In a Seoul shopping mall, a brand-new bitcoin ATM inside the Coffee Sedona establishment is making a splash. Why? Because it’s the first two-way bitcoin ATM in South Korea. Quite simply, the machine allows users to insert fiat currency for bitcoin, and vice-versa.
The machine is a joint venture between the Coinplug bitcoin exchange and Nautilus Kyosung, a company that manufactures traditional fiat ATMs (in fact, the most popular ATM manufacturer in the country).
For users, this machine doesn’t collect any identifying information (compared to the Robocoin ATM offering). Each transaction must not exceed $200, and only three transactions are allowed per day (per wallet address).