Czech Republic Bitcoin ATM

With  news surrounding bitcoin ATMs making their way around the world, another country has entered the bitcoin ATM world. The Czech Republic will join London, the United States and Canada, along with other countries to welcome the Czech Republic Bitcoin ATMs.

Marlyle, a Czech investment firm, has announced plans to put the first ATM in the country’s capital, Prague. Users can purchase and sell bitcoins using the Robocoin manufactured ATM.

The firm looks to install three American made machines. The first will be placed in the Smichov district of the Czech capital. According to an operator, the contract was decided last December, and is said to be worth about 1.5 CZK, equivalent to $74,500.

The first Czech Republic bitcoin ATM is set to make its debut to the public in April of this year. As of now, there is no information on where the other two machines will be placed. Marlyle said that they will reveal more information on their plans in February.

ATM Preferences

On a related note, Lamassu, rival to Robocoin, received more than 120 orders for their version of the bitcoin ATM back in December 2013. The orders came from 25 separate countries. Lamassu has also created an online map that tracks where their machines have gone to in 2013.

Lamassu’s ATMs cost $5,000 each, however, buying in larger quantities of 10 or more lowers the price to $4,000 each. Though Lamassu units are cheaper to acquire compared to their contract with Robocoin, Marlyle prefers Robocoin’s quality:

“Unlike the (Lamassu) machine which was recently launched in Bratislava, (Robocoin) will allow you not only to buy bitcoins, but also to sell them.” 

Chief executive of Marlyle, Martin Stransky says the first Robocoin model is meant to attract and support users interested in digital currency. He stated:

“We believe that this versatile and customer-friendly service will enable digital currency trading to those people who are thinking about it today, but have been discouraged by concerns related to the safety of their investments.” 

Robocion mentions that its machines consist of a 3-step verification process, allowing users to buy bitcoin in less than 15 seconds. Their ATMs “come fully equipped with bank-grade security and biometric hardware.” In addition for extra security precautions, scanners “can limit a user’s daily transaction amount by taking a unique, anonymous infrared picture of a customer’s blood vessels.”

This replaces the need for traditional protection over lost credit cards or misplaced pin codes- consisting of some pretty high tech and futuristic concepts.

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