19 Jan '14, 3pm

Bitcoin ATM Installations Surge in Canada

Bitcoin ATM Installations Surge in Canada

Three cities in Canada are set to have bitcoin ATMs installed in the coming weeks, making the country the top ATM location in the world. New ATMs will be installed in the Canadian capital city Ottawa as well as Montreal and financial hub Toronto. The ATM operators are announcing their plans to install machines across the country even as Canada’s central bank issued a statement yesterday declaring bitcoin is not recognised as legal tender there. Fadi Azouz, who operates the Montreal machine, said his ATM would be installed by 24th January at the Bitcoin Embassy in Montreal. It will take live rates from either BitStamp or the Canadian exchange Virtex and will charge a 5% for transactions. The ‘embassy’ is a non-profit organisation dedicated to promoting bitcoin. Azouz said the central bank’s announcement would have no impact on his plans: “The [statement] does not affect us ...

Full article: http://www.coindesk.com/bitcoin-atm-installations-surge-c...

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