Brisbane, Australia has finally received its first bitcoin ATM.
Operated by a company called Bit2Bit, the Genesis Coin-made kiosk has found the The Roastery Café in South Brisbane as its new home — allowing enthusiasts nearby the opportunity to not only buy bitcoin, but to sell it, too.
In conjunction with the launch of the ATM, The Roastery Café is also accepting bitcoins as a form of payment, a company announcement included.
“We’ve seen a surge of interest from the mainstream population wanting to be involved in the Bitcoin movement,” says co-founded of the Café Bruce Carrall. “The currency has grown more than one thousand per cent each year for the past four years, and people are also starting to use it as an investment.”
“The ATM is a more effective tool to buy and sell Bitcoin compared to other methods because it’s a lot faster, safer and more convenient than using some sort of exchange.”
This isn’t Australia’s first bitcoin ATM, but the coming of this particular kiosk to Brisbane highlights the growth of the bitcoin ATM industry in the land down under.
“Bitcoin isn’t controlled by any external authority, which means no brokers, payment processors, banks, financial institutions or credit card companies taking a fee. This makes Bitcoin attractive to people sending funds to friends or family overseas, and there’s also massive potential for online shopping and cheap, quick cross-border money transfers,” said Carall.
“I think we’ll continue to see a spike in the demand and value for Bitcoin as more and more ATM’s enter the market.”