ATM accepting Bitcoin, Dogecoin and Litecoin opens in ACT

ATM accepting Bitcoin, Dogecoin and Litecoin opens in ACT

By Carl Smith

The ATM is the first of its kind in Australia to trade all three digital currencies, but others have appeared in capital cities specifically for bitcoin users.

Mr Hume said there were at least nine businesses in Canberra accepting bitcoin, including the local bus system ACTION.

“You can seamlessly immediately send bitcoin like sending an email and you’re not charged any processing fees, it’s reconciled immediately,” Mr Guzowksi said.

Chrissie Wittich runs a cafe in the centre of Canberra that has been accepting bitcoin for close to a year.

I have a tablet that’s got the system on it, I just put in the Australian dollar amount and the system converts it to bitcoin [and] a QR code comes up, a customer puts their e-wallet up,” she said.

Fellow bitcoin user Peter Clarke said alternative currencies are slowly coming into their own.

A new ATM has opened in Canberra that accepts and exchanges the three major cryptocurrencies: Bitcoin, Dogecoin and Litecoin.

“I pay fees on the credit card transactions and the debit card, but I don’t pay any fees on the bitcoin transactions,” she said.

“The fees in terms of using bitcoin are quite low, but the downside with bitcoin at the moment is that the price is very volatile,” he said.

Despite this, Mr Guzowksi estimates there were about 50,000 people using bitcoin in Australia and that that number would grow.

“It’s quite similar to using a credit card, it’s not quite as quick as cash in that there’s a small process involved”.

The Australian Tax Office yesterday released guidance notes for bitcoin, and said it would be taxed as a tangible asset but not as a currency.

It’s quite similar to using a credit card, it’s not quite as quick as cash in that there’s a small process involved.

Read more here: ABC

    

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1 Response

  1. August 26, 2014

    […] many users were drawn to cryptocurrencies since they do not catch unchanging bank fees. There are about 50,000 people regulating Bitcoin in Australia and that that series would grow, formed on Guzowski’s […]

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