Bitcoin ATM’s Around the Globe!
By: Rhea Craib
Tags: Token Sale, Cryptocurrency, Bitcoin, Blockchain

Following last weeks blog post on Why it’s not difficult to spend cryptocurrency , this week we thought we would take a look at Bitcoin ATM’s!

There are currently 2662 Bitcoin ATM’s in 67 countries around the world, allowing Bitcoin owners to exchange their digital currency into local government currency directly from the machine. These Bitcoin ATM’s also allow investors to buy bitcoin directly from the machine via a simple process.

Although it could be argued that these machines technically replace the need to buy cryptocurrency from a platform on your mobile or laptop, they also help to resolve the international issue of banking barriers demonstrating the advantage of digital payment systems.

How does a Bitcoin ATM work?

First, you will need to confirm your identification, this is usually done by confirming your mobile phone number, a slightly less complicated KYC process than most crypto platforms.

Once the user has been identified successfully, the next step is to enter your Bitcoin wallet address, either by typing it in on the screen or by scanning the wallet QR code, which can be found in your smartphone wallet app. To do this all you need to do is Simply place the code on the scanner and allow the machine to proceed!

Now, it’s time to insert your cash and confirm your purchase if you are buying, or if you are selling Bitcoin, the process is similar only this time the machine will provide you with a QR code for where to send your Bitcoin. Once the transaction has been confirmed the machine will then eject fiat for the agreed amount and you can spend it on whatever you like!

Although Bitcoin ATM’s are convenient, there is one important point to note, they are more expensive to use than web based cryptocurrency exchanges. The Bitcoin ATM charges around 5% of each transaction when using a Bitcoin ATM to buy and sell cryptocurrency.

The first Bitcoin Machines

Being an innovative industry, in the beginning, you weren’t going to find a Bitcoin ATM machine just anywhere! In 2013 the very first Bitcoin ATM was placed in a funky coffee shop in Vancouver called Waves Coffee House. The first machines to enter the US took up residence at the trendy business networking venue, Imbibe cigar bar in New Mexico, and the chic Casino hotel, D Casino in Las Vegas.

There are now a large number of bitcoin ATM’s around the world including in the UK, USA, Australia, Israel, Barbados, Mexico and Japan, which can be found in shopping malls, internet cafes, liquor stores and arcades. Below we have put together a list of some of the most interesting places where you can find a Bitcoin ATM!

London — Mr Snappy’s custom cap store in Camden is the only store in Camden to offer a Bitcoin ATM, but that’s not all they offer, also allow payment in Bitcoin for personalisation of your cap or beanie hat!

New York — While in New York, why not combine shopping for your groceries with investing in Bitcoin at the New York VIP Gourmet Deli on 96–21 57th Ave, Corona. Cheese, ham, wine and Bitcoin!

Sydney — Pan Shopping Centre is located in one of Australia’s most distinctive shopping addresses in Sydney, offering food, fashion, health, wellness and a Bitcoin ATM, Pan Shopping centre in Sydney is one of the trendiest places to invest in Bitcoin ;-)

Vaduz — Diamonds and Bitcoin go hand in hand, if you are rich in crypto then you want to show off those diamonds! You can now purchase your cryptocurrency via a Bitcoin Kiosk at Timeless Watches & Jewellery in Vaduz, or you may want to sell some to treat yourself to that new watch!

Zurich — What makes a great wine bar? The wine list, the glass, the service, the food?or the opportunity to buy cryptocurrency while you relax with a chilled glass of white or a zesty red in hand! Well, you can do just that at D-Vino Wine Bar in Zurich!

Zug — Not only does the Crypto Valley Labs provide a stylish co-working space for blockchain and cryptocurrency companies from around the world, but it also offers a Bitcoin ATM, although we suspect this might well be one of the busier ones!

Madrid — Marco Aldany was the first hairdresser chain in Spain, now with over 400 salons worldwide, it has become a leader in hairdressing! At the Madrid salon on Calle Diego de Leon, you can now relax, unwind then invest in Cryptocurrency!

Hong Kong — Where else would you look for a Bitcoin ATM but a trading floor? Genesis Block is the only trading floor in Hong Kong, and is home to not one but four ATM’s, which can be found outside the building and inside at the reception area.

These are just a few locations around that world that offer a cryptocurrency ATM, there are many more, take a look at Coin ATM Radar to find a ATM near you.

If you have ever use one then we want to hear about it! Let us know about the most interesting place that you have ever seen or used a Bitcoin ATM’s along with your experience when using one of these machines.