Bitcoin, a digital “cryptocurrency,” is now being dispensed at a local grocery on 17th and Mission streets that installed a Bitcoin ATM – the third of its kind in the Mission District, and the first to appear at a market.
“At first I thought, what the hell is this?” said the nephew of the market’s owner, who gave his name as Raj. “I thought it was just going to be sitting there, but I’ve actually seen a couple of transactions happen since we first got it in a few weeks ago.”
Two Bitcoin ATMs are installed and open to the public at 20Mission Hive, the artist and merchant collective on 20th and Mission streets that was bought by bitcoin investor Jared Kenna last month.
Harry Patel, the owner of Mission Groceries, said he was approached by a representative of Coinsource, a company that is working to establish a national network of bitcoin ATMs and owns the Mission machine, about hosting the ATM at his store. “It’s good for me, because it adds foot traffic,” said Patel, who said he’s seen “about 15 to 20” people use the ATM since it was installed earlier this month. The company makes private compensation arrangements for merchants hosting its machines.