US Gets First Bitcoin ATM

Machine in Austin will exchange the currency for cash

By Evann Gastaldo,  Newser Staff

Posted Feb 20, 2014 3:45 PM CST

(Newser) – In Austin today, organizers were set to launch the country's first Bitcoin ATM. Similar machines in Boston and Albuquerque allow cash to be exchanged for Bitcoins—but this one also allows the digital currency to be exchanged for cash (although withdrawing cash can take as long as 10 minutes, because the value of the Bitcoins will require market confirmation, KXAN reports). The first-ever Bitcoin ATM was introduced in Vancouver last year; today's is being unveiled at a bar in downtown Austin that's popular with hipsters, just in time for SXSW, which starts March 7. The machine scans users' palms, faces, and government-issued IDs in order to confirm their identities, USA Today reports.

This April 3, 2013 file photo shows bitcoin tokens in Sandy, Utah.   (AP Photo/Rick Bowmer, File)
« Prev« Prev | Next »Next » Slideshow
A report on the Bitcoin ATM.   (USA Today)

« Prev« Prev | Next »Next »
My TakeCLICK BELOW TO VOTE
7%
5%
2%
26%
9%
51%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   MSN Living   |   PopSugar Tech   |   RealClear   |   24/7 Wall St.   |   Biography   |   Barstool Sports   |   OK!