Calgary gets first-ever Bitcoin ATM courtesy of business duo
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The boys behind Calgary’s first brick-and-mortar Bitcoin store are now banking on bolstering their business by introducing the city’s first-ever ATM machine for the digital currency.
A machine that converts Canadian dollars to Bitcoin (and vice versa) will be launched at Waves Coffee House on 17th Avenue SW on July 11.
Once officially opened, Calgary will join Vancouver, Los Angeles and Tokyo as some of the big cities to experiment with the novel cash dispenser.
“It’s the easiest way to get Bitcoins,” says Dave Bradley of the newly located Bitcoin Brains. “You can get them in a few minutes and you get them 24 hours a day.”
Those interested must first sign up for a digital account, which is known to active users as a wallet. Although there are paper wallets, too.
Bitcoin users trumpet the so-called crypto-currency for its convenience, utility and anonymity. Right now it’s mainly used by so-called miners and traders.
Very few local businesses allow customers to pay for goods and services in Bitcoins, although a couple — including Waves coffee — are now accepting the alternative form of payment.
The Alberta head of the Canadian Federation of Independent Business previously suggested there’s value for entrepreneurs getting soaked by credit card companies, although he was leery about recommending it to mom-and-pop shops.