02 May '13, 10pm

Tiny ATM Takes Your Money and Gives You Bitcoin

Tiny ATM Takes Your Money and Gives You Bitcoin

Trying to figure out an easy way to convert your oldschool printed money to Bitcoin ? Try the Bitcoin ATM, a tiny computer that takes your dollars, euro or other currencies and instantly converts them into Bitcoin. The Bitcoin ATM first prompts users to use the machine to scan a QR code on their cellphone, teaching the ATM where to send the Bitcoin. Users then insert paper money, which is instantly turned into Bitcoin and delivered to users' accounts. All told, the process takes fifteen seconds or less. Lamassu, the startup that created the the Bitcoin ATM, claims it's the world's first such machine. They initially demonstrated the gizmo earlier this year, and now Lamassu expects to take their first pre-orders in early June. The Bitcoin ATM, a production mockup of which appears below, will cost approximately $5,000 with cheaper deals for wholesalers. Instead of taking a sl...

Full article: http://mashable.com/2013/05/02/bitcoin-atm/

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