100 Bitcoin ATM’s to open down under
Victoria Hewitt-Marsh, News Editor
4 Feb 2014, 2:55 p.m.
According to Australian state broadcaster ABC, 100 bitcoin ATM’s are ready to be launched onto the streets of Australia. The company behind the launch Australian Bitcoin ATM’s will be distributing the machines nationwide. CEO Chris Guzowski explained how the ATM’s would work.
“You can type in how many bitcoins you want to sell, then our ATM goes onto an overseas bitcoin exchange and executes that transaction for you and will spit out the cash for which you sold the bitcoin for. And the opposite also applies, so you can put the cash in and purchase bitcoin.”