29 Oct '13, 12pm

Bitcoin ATM Brings Online Currency To Life

Bitcoin ATM Brings Online Currency To Life

Q&A: First Bitcoin ATM Launches Updated: 11:41am UK, Tuesday 29 October 2013 :: Why is an ATM required for online currency? Bitcoin ATMs do not dispense notes or coins in the way traditional cash machines do. They are more akin to a money exchange counter, allowing anyone with bitcoins to access their virtual account to withdraw cash in the local currency, or to top up their account using real cash. In theory, they allow Bitcoin accounts to be run as current accounts, with users paying in money as they would at a bank counter and withdrawing it when they need to make a purchase. :: How safe are these cash machines? Robocoin says its ATMs are "fully compliant with federal and state law". Customers must pass a three-step verification process - scanning their handprint, smiling at a face recognition camera and showing the machine their government-issued ID - before they are a...

Full article: http://news.sky.com/story/1161048/bitcoin-atm-brings-onli...

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