The local customers who want to convert cash into the crypto-currency scan their Bitcoin address QR code pattern, insert notes and press send.
The planned location of the Bitrocket ATM is at Black Star Pastry & Cafes new branch in the up-and-coming gourmet hub of Roseberys Dunning Ave (Cnr Hayes Rd).
Globally, 9 in 10 citizens cannot access financial services like banks or credit cards. With the advent of Bitcoin ATMs, they can now buy farming equipment online or transfer money to a relative in another country. BitRocket is offering a donation menu via which buyers of the digital currency can browse and scan a QR code for a charity or cause of their choice to send a small portion of their bought coins.
Joe Richards, founder and CEO at BitRocket, exemplifies that, if one invested USD 10 into Bitcoin ATMs in 2011, one would now have USD 7,000. Bitcoin’s present value, per unit, is AUD 700 climbing from AUD 100 in October 2013. In December 2013 it reached AUD 1,250.
BitRocket’s installation of the Sydney-based Bitcoin ATM will allow consumers to transact Bitcoins for offerings of the Black Star Cafe, the Old Fitzroy Hotel and Richard Bransons Virgin Galactic.
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