Despite us writing about Robocoin would be the first company to install Bitcoin ATM’s in the US, it seems that Lamassu has beaten them in the race. Yesterday it was announced that Lamassu had installed the first Bitcoin ATM in Boston at a rail hub, making it possible for travellers to not only learn more about the cryptocurrency, but also to purchase them.
The ATM was installed by Liberty Teller at Boston’s south station on Wednesday and will be available for the thousands of commuters travelling through the station every day. Another one has also been installed in Albuquerque according to sources, providing two access points to Bitcoins for cash in the US.
Kyle Powers, founder of Liberty Teller, told WCVB-TV that the reason that they decided to install the Bitcoin ATM’s is to provide access to information about the Bitcoin, its volatility and other important factors. Once a person has purchase Bitcoins through the ATM, the buyer can see a tutorial video about these factors and thus increase their knowledge and hopefully share it with friends.
Users will be able to keep their Bitcoins in a virtual Bitcoin wallet, with multiple free services that can be found online. Users can then choose to simply keep them and hope for the Bitcoin to increase in value or use in one of the many online and physical stores currently accepting Bitcoins as a payment method. With the development of services based on Bitcoins, it may become a more widely used payment method and save both buyers and merchants tons of money in transaction costs.