29 October 2013

The first Bitcoin ATM was installed in the Waves Coffee Shop, Vancouver, Canada

A photo representation of the Bitcoin event, The first Bitcoin ATM was installed in the Waves Coffee Shop, Vancouver, Canada

On October 29, 2013, the world’s first Bitcoin ATM was inaugurated at Waves Coffee House in downtown Vancouver, Canada, marking a significant milestone in the history of Bitcoin. This pioneering machine was delivered by Robocoin, an American manufacturer, and operated by Vancouver-based Bitcoiniacs, setting the stage for a new era in the accessibility of digital currencies.
 

The ATM’s launch attracted not only customers eager to exchange their Canadian dollars for bitcoins and vice versa but also a crowd of onlookers curious to witness the operation of this novel technology. The machine required users to scan their palms to exchange up to $3,000 worth of bitcoins per day, ensuring a level of security for the transactions.
 

The Bitcoin ATM represented a bridge between the traditional financial system and the emerging world of cryptocurrencies, offering a physical touchpoint for a digital asset that had, until then, been relegated to online exchanges. It allowed users to deposit cash and receive bitcoins in their digital wallets, or to withdraw cash equivalents from their Bitcoin holdings.


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