Bitcoin Shenzhen ATM
Robocoin is a digital automatic service terminal, through which consumers can exchange bitcoin with cash. The Russell brothers in Las Vegas are the inventors of this proct. They already have a company that develops software for more traditional ATMs, and the two are big supporters of bitcoin, so it's natural to build a bitcoin ATM
The world's first bitcoin ATM will be placed in a cafe in downtown Vancouver. The Canadian dollar deposited by the user on the ATM will be converted into bitcoin and transferred to the bitcoin account on the network. You can exchange Canadian dollars directly from your own bitcoin account. The whole process of exchange is anonymous, but in the process of transaction, users need to scan palmprint to confirm their identity. On this machine, each person can withdraw up to 3000 Canadian dollars (about 17000 yuan) a day. In addition to the ATM, four other bitcoin ATMs will be put into operation in Toronto, Montreal, Calgary and Ottawa in December. In January 2014, robocoin, a bitcoin ATM, entered the Hong Kong and Taiwan markets. The company plans to launch bitcoin ATMs in more parts of Europe, Canada and the United States
The operation mode of the proct is as follows:
when the user deposits the cash into the machine, it will generate a digital bitcoin wallet and put the saved cash into it. Or you can deposit cash into an existing account. The machine then prints a QR code as a receipt for the transaction. It will take about 10 minutes for the bitcoin network to complete the transaction, and users can use the newly exchanged bitcoin
if you want to change bitcoin into money, just put the QR code receipt back into the machine and you can get the money back. Bitcoin can be exchanged for cash in real time, but cash exchange for bitcoin is not so fast, with a waiting period of three to four days
Rather than running robocoins on their own, the Russell brothers wanted to sell the device to their business partners for $18500, which later rose to $20000. The advantage of this device is that bitcoin on the network may be unfamiliar to some people, but the ATM brings them to the physical world, allowing users to trade bitcoin in a way they understand. The first robocoin automatic service terminal will be officially opened in Vancouver at the end of 2013