World’s First Bitcoin ATM Faces Trouble in Vancouver

First Bitcoin ATM

Vancouver Canada’s first Bitcoin ATM that was installed in Waves Coffee Shop has shut down the buying option. Due to the fact that there has been an extensive delay in processing the bitcoins at Bitstamp, Bitconiac had to close the buying feature. Bitcoiniac had installed the first Bitcoin ATM, and is hoping to install more all over Canada.

The coffee shop is dealing with currently 34 BTC in backlog that has been unprocessed since last Tuesday. Bitstamp has not responded to this issue as of yet. Until the backlog is cleared up, and a response from Bitstamp is given, the ATM will not go back online. On Reddit, Bitcoiniac wrote,

“To any customers waiting for their coins to come through we apologize for the inconvenience and confusion, and we thank you kindly for your patience.”

Money Will Not Be Lost!

For anyone worrying about losing money, Bitcoiniac continues,

“We can also assure you that you will not lose any money or coins as a result of this.”

With this reassurance, one can at least have hope that their money will be returned to them. It is very disappointing that Bitstamp has not processed the payments. Bitstamp is a digital currency exchange based in Slovenia. We advise that all users be careful with where and how they exchange their bitcoins. In addition, with businesses around the world rushing to install Bitcoin ATMs, one might wonder if they could also face such a problem.

To see the status of Vancouver’s first ATM, just look at the front page of Bitcoiniacs. More information regarding this will be posted as soon as we receive an update.

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