The first Bitcoin ATM in the Middle East is being showcased and put into operation today, as it has been installed in the Israeli capital of Tel Aviv. The machine which is made from American-based Robocoin, makes it possible for users to both buy and sell the cryptocurrency after filling in some personal information, providing easy access for the citizens to Bitcoins.
Robocoin is the go-to Bitcoin ATM for companies looking to have the most secure transactions of all, as the machines recognizes money laundering as well as theft and can recognize users by looks and voice.
“The launch of the first Bitcoin ATM in the Middle East will allow any person with no previous knowledge of bitcoin and how it works to easily buy and sell bitcoin 24/7 bypassing the bureaucracy of the banks," said Bitbox CEO, Nimrod Gruber to Haaretz. Bitbox is the company introducing Bitcoin ATM's in Israel.
Before the installation of the Bitcoin ATM, users would have to either do private transactions or use exchange sites online, which lacks credibility Bitbox says. Instead people were looking for an easy and credible way to buy and sell Bitcoins and that's why they chose to install the Bitcoin ATM in Tel Aviv.
The Robocoin Bitcoin ATM has been installed at the Town-House TLV Hotel, 32 Yavne Street at the corner of Rothschild Blvd and will be shown to the public tonight.