If you follow the news from our site and other Bitcoin related sites, you will have noticed that we quite often do news articles about Bitcoin ATM’s being installed around the world. While it is technically true, the issue with almost all of them is that they only allow for people to buy Bitcoins with their fiat money, not sell their Bitcoins and get fiat money back.
But now there has been a change to that, as there has been installed a Robocoin Bitcoin ATM in Beijing, China, where users can buy Bitcoins with Yuan, but also sell Bitcoins and get Yuan. The ATM comes with all the necessary security features it would need, such as daily limits, spot money laundering and of course avoiding theft.
The ATM has been installed in the artistic neighbourhood of Beijing and will fit in perfectly with the free spirited people living in the area. Bitcoin has been a very popular alternative currency in China for a long time, but with strict regulations from the Chinese banks, it has been made hard to trade the currency for the Chinese.
Hopefully it will now become a lot easier for the Chinese to buy and sell Bitcoins, which could boost the international sales through Bitcoins and thus increase its value over time. There will be a need for more ATM’s similar to that one though, otherwise we will not get very far.