The first Bitcoin ATM comes to Portugal this weekend. Bitcoin startup Bitcoin Já is launching the first Bitcoin ATM machine in Lisbon, Portugal. This makes Portugal the latest European country to have a Bitcoin ATM machine installed. The event will be held this Saturday, October 4th, 2014, at the lobby of the @Cinema at Saldanha Residence in Lisbon.
Lisbon and Bitcoin
Portugal's capital Lisbon is noted for its variety of architecture, trams and rich history. There are not very many cities in Western Europe that can claim to have been named by Julius Caesar himself. Lisbon, or Lisboa to locals, lays claim to that and also the status of oldest city in Western Europe. It is older than London, Paris and yes, even the eternal city Rome. It is an important centre of commerce and tourism, with over 1.7 million people visiting Lisbon in one recent year.
The development of the Bitcoin ATM is a result of a joint effort between Partteam and Bitcoin Já. Partteam is a multimedia kiosk manufacturer based in Portugal. Partteam boasts an impressive clientele that includes companies such as General Electric, car manufacturers Renault and Fiat, and the telecom giant Siemens.
Partteam handled the manufacturing of this Bitcoin ATM while Bitcoin Já’s experienced IT professionals handled the software aspects of the ATM’s development. The ATM has been designed to be scalable. It is also easily upgradable, and this becomes especially important because of the growing use of altcoins, PayPal Cash top-up and other services. Bitcoin Já’s founder Joaquim Lambiza is proud to note that everything was 100% made in Portugal.
How it Works
The Bitcoin Já’s ATM is a two-way machine that handles conversion between bitcoin and fiat currency, and between fiat and bitcoin. Bitcoin Ja has remained tight-lipped about the details of the Bitcoin ATM until the launch that will be held on Saturday, October 4th.
The event will include a special and unique screening of the long awaited and revealing movie “The Rise and Rise of Bitcoin” and will be seen, free, by a lucky audience. This screening has a clear objective of promoting Bitcoin and the local community in the country. The screening will be followed by a discussion with special guests. Bitcoin Já is dedicated to the Promotion of the Crypto-Currency concept, developing related commercial products and the development of business solutions based on the Bitcoin technology.
Bitcoin Já brings a fresh perspective to the market. It has departed from the traditional “pre-existence” marketing hype/sales and instead concentrated on developing an ATM from scratch, with the crypto-currency community and operator’s profitability in mind. A series of associated business solutions will follow including empowering local business to use Bitcoin, starting with @Cinema, the event location, from the launch day.
The ATM will reside in the lobby of the @Cinema located in the Saldanha Residence, Lisbon. The @Cinema at Saldanha Residence is on Av. Fontes Pereira de Melo 42. If you are using GPS, @Cinema’s coordinates are Latitude: 38°43'54.23"N and Longitude: 9° 8'44.52"W.
Image Credits: Murjarik Mauersegler Creative Commons / Bitcoin Ja; other images from Shutterstock.