News From The Crypto Currencies Scene

First Bitcoin ATM Opened in Manhattan

First Bitcoin ATM Opened in Manhattan

The talk of the town in New York for the past several months has been on how to regulate cryptocurrencies and to create a handbook where the outlines for companies and private people would be written, so that there wouldn't be any sort of issues from any sides.

So despite this regulatory bodywork still isn't finished or released, a Bitcoin ATM was opened in Manhattan to the public. The Lamassu Bitcoin ATM was opened in "Flat 128" in West Village, which is a luxury store selling jewellery and similar products at a high price.

The Lamassu Bitcoin ATM is a so-called "one-way" machine, where customers are only able to insert cash and receive Bitcoins and not withdraw Bitcoins to cash. There are software releases coming for the machine which would make it possible to also withdraw cash, but for now the customers will only be able to buy Bitcoins.

The operator of the Bitcoin ATM has chosen to go with quite a high transaction costs of almost 10%, much higher than what anyone will find online or simply by going to another Bitcoin ATM. But having the first Bitcoin ATM in Manhattan and having it in an exclusive store in an exclusive area makes you able to charge whatever you want apparently.

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