The very first Bitcoin ATM has been installed in Baltimore, Maryland, where customers will now be able to purchase Bitcoins through the ATM with a 1% fee and prices updated in real time. Since December, a local bar in Baltimore called “Bad Decisions” has accepted Bitcoins as payments in the bar and has hosted several Bitcoin meetups.
The bar has been promoting themselves as the only Bitcoin accepting bar in Maryland and has seen a high interest from Bitcoin adapters the past years time, which has led to several sales a month with Bitcoins.
This also made it natural for them to install a Bitcoin ATM inside the bar, so that customers can understand better what the Bitcoin is and use it to pay with. More people are now visiting the bar, simply to try and purchase Bitcoins and to get a better understanding of cryptocurrencies as a whole, as many has heard about it, but doesn't quite understand it yet.
The ATM was installed by CoinOutlet, a company from North Carolina, and they claim to have a better exchange rate than most online exchange sites and a very competitive fee of just 1% of all sales. Users can get the Bitcoins transferred directly to their wallet through entering their wallet number or by using the QR code on the screen with their mobile phone.