Canada to get world’s first Bitcoin ATM next week

(Credit: Robocoin)

Bitcoin fans, prepare your passports. If you want to be among the first to use a Bitcoin ATM, head to Canada.

What’s being billed as the world’s first Bitcoin ATM is set to enter service next week in Vancouver, according to local operator and broker Bitcoiniacs and Nevada-based manufacturer Robocoin.

The $ 18,500 ATM will debut in downtown coffee shop Waves as the first of five Bitcoin machines that will be deployed across the country.

They’ll trade the increasingly popular digital currency for Canadian dollars and vice versa, with a CAD $ 3,000 daily limit ($ 2,870) for each user.

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The ATMs will use palm scans to identify users and enforce the limit, which is also designed to prevent problems with anti-money-laundering laws.

Users can deposit Canadian cash in the machines and it’s then exchanged on Canada’s … [Read more]

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