Ireland’s first Bitcoin ATM to be launched this week

ireland-s-first-bitcoin-atm-to-be-launched-this-week

In next few days Ireland's first ever Bitcoin ATM machine will be launched at Hippety's Cafe in the Temple Bar area of Dublin.

Basically, the machine will turn cash into virtual currency in about 12 seconds. You walk up to the machine, scan the machine with a QR code that links to your bitcoin wallet, insert your cash and finally confirm your Bitcoin purchase.

BitVendo, Ireland's first Bitcoin ATM provider, explains:

"If you would like to buy 50 euro’s worth then just insert 50 Euro and you will get that exact amount minus our small commission (3-5%). You can use note sizes between 5-100 Euro, so if you have 64 Euro in your pocket, then the most you can buy is 60 Euro.

After purchasing, the machine will play a little celebratory chime. The bitcoin network takes between 30 seconds ~ 10 minutes for the transaction to get verified by the bitcoin miners. Rumor has it the transaction will get verified 25,000 times before being sent through!"

Since the new ATM is just a stone's throw from the Central Bank of Ireland, “there’s no way the Irish banks can ignore Bitcoin now”, BitVendo, told CoinDesk.

BitVendo say that it intends to roll out ATMs across Ireland and the UK, with three more expected this year.

Bitcoin is a virtual digital currency, which is not backed by real assets and has no central authorities governing it.

 

Featured image: Bitcoin community

If you value what we do here, open your ad-free account and support our journalism.

Share:

Producing content you read on this website takes a lot of time, effort, and hard work. If you value what we do here, select the level of your support and register your account.

Your support makes this project fully self-sustainable and keeps us independent and focused on the content we love to create and share.

All our supporters can browse the website without ads, allowing much faster speeds and a clean interface. Your comments will be instantly approved and you’ll have a direct line of communication with us from within your account dashboard. You can suggest new features and apps and you’ll be able to use them before they go live.

You can choose the level of your support.

Stay kind, vigilant and ready!

$5 /month

  • Ad-free account
  • Instant comments
  • Direct communication
  • New features and apps suggestions
  • Early access to new apps and features

$50 /year

$10 /month

  • Ad-free account
  • Instant comments
  • Direct communication
  • New features and apps suggestions
  • Early access to new apps and features

$100 /year

$25 /month

  • Ad-free account
  • Instant comments
  • Direct communication
  • New features and apps suggestions
  • Early access to new apps and features

$200 /year

You can also support us by sending us a one-off payment using PayPal:

Leave a reply

Your email address will not be published.