Today, LocalBitcoins.com announced the coming of their very own bitcoin ATM solution. Aptly named the LocalBitcoins ATM, the device allows users to both buy and sell the digital currency.
Users buying bitcoin at the ATM are provided with a redeemable code to be used on LocalBitcoins.com. Selling requires the user to load bitcoin on their LocalBitcoins wallet, go to the ATM URL and a code is provided. The user types the code into the machine, and out it comes in fiat.
LocalBitcoins says the machine can be programmed to support over 100 currencies from around the world. Operators can charge a fee, and LocalBitcoins takes a 1 percent cut.
The company has a first production batch of five units made, which will be operated in Helsinki, Finland. A second, larger batch is forthcoming.
First batch models are priced at €1,990, in addition to VAT. Operators who order any of the five first batch models will receive a 70 percent discount on the second batch.
Interestingly, the LocalBitcoins team doesn’t expect their machines to be perfect. The company has stated they will offer full refunds should issues arise with first batch units.