Vancouver Mall ATM trades in Bitcoin

There’s a curious machine inside an entrance to Vancouver Mall. It will give you cash, but it won’t take a debit card. You can give it cash, but the receipts won’t look too familiar. With the push of a button it will show your balance down to eight decimal points.

It’s a bitcoin ATM, and it’s meant to bring the complex digital currency to the masses right here in Clark County.

“There’s a whole spectrum related to bitcoin, and all the people I know use it for different things,” said Donn Lasher, a Vancouver man who installed the ATM at the mall in 2015. “It’s like a digital commodity.”

Bitcoin has long seemed the domain of the tech-obsessed, or at least of those with technical prowess. But anyone with a driver’s license or state ID can buy bitcoin or exchange it for cash at the ATM, which is run by a state-sanctioned company that takes a 5 percent cut of the transaction.

“Online exchanges require Social Security numbers, copies of utility bills, tying in a bank account,” Lasher said. “That immediately pours water on people’s enthusiasm.”

So the ATM makes it easier to get bitcoin in their digital wallet, in this case the Coinme smartphone

Read more ... source: TheBitcoinNews

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