Bitcoin is booming in Australia. Companies are sparking interest of major investment firms, startups appear everywhere and, in just a few days, Sydney will see the arrival of two Bitcoin ATMs.
The first ATM will be installed in Pit Street Mall. The place is known for its selection of over 500 specialty stores and shoppers will now also be able to obtain digital currencies while shopping. Pit Street Mall’s ATM will be installed by Australian Bitcoin ATMs. The company has big plans, according to an announcement they made in February. They aim to roll out 100 ATMs all over Australia in the coming months.
Krypto Currency Solutions will be responsible for placing the second Sydney ATM. This one is shrouded in mystery, since the location has not yet been revealed by the company. The kiosks will be provided by United States based company Robocoin. Kiosks can be purchased with Bitcoins or dollars. “I want my grandma owning Bitcoin. I want people in Australia remitting money to their family in the Philippines by walking up to a RoboCoin (ATM) and sending Bitcoin.” Says Jordan Kelley, CEO of Robocoin and obvious Bitcoin fanatic.
According to Bitcoin Foundation‘s Jon Matonis, Australia is ripe for an explosion in Bitcoin use. “Since major banking players in Australia already share a payment network, it would be easier for a digital currency system to hook up with the existing system much like what the Netherlands is doing.”, He said in an interview.
Bitcoin and other cryptocurrencies are trending topics in Australia. The country is known to have an open mind towards new technologies. The love for Bitcoin has been shown by some noteworthy accomplishments. Digital BTC, a Perth-based bitcoin mining and trading startup owned by multimillionaire Zhenya Tsvetnenko recently went public with a reverse takeover by Macro Energy Limited, an oil and gas company in Australia. Sydney’s Jackson Palmer is known as one of the founders of Dogecoin, another wildly popular virtual currency that gathers media attention with its philanthropic missions. Zakaria Bouguettaya and Andrew Clapham, integrated bitcoin as a payment method for public transit in their award winning MyBus 2.0 app, allowing 50,000 bus commuters to pay in bitcoins.
These are just a few of Australia’s Bitcoin stories, and the list grows longer by the day. Just this week, Australian company Diamond Circle claims it has produced a cashless Bitcoin ATM. The device will allow users to buy Bitcoins using a credit card and sell them via direct deposit to their bank account.
A lot of good things are coming from down under right now, and it doesn’t seem like this will change anytime in the near future. The arrival of ATMs is a next step in bringing cryptocurrencies closer to the people. Obtaining Bitcoins often is one step too far for folks who aren’t into computers and new technologies. The media reporting on Bitcoin sparks people’s interests and ATMs are the perfect solution to convert that interest in effectively going out and buying Bitcoins. Australia is at the forefront of the Bitcoin revolution.
Last modified: June 14, 2020 9:25 AM UTC