Zach Harvey and Matt Whitlock started the New Hampshire-based venture, Lamassu Bitcoin Advisors, and they are hoping the new machine will help accelerate the adoption of Bitcoin.
Bitcoin is the World’s first decentralized digital currency. Using strong military grade encryption and open-source applications, the digital coins can be sent through the internet securely and without a bank or payment processor.
The Bitcoin ATM makes it fast and easy to fund a Bitcoin wallet. To get Bitcoins, a mobile app is used such as Blockchain for IPhone or BitcoinSpinner for Android devices. Simply show the ATM a QR code with the desired payment address, insert bills (from $1 – $100), and press the blue button. Within seconds you have Bitcoins. There’s a 1 percent transaction fee that applies to use the ATM.
Bitcoin has increased steadily in popularity with more organizations now accepting the digital currency such as Stateless Sweets, The Free State Project and WordPress.com to name a few. New Hampshire State representative Mark Warden accepted Bitcoin donations during his 2012 reelection campaign. As we previously reported, Bitcoin is one of the topics covered in a graduate-level computer science course titled, “Securing and Monetizing the Internet“.
Check out Dave Ridley’s interview with Matt Whitlock on the new Bitcoin ATM
If you want to learn more about Bitcoin head over to WeUseCoins.com
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