Bitcoin Continues To Take Over: First U.S. ATMs Open In Seattle, Austin This Month

The wait is over. You can finally swap bitcoin for cash at the ATM. Okay, you can only do it at two ATMs in the United State, but it’s still a big step for the digital currency.

Robocoin announced Tuesday that it will install the first bitcoin ATMs in Seattle and Austin later this month, Reuters reports.

The kiosks will allow consumers to swap bitcoin for cash, or deposit cash to buy more bitcoin by transferring funds to or from a virtual wallet on their smartphones; unless you’re an iOS user. The ATM requires users to scan government-issued identification to help prevent fraud.

The Las Vegas-based company installed a bitcoin ATM in Vancouver last year, and plans to open a second in Calgary, Alberta this month. ATMs in Europe and Asia are also planned.

The use of the digital currency has steadily increased across the United States in recent months.

Overstock.com said did it $126,000 in sales on the first day it accepted bitcoin earlier this year.

In January, the Sacramento Kings franchise announced it would accept bitcoin as payment for tickets, team merchandise and concessions by March 1.

Back in December, someone purchased a Tesla Model S with 91.4 bitcoins at a Lamborghini dealership in Newport Beach, Calif.

The value of the computer-traded currency fluctuates widely. Currently, one bitcoin is valued at $636, while in December the value was closer to $1,000.

First U.S. bitcoin ATMs to open soon in Seattle, Austin [Reuters]

by Ashlee Kieler via Consumerist