There’s long been talk of the inevitable inception of Bitcoin ATMs sprinkled around, but a trio originally from British Columbia is bringing the Robocoin ATM to market and flipping the “on” switch Tuesday outside of a downtown Vancouver coffee place.
The way it works is fairly straight-forward. Users can insert up to $3,000CAD (or about $2,900USD) per day into the machine and get it converted to Bitcoin after scanning your palm (the palm scan ensures you do not exceed the daily limit of Bitcoin conversion).
Robocoin makes the equivalent trade on Canada’s VirtEx BTC exchange, and voila, Bitcoins in your wallet.
Each unit is priced at a whopping $18,500 each, and the company already has multiple orders for the machine. How will it pan out? Anyone’s guess, at this point.