Bitcoin ATM. "You put your cash deposit into the machine and either it tell it to generate a digital Bitcoin wallet for you and put your money there, or give the machine a preexisting wallet address for depositing your coins. It will print a QR code as a receipt of your transaction. About 10 minutes later, the Bitcoin network will push your transaction through, giving you access to your new Bitcoins. If you want cash for your Bitcoins, bring your QR code back to a RoboCoin kiosk, scan it, and watch as it dispenses your physical money. Bitcoin to cash instantly, cash to Bitcoin almost instantly (consider the three- or four-day waiting period)." So evidently it could convert your cash to Bitcoins in 10 minutes, but it actually takes 3-4 days because of some regulation requiring a waiting period.
Posted on: Tue, 10 Sep 2013 05:12:28 +0000
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