Canada has ordered Bitcoin ATMs and plans to roll them out in early October

[September 10 news] Bitcoiniacs, a Bitcoin exchange store, said that they have ordered five Bitcoin exchange ATMs from a company called RoboCoin in Las Vegas, and plan to launch them in some major cities in Canada in the next few months. The first one is expected to arrive in Vancouver in early October. The other four will arrive in December, but the installation location has not yet been decided. Currently, major cities such as Toronto, Montreal, Calgary, and Ottawa are under consideration.

"Basically, it's about making it easy for people to buy and sell bitcoin, and hopefully drive adoption and make it more accessible to people," said Mitchell Demeter, 27, owner of Bitcoiniacs.

Bitcoin began to appear in 2009. It is generated by a large amount of calculations when computers execute a series of instructions through P2P. This process is called Bitcoin "mining", and the total number is limited to about 21 million.

Despite skepticism about its usefulness and concerns that the unauthorized currency could become a tool for breaking the law, a U.S. judge ruled last month that bitcoin is a real currency.

Currently, Bitcoin is usually obtained through exchange, but the process is cumbersome and time-consuming. Users must go through several procedures, including connecting a bank account to an exchange shop and sending documents to confirm their identity. Robert Burko, a Toronto resident, spent more than 10 days exchanging Bitcoin in April. During this time, the exchange rate of Bitcoin dropped from 260 US dollars per dollar to 100 US dollars, which made him miss a good opportunity to make money.

RoboCoin CEO Jordan Kelly said that ATMs are expected to simplify the process of buying and selling Bitcoin, eliminating the need to wait for exchange shops to verify bank accounts or hand over cash to strangers. It also increases legitimacy and liquidity in the market, making it easier for people to obtain it.

Kelly said that since the launch of this ATM, orders have been pouring in from Australia to Kenya.

Sourceforge.net pointed out that the United States has the most Bitcoin software downloads, followed by China, Germany, Russia, and the United Kingdom, with Canada ranking sixth. (End)

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.