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More and more Bitcoin ATMs are popping up in various locations all over the world.
Bitcoin teller machines (BTM) network has been recently expanding with new Bitcoin ATMS appearing all around the world. Time has come for next countries and cities to introduce these machines and allow their citizens to enjoy easy access to digital currencies. From now on Buenos Aires, Bochum, San Francisco and Reggio Emilia will have the BTMS of their own.
However, it is not the end of good news for Bitcoin community. This month has also brought a technological novelty from Robocoin, BTM manufacturer. The company has decided to introduce PalmSecure, a biometric technology which will improve the security of future Bitcoin ATMS.
Argentina received more Bitcoin ATMs which opened for business in one restaurant in Buenos Aires. Bar and restaurant Antidomingo can be found in the city’s residential suburb in Pinto 4860. The installation of this one-way BTM was initiated by Daniel Alós, who got help from Sebastián Serrano from BitPagos to make it come true. The machine only accepts Argentinean pesos, has a user-friendly interface and is operating with open-source code which enables users from around the world to propose changes.
“The Bitcoin ATM is unidirectional,” said Alós to PanAm Post. “The machine sells you bitcoins for pesos… a traditional ATM [that releases pesos] would have been much more expensive, larger, and heavier. This machine is super small and compact. We brought it over from the Amsterdam Bitcoin Conference.”
The restaurant’s visitors can already have a drink with their newly bought bitcoins, but in the future, Alós plans to offer discount for Bitcoin payments as well. The enthusiast claims that by now he was notified about other places, like University of San Andrés, interested in installing Bitcoin ATMS.
According to Argentinian law, in case of small business, Bitcoin is treated like cash and does not cause any troubles, but the problem may arise when it comes to Bitcoin ATMS. Argentina has introduced an exchange limit of AR $1,000 on ATM withdrawals. Daniel Rybnik, a lawyer specialized in cryptocurrency, explains the problem:
“Given that one Bitcoin is worth AR$7,000, to buy a Bitcoin via an ATM, one would need to engage in seven transactions.“Bitcoin is not considered a currency, and in that sense you can operate without approval from the central bank. You can buy Bitcoin and with that buy [US] dollars. There is nothing illegal in that.”
“Given that one Bitcoin is worth AR$7,000, to buy a Bitcoin via an ATM, one would need to engage in seven transactions.
“Bitcoin is not considered a currency, and in that sense you can operate without approval from the central bank. You can buy Bitcoin and with that buy [US] dollars. There is nothing illegal in that.”
Last, but not least, the owner of the restaurant, Daniel Alós, remarks that he does not see the installation of BTM as competition to other ways of acquiring Bitcoin. Quite the opposite, he agrees that it only helps the network to expand and make the currency even more popular. “The more alternatives there are, the better,” he explains “because that helps to grow the network, which is most important.”
The first two-way BTM started operating on September 13 in Bochum, Germany. This event can also be found on Facebook as it is quite a big deal.
The device installed in Bochum will be Europe’s first Bitcoin/Altcoin ATM that works in a two-way manner. It will allow customers to buy in real time Bitcoin or Litecoin for cash or cash in exchange for these digital currencies. This BTM is located in Bochum’s city center at Husemannplatz 1.
The official launch of San Francisco’s first BTM has been lively celebrated on September 11. Many enthusiastic guests have turned up to welcome BitAccess’s first BTM in San Francisco located at the front of the Workshop Café. The Workshop can be found on 180 Montgomery, in a city’s financial district, and offers different kinds of technological novelties.
The newly installed BTM is operating in a two-way manner allowing its users to buy as well as sell Bitcoin for US Dollars. San Francisco’s Bitcoin ATM offers two language options (English and French) and a simple verification process based on a phone number. The lucky ones who had a chance to use this BTM praise it as easy to use and reliable.
This machine also represents a partnership of BitAccess, responsible for developing BTM’s hardware and software, with Zenbox, a US-based BTM operator. According to the partnership agreement, Zenbox is going to launch BitAccess machines at other locations in the United States.
Another BTM in Italy has been installed in Reggio Emilia. This commercial Bitcoin ATM is located in Unity, a contemporary teenage clothing store. The launch was warmly welcomed by the citizens with a special event during which future customers could get to know more about the machine.
According to the Unity’s official statement:
“It will be possible for anyone to see the ATM, installed permanently in the store, try out its features and buy Bitcoin. The staff of Unity will be able to provide more information about the machine and how to use it”.
Italy’s commercial BTM will operate in a one-way manner allowing its users to buy Bitcoin.
The device that will be installed in Bali cannot be perceived as your typical ATM. “The machine will not dispense money like regular ATMs, but instead it will dispense bitcoins,” empahsized Bitcoin Indonesia CEO Oscar Darmawan, “So, the term ‘vending machine’ is more appropriate than ‘ATM.’”
Even though the machine was installed in the company’s headquarters and is ready to allow people to purchase bitcoins, Bitcoin Indonesia is waiting for the government’s approval to launch this “vending machine.”
However, Bitcoin’s legal status in Indonesia is not clear as the central bank does not consider it as a currency so the company is experiencing some difficulties with the launch of the device. Mr. Darmawan explains their current situation:
“We want to comply with the law, but we’re not sure yet where we need to apply for the relevant license. If we are acknowledged as a financial company, we will apply for a license to BI [Bank Indonesia] or the OJK [Financial Services Authority].”
This month has also brought an amazing novelty introduced by Robocoin. So far, the company’s kiosks were using a mobile phone and PIN as their authentication mechanisms, but that is about to change.
The palm vein authentication system, called PalmSecure, was originally created by Fujitsu. The BTM manufacturer decided to use this innovation because of its simple enrolment and speed of authentication. The registration with this system is extra fast as it uses “near-infrared light to capture a user's palm vein pattern, generating a unique biometric template that is matched against the palm vein patterns of pre-registered users.”
According to the company’s CEO, Jordan Kelley:
"PalmSecure technology for authentication also projects and is consistent with the image we want to project as an innovative company providing world-class services to our account holders”.
Hopefully, this move serves as a step toward a safer way in buying and selling your coins.
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