Robocoin is headed to Hong Kong and Taiwan. Although the cryptos have enjoyed stellar investment growth, the frontier of bridging the real world economy with the virtual economy has been cumbersome. Many online brokers and exchanges are leaning on the same banking sector that they are slowly putting out of business, so the backlash has been intense. This has created a gap between the two worlds that Robocoin promises to close.
Robocoin is a start-up headquartered in Las Vegas. The mission is to create a fast, safe and reliable transaction mechanism to transfer wealth between fiat and virtual. The ATM itself offers a sleek interface along with security features not found on any other interface.
From the Robocoin Blog:
“Vancouver, B.C. Robocoin, the world’s first Bitcoin ATM, continues to ride a caffeine-and-media induced buzz. On just its 29th day of operation, the first Robocoin has exceeded $1,000,000 CAD in volume from 1,576 transactions. Over one half of the buy-transactions generated new wallets, suggesting that Robocoin continues to attract first time bitcoin users.
In the days since Robocoin’s launch announcement the price of Bitcoin has jumped from $177 USD to $881 USD (on the Bitstamp exchange according to Bitcoincharts.com.) While China’s bitcoin enthusiasm and a remarkably positive US Senate hearing helped lead bitcoin’s recent price surge, Robocoin contributed by injecting unprecedented present and perceived bitcoin liquidity along with favorable press, mainstream acceptance and technological leadership with Anti-Money Laundering and Consumer Protection compliance.
Those familiar with Bitcoin have long lamented the historically arduous exchange process and have been delighted by Robocoin’s ease-of-exchange. Some customers used their newly purchased Bitcoins to buy coffee at the Bitcoin-accepting Waves location, while others impressed their parents by exchanging Bitcoins for Canadian dollars.”
Considering the windfall in Vancouver, it will be really interesting to see what happens in Hong Kong and Taiwan. The Bitcoin Center in New York City should consider investing in one of these.
Last modified: January 3, 2014 06:41 UTC