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Los Angeles receives first bitcoin ATM machines courtesy of Robocoin

Robocoin-manufactured bitcoin ATM machines have landed in Los Angeles, with two machines to help exchange bitcoins and U.S. currency
By: Michael Hatamoto | Business, Financial & Legal News | Posted: Jul 8, 2014 9:20 pm

Bitcoin payment processor ExpressCoin has rolled out two new bitcoin-to-cash ATM machines in Los Angeles, manufactured by Robocoin. To verify the transaction, customers need to enter an email address and submit a palm scan - and it's possible to purchase or sell bitcoins using U.S. currency or other popular forms of currency, according to reports. The machines are located in Hollywood and Venice.

 

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This is another major step forward for Robocoin, which has seen its ATM machines rolled out in Los Angeles, Vancouver, Las Vegas, and other select metropolitan areas. There are more than 30 Robocoin ATMs spread throughout the world, and that number will continue to grow moving forward.

 

"I regard the financial system in general and the players in that as our competitor," said John Russell, Robocoin founder, in a statement. "Western Union is on our cross hairs big-time... the process of wire transfers, international wire transfers - we're going to smash them, we're going to crush them. We're going to totally disrupt that environment, and that's what I'm most excited about."

NEWS SOURCES:Usfinancepost.com, Usfinancepost.com, Trbimg.com

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