Tuesday July 8, 2025
  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast
Versión Español
PanAm Post
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
PanAm Post
No Result
View All Result

Home » First Bitcoin ATM Opens in Canadian Coffee Shop

First Bitcoin ATM Opens in Canadian Coffee Shop

Tony Escobar by Tony Escobar
October 30, 2013
in Canada, Digital Currency, News, North America, Technology
FacebookTwitterTelegramWhatsapp

Waves Coffee House in Vancouver, Canada, yesterday became the first business to open a Bitcoin ATM. Bitcoin, the anonymous crypto-currency, is available to exchange for Canadian dollars via Canada’s VirtEx exchange. Although the actual transactions are anonymous, customers must confirm their identity through a palm scanner. To protect itself against Canadian money laundering laws, the system also limits transfers to CAN$1,000 a day.

Bitcoiniacs operates the new ATM, founded by Mitchell Demeter, and he explains why their ATMs aren’t as anonymous. “Every transaction you make is recorded on a public ledger. Your name isn’t attached to it, but if somebody wants to find out who is making that transaction, it can be done.”

RelatedArticles

These are the 21 individuals sanctioned by the U.S. for fraud and repression in Venezuela

These are the 21 individuals sanctioned by the U.S. for fraud and repression in Venezuela

November 27, 2024
Yamandú Orsi, from the leftist Frente Amplio, wins the Presidency of Uruguay

Yamandú Orsi, from the leftist Frente Amplio, wins the Presidency of Uruguay

November 24, 2024

Robocoin Technologies manufactures these new Bictoin ATMs. They say their kiosk operators “get to be the hero when working harmoniously with authorities,” which explains the machine’s palm scanning process as an anti-money laundering effort. Robocoin Kiosks weigh over 750 pounds and its infrastructure is protected by a VPN endpoint, ensuring that user information is never accessible from the public internet.

Four more Bitcoin ATMs are set to roll out this December in possible Canadian cities like Toronto, Montreal, Calgary, and Ottawa. Demeter is confident they will be successful among local businesses because they assist in avoiding high credit card transaction fees.

The virtual currency launched in 2008 and is the first decentralized peer-to-peer payment network that is powered by its users with no central authority. Each virtual Bitcoin is currently worth about US$205 each. Recently, Bitcoin usage has been growing in popularity, particularly among young people throughout Latin America.

http://youtu.be/p2Lf9vcEB6A

Tags: bitcoinRobocoin
Tony Escobar

Tony Escobar

Escobar is digital media director for the PanAm Post and owner of the digital media company AMTG Solutions. He’s also a decorated combat infantry veteran of the US Army. Follow him on Twitter @EscoTony.

Related Posts

CNN Fake News: The Network’s Efforts to Justify Its Actions May Be Worse than Its Actual Flawed Reporting
Ideology

CNN’s audience in 2024 was the lowest in its history

December 21, 2024
The silence of the Democrats will be the main course on Thanksgiving
Culture

The silence of the Democrats will be the main course on Thanksgiving

November 28, 2024
These are the 21 individuals sanctioned by the U.S. for fraud and repression in Venezuela
Elections

These are the 21 individuals sanctioned by the U.S. for fraud and repression in Venezuela

November 27, 2024
Yamandú Orsi, from the leftist Frente Amplio, wins the Presidency of Uruguay
Elections

Yamandú Orsi, from the leftist Frente Amplio, wins the Presidency of Uruguay

November 24, 2024
Vicky Dávila Runs for President: Could She Be the Outsider to Unite the Anti-Petro Movement?
Colombia

Vicky Dávila Runs for President: Could She Be the Outsider to Unite the Anti-Petro Movement?

November 15, 2024
The Democratic campaign organized celebrity concerts in the seven key states, all of which they ended up losing. (EFE)
Columnists

The Only Thing Kamala Harris Won in the Election: Debt and Hollywood’s Useless Support

November 12, 2024
Next Post

Fixing Puerto Rico's Debt Problem

Subscribe free and never miss another breaking story

  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast

© 2024 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact

© 2024 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Privacy and Cookie Policy.