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Bitcoin ATM seems to favor café very much. On March 15th, Hong Kong's first Bitcoin ATM was authorized to a café. On March 8th, South Korea's first Bitcoin made its debut in a Korean café. Earlier on February 28th, Canadian first Bitcoin ATM was also placed by a café. Today, China's first Bitcoin ATM launches in a café in Zhangjiang, Shanghai.
"You can only buy Bitcoin with cash on this ATM, but cannot get cash from Bitcoin, so it's inappropriate to call it an ATM. It's more like a vending machine," said Li Qiyuan, CEO of BTC China.
The white Bitcoin ATM is much smaller than a normal automated teller machine. However, it is very heavy. Li Qiyuan said they purchased the machine last year. "At first, the machine was just like a brick which can not implement any functions. Thus, we have to develop related programs for this machine. Then we connect this machine to our system." Li Qiyuan added.
How to manipulate the Bitcoin ATM? Li Qiyuan introduced, after signing up for an account with BTC China, users can upload bitcoins to their Picasso Wallet, and then use the interface to trade like a human teller machine. If the receiver is not a BTC China customer, the bitcoins can be sent instead to any mobile number worldwide, whereupon the receiver will be invited to sign up for BTC China wallet to receive and store them.
"Bitcoin has entered into a new era, where exchanges are no longer the only way to buy and sell Bitcoin. With the advent of Bitcoin ATM, people all over the world can now easily buy and sell Bitcoin." Li Qiyuan said.
