Portugal Slated to Get First Bitcoin ATM in Lisbon

Portugal is slated to receive its first bitcoin ATM, if plans from the Bitcoin Já firm pan out accordingly.

The ATM, which is unlike any bitcoin ATM we’ve seen previously, is the result of what’s been described by Bitcoin Já to be a rigorous manufacturing process. With experienced IT professionals at the helm of the project, end users can expect to interact with a feature-rich and scaleable system.

The ATM (pictured above) is by and large a two-way system, meaning that consumers will not only be able to purchase bitcoin, but they’ll be able to sell it in exchange for cash, too. Moreover, Bitcoin Já says that future software updates will bring support for altcoins and service payments, adding layers of convenience to the machine.

Design-wise, the machine developed by Bitcoin Já, with the ATM shell being a vault built by a reputable ATM kiosk manufacturer in Portugal.

Installed in the capital city of Lisbon, consumers will be able to toy around with the device beginning on October 4th at 5 p.m. local time at the @Cinema theatre.

Joaquim Lambiza, Bitcoin Já’s founder, says his company is fully dedicated to the cryptocurrency concept through the development of commercial products and solutions.

“When I wanted to launch an ATM in Portugal back in January, I was not satisfied with either the business approach or the ROI that existing solutions offered so I decided to create a new ATM starting from a pure business perspective,” he tells me. “It helps to understand that I was a Partner at IBM and before that a Partner at PricePricewaterhouseCoopers, responsible for several global business transformation and IT projects. I left IBM to dedicate my self to my 2 passions, Aviation and finding the disruptive technology that will change our lifes. I found that in the Blockchain technology.”

Launch-day activities

For the folks attending the ATM’s launch event later this week, you’re in for a treat. Mr. Lambiza notes that the audience in attendance will be screening The Rise and Rise of Bitcoin, a film that has been highly-anticipated in the bitcoin community — featuring interviews with many notable entities.

After the screening takes place, there will be a discussion with special guests who, at this time, have not been named.

Operators of the devices will be able to set their own fees. The device is Lisbon will charge a 3 percent fee on transactions.

You can follow developments surrounding the launch of Bitcoin Já’s ATM over at their Facebook page.