The Worlds First Bitcoin is Ready for Pre-Order
Bitcoins are still confusing to governments and regulators, if they acknowledge their existence at all, but the ecosystem is definitely expanding. More and more companies accept Bitcoin payments, some even pay their employees in the cryptocurrency.
Now, you can even exchange cash for Bitcoins at an ATM. Granted, not just any ATM, just the ones built by Lamassu Bitcoin Ventures, a startup that aims to make it easier for people to convert cash into the virtual currency.
The Bitcoin ATM is available for pre-order and, already, the entire first batch of 15 units has been funded.
The Bitcoin ATM is a simple device, it only works with cash, avoiding the huge hassle that setting up credit card support and dealing with the banks and regulators mean.
However, as it stands, it accepts currency from 200 countries and works with any sums. In return, it sends the appropriate number of Bitcoins to the wallets of those using them.
The owners of the machines are responsible for feeding them with Bitcoins, i.e. they hold the private key to the wallet, Lamassu Bitcoin Ventures only sells the ATMs.
What’s more, laws and regulations may restrict the use of the ATM, so the company encourages buyers to consult with a lawyer first.