World’s First Bitcoin ATM Goes Live

October 31, 2013

5:17 pm

On October 30, Robocoin announced that their first ever Bitcoin ATM went live in Vancouver and hosted 81 transactions during its debut. Beyond Robocoin, this was the world’s first Bitcoin ATM to ever go live.

The Waves Coffee House allowed customers to exchange cash for digital currency, or vice versa, for the first time ever. The 81 transactions conducted totaled over $10,000 and over one-third of the customers were Bitcion newcomers.

Some of these customers used their newly purchased Bitcoins to buy coffee at the Waves Coffee House, which not surprisingly accepts Bitcoin as payment. The early data here supports Robocoin’s intent to bolster Bitcoin adoption and liquidity.

“Those familiar with Bitcoin have long lamented the historically arduous exchange process and were delighted by Robocoin’s ease-of-exchange,” reads Robocoin’s press release.

This first ATM is owned and operated by Bitcoiniacs who have purchased five additional Robocoin ATMs for distribution throughout Canada. And the Bitcoin market reacted well to news of the launch and liquidity injection.

Between Friday’s announcement and today, the price of Bitcoin moved from a five-day low of $177 per Bitcoin to a five-day high of $206 per Bitcoin, according to Bitcoin charts. Robocoin believes that by eliminating barriers to Bitcoin adoption the value of Bitcoin will exponentially increase.

Over the next six months, keep your eyes open for news of Robocoin: they intend to ship hundreds of American made ATMs worldwide starting at $20,000, or $18,500 at promotional pricing.

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Will is a Senior Writer with Tech.Co, based out of America’s Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He’s the resident Android junkie and will be happy to tell you why you should switch to the OS. When he’s off the clock, Will focuses his literary talent on the art of creative writing…or you might find him surfing in Ocean Beach.

Follow Will on Twitter @WJS1988

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