Australia’s first Bitcoin ATM opens in Sydney

ABA Technology has opened a Bitcoin ATM machine in the Westfield Sydney Central Plaza on Pitt Street mall — Australia’s first such machine for the occasionally controversial digital currency.

Consumers will be able to buy and sell Bitcoins for cash. First-time users are required to provide identification and undertake a verification process before they can trade Bitcoins and, once they are verified, they will need to provide their phone number, PIN and a palm-print.

Given this is Bitcoin we are talking about, the company was keen to stress that the ATM is compliant with international regulations concerning unlawful transactions, and that it has full encryption security in place to protect consumers. “Our goal is to provide consumers with the advantages of the Bitcoin digital currency world, and enable the mass market to buy and sell Bitcoin in a safe and secure environment,” said ABA Technology Chief Executive Chris Guzowski. “The market for Bitcoins, and the concept behind this digital currency, is rapidly gaining acceptance from international corporations and technology leaders, and we hope that Australia can be at the forefront of this new way of instantly trading value at no cost.

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(Chris Guzowski, ABA Technology)

The company plans further Bitcoin ATM roll outs — in Melbourne and in other Sydney locations. “We have completed a further capital raising from new and existing investors that will help accelerate the expansion plans,” Guzowski said. “We believe Australian businesses will quickly recognise the benefits of transacting via the Bitcoin digital currency.

ABA Technology formed from the merger of Australian Bitcoins ATMs and Kryptocurrency Solutions and it has a contract to import and operate ATM devices from US supplier RoboCoin, amongst other leading manufacturers.

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