Israel's first Bitcoin ATM has been successfully installed and opened its "doors" to the general public early Sunday evening. Along with the opening of the Bitcoin ATM were Bitcoin enthusiasts, who were there to try and explain to the public why Bitcoins are a great thing and how they can use it in their everyday life.
“I am proud that the embassy has made the first bitcoin vending machine available in Israel. This is part of our mission, to make bitcoins accessible to the general public,”Ayal Segev from Bitcoin Embassy said to Jpost. The company owning the Bitcoin ATM is known as Bits of Gold, who specializes in Bitcoin services for Israeli people.
According to the Bitcoin Embassy, hundreds of companies in Israel are already accepting Bitcoins as a payment method and the method is growing rapidly. While Israel is getting used to being able to buy Bitcoins, it is interesting to see how the developers of Isracoin will tackle this new obstacle. Surely there are room for both cryptocurrencies, but can they co-operate together or will they begin to fight each other.