Australian Bitcoin ATMs is a company that does exactly what you think it does: roll-out Bitcoin ATMs around this great country of ours. Now the company has announced it will soon open 100 Bitcoin ATMs around the country so you can convert your digital currency to physical dollars on the street.
The ATMs will facilitate the conversion of Bitcoin to physical currency, and vice versa.
The head of the company tells the ABC that customers will tell the ATM how much Bitcoin they want to sell, before going out into the marketplace to conduct said trade and convert it into physical currency on the spot.
In the same way, the ATM will also allow you to deposit cash to purchase more Bitcoins.
The deregulated cryptocurrency is still fairly volatile, but its value appears to have levelled out in recent weeks. One Bitcoin will cost you around $US800-$US1100 at the time of publication. [The World Today]
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