Bitcoin is arguably one of the most hot topics of conversation floating around the industry, in recent times. So much so, that it’s become difficult to decipher exactly where this exciting, new cryptocurrency is heading. This being said, however, a company titled Australian Bitcoin ATMs has recently, in a discussion with the ABC, that it plans to deploy one hundred ATMs which will “facilitate the conversion of Bitcoin to physical currency, and vice versa”.
The ATMs will, hopefully, increase the use and awareness of Bitcoin. CEO of Australian Bitcoin ATMs, Chris Guzowski explains:
“You can type in how many Bitcoins you want to sell, and then our ATM goes onto an overseas Bitcoin exchange and executes that transaction for you, and will spit out the cash for which you sold the Bitcoin for”.
Similarly, customers will be able to insert cash into one of these units, and purchase Bitcoins.
Although it’s fair to say that Bitcoin hasn’t yet settled to what one may consider a stable currency, Guzowski understands that the ability to purchase and sell volatile ‘coin is still somewhat of an acquired taste:
“I think most Bitcoin adopters… have been aware of the risks associated with purchasing the digital cryptocurrency. Everybody should be made aware of the risks involved.”
Australian Bitcoin ATMs will begin the rollout of thee new machines next month, with the first units to be deployed in Melbourne and Sydney.