A newly launched company is planning to roll out 100 ATMs in the country for the virtual currency Bitcoin.
The digital and online currency, Bitcoin is not regulated or controlled by any central bank or authorities or middlemen. It is just a decentralised peer-to-peer payment network used only by its users.
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The Bitcoin ATMs will allow users to convert digital currency to physical dollars on the street.
According to the company head, customers will tell the ATM how much Bitcoin they want to sell, before going out into the marketplace to conduct, trade and convert it into physical currency on the spot.
Additionally, the ATM will allow you to deposit cash to purchase more Bitcoins, where each Bitcoin will cost around $800-$1,100.
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By GlobalData
