer: in the Waves coffee shop in downtown Vancouver, Canada