With countries across the globe making strides to herald the Bitcoin revolution, how can Australia be left behind? The Aussie authorities have thus decided to bring in this cryptocurrency storm a step closer to general public radius by launching Bitcoin ATM as a part of the joint venture in between a Blockchain service provider DigitalX and an ATM operator StarGroup. This breakthrough venture will bring upon a swanky new makeover to 2900 existing Bitcoin ATM’s which will now be upgraded to engage in Bitcoin transactions. Such actions will make it easier for Bitcoin aficionados to buy and sell this cryptocurrency form with much ease.
These two-way Bitcoin ATM’s will allow users to acquire Bitcoin as well as convert their Bitcoin holding to corresponding cash value in AUD instantly. Bitcoin enthusiasts presently have to wait for a considerably long time to encash their Bitcoin holdings. Thus this new Bitcoin ATM project will surely deliver smiles along with the increased Bitcoin functionality amongst its users. The increase in Bitcoin requirement globally is making the large-scale roll-out of Bitcoin ATM’s all the more viable with each passing day.
(Also Read: First Bitcoin ATM in Malta )
DigitalX will be looking after the API development for transaction facilitation and StarGroup’s software development team will try and ensure smooth transaction processing. The first Bitcoin ATM of Australia which is operated by ABA Technologies came live with its vast array of services in Sydney in 2014. At present approximately 16 Bitcoin ATM’s are fully operational in and around Sydney and Melbourne area.
Bitcoin price have experience a steady hike since its 1st August hard fork. It even crossed the US$5000 mark this weekend although it could retain its top slot of US$5013.91 for just ten minutes before gliding down to US$4867.18. The recent fork paved the path for lower processing fees, larger transaction records and faster transaction speeds which has given a major thrust to Bitcoin’s demand amongst international financial institutions.
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