Bitcoin vending machine manufacturer Lamassu announced today the launch of the first known Bitcoin sales kiosk operating in the United States. The Bitcoin Machine, which allows users to quickly buy Bitcoin with US dollars or other currencies, is permanently located at the Imbibe Nob Hill cigar bar in Albuquerque, New Mexico, near the University of New Mexico.
Unlike other Bitcoin ATM models, the Bitcoin Machine only allows transactions in one direction: Scan your Bitcoin address QR code into the machine, insert money, and the device transfers the proper amount of Bitcoin into your digital wallet.
Bitcoin ATMs made by Robocoin, which are reportedly coming to the US later this month, allow users to both deposit funds into their Bitcoin wallets and make cash withdrawals. Because of the deposit-only status of the Bitcoin Machine, Lamassu refers to the device as a “Bitcoin vending machine” or “sales kiosk.”
The Imbibe Bitcoin Machine is operated by a company called Enchanted Bitcoin, which says it recently received accreditation from the US Department of Treasury, Financial Crimes Enforcement Network (FinCEN), which requires that every Bitcoin exchange register as a Money Services Business.
“This is very special for us. Enchanted Bitcoins are paving the way for mainstream Bitcoin accessibility in the Unites States,” Zach Harvey, CEO of Lamassu, said in a statement. “They have put in a lot of time and effort on the compliance side, and we’re very excited to see them open for business.”
Robocoin, which is based in Las Vegas, says that it plans to install its Bitcoin ATMs in Seattle, Washington, and Austin, Texas, soon.
Watch the Bitcoin Machine in action below:
(Images via @99Piloto)
- Bitcoin has a massive carbon footprint. This clever new cryptocurrency doesn’t
- Are Bitcoins the new Beanie Babies, or is there hope in 2019?