Robocoin Bitcoin ATM in Vancouver Does $1 Million in 1 Month

Super User
By Super User Nov 27, 2013 9:34AM BST


Robocoin Bitcoin ATM in Vancouver Does $1 Million in 1 Month

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The last update brought to you by newsBTC on the topic of the Robocoin ATM (the first Bitcoin ATM out in the wild) was that the machine had done $100,000 in transactions in the matter of 8 days. The case now, as one would expect, is different.

Reports indicate the Robocoin ATM in downtown Vancouver (at the Waves Coffee House) has processed a whopping $1 million CAD in transactions in 29 days. That amounts to about 1500 buy/sell transactions, in total.

The ATM has received a fair bit of attention, particularly by the media for making it incredibly simple to buy or sell Bitcoin without having to give up personal information to a Bitcoin exchange.

Robocoin — a Nevada-based company — has a partnership with the Canadian VirtEx Bitcoin exchange to convert the digital currency to fiat, and vice-versa.

Robocoin says they hope to bring the Bitcoin ATM to major cities in the United States, including San Francisco and Boston.

[via CoinDesk]

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Nuno Menezes is a Bitcoin Entrepreneur and a crypto currency’s enthusiast strongly supporting the Bitcoin Portuguese Community. He is an Anthropologist and a Writer and his current field of work is virtual currencies.Complementing his Social Sciences Master degree with a Professional background in telecommunications along some experience in Computer Science, he intends to bring knowledge and understanding about the impact of crypto currencies in society.


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