02 Apr '13, 6pm

Bitcoin Boom? An ATM for Virtual Currency in the Works

Users of virtual money are about to get a real machine to access their digital cash. In an effort to simplify access to the virtual currency Bitcoin, the head of TDV Media is working to launch an ATM that enables users to manage their Bitcoin accounts. "We've come up with a bitcoin ATM, and the reason we've done that is because it's been a little hard to get access to BitCoins," said Jeff Berwick, TDV's CEO, on CNBC's "Squawk on the Street ." He added: "You can trade them over exchanges over the Internet, but it's not all that easy to do." A bitcoin is a decentralized open currency based on open software that uses peer to peer connections for monetary transactions. Paper currencies can be exchanged for bitcoins and can be used wherever they are accepted. Users can also exchange their bitcoins for the original currency, with an increasing number of businesses and individual...

Full article: http://www.cnbc.com/id/100609853

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