Amsterdam Gets it Own Bitcoin ATM

Jayanand Sagar | April 27, 2014 | 9:59 am

Amsterdam Gets it Own Bitcoin ATM

Jayanand Sagar | April 27, 2014 | 9:59 am

Lovely Amsterdam. Home to a lot of wonderful things, and that list now includes a bitcoin ATM.

It’s being claimed as the city’s first bitcoin ATM, be we can’t independently verify that fact, so we’ll just go ahead and say it’s one of the first.

Located at the coffee/tea shop Courtyard of Wise (just three minutes of a walk to the ‘Amsterdam Centraal’ railway station), the machine is manufactured by BTC-O-MATIC, a start-up firm we haven’t previously heard of.

BTC-O-MATIC Stock

The kiosks come in four different models, costing operators anywhere from $4,000 to $7,500 per unit. Those models: Flyex ($4,500), DualFly ($5,000), FlyMaster ($7,500), and MiniFly ($4,000).

These ‘DualFly’ one-way ATMs (which make them more of vending machines, except for the FlyMaster, which does two-way operations) have become increasingly popular in the bitcoin community, particularly with the advent of KYC/AML (know-your-customer/anti-money laundering) measures that some manufacturers have begun to adopt (see Robocoin).

These measures can make the process of acquiring/selling bitcoin cumbersome, as evidenced in this video.

The device enters service (officially) on Wednesday, April 30th during the Dutch Ethereum & Bitcoin Meetup.

Courtyard Wise ATM Loc

The machine is also arriving just in time for the Bitcoin Conference 2014, though it remains unclear as to whether or not the ATM will stay at its current location during the conference.

Here’s a video demo of the device, if you were curious:

[ot-video type=”youtube” url=”https://www.youtube.com/watch?v=yEdyrIOPMbk”]

[textmarker color=”C24000″]Source[/textmarker] Coincourant

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