Singapores Citylink Mall equipped with Bitcoin ATM

Tuesday 4 March 2014 07:52 CET | News

Singapore-based company Bitcoin Exchange has launched a public Bitcoin ATM at Citylink Mall, according to online media outlet

The ATM scans a Bitcoin QR code and sends the digital currency to the user’s Bitcoin wallet, which could be a mobile wallet or a printed paper wallet.

The company plans to install more ATMs by the end of 2014, at public venues with high traffic flow. Bitcoin Exchange is also exploring opportunities to bring the machines to neighboring countries in Southeast Asia.

Bitcoin is a form of digital currency that only exists online and is not controlled by any central financial authority, putting the control of the currency in the hands of the user. It allows people to transfer value to anyone, anywhere on the internet, without the traditional fees, commissions or currency exchange rates.

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Keywords: Singapore, Bitcoin, ATM, digital currency, online, payments
Categories: Payments & Commerce
Countries: World
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