12:50 am

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

Robocoin Kiosk Blog
Courtesy: blog.robocoinkiosk.com

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]