Bitcoin ATM Cashes in on Seattle

Global Business

Last year, Vancouver, Canada launched the world’s first bitcoin ATM machine. Now, Seattle is home to the first bitcoin ATM in the Northwest U-S, making it the fourth one in the entire country.

Bitcoin ATM Cashes in on Seattle

Bitcoin ATM Cashes in on Seattle

Last year, Vancouver, Canada launched the world's first bitcoin ATM machine. Now, Seattle is home to the first bitcoin ATM in the Northwest U-S, making it the fourth one in the entire country.
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With a tech-savvy population, a growing number of business owners in the city are now hoping to cash in on the crypto currency craze.

Whether they were curious or serious, a few dozen people gathered at a Seattle sports bar to learn more about Bitcoin.Buying or selling the digital currency using the new ATM here is as easy as entering your phone number, scanning your palm, entering a government ID, then having your picture taken.Security measures designed to ease any fears.

However, Washington State’s top banking official is still warning consumer. The Nesbit family has repaired watches in downtown Seattle since 1897. Accepting Bitcoin as payment was their son’s idea.

The owners of the Cheese Wizards food truck aren’t math wizards, but one big draw: Bitcoin processors offer lower transaction fees than credit card companies.

On its best day, the truck takes in about four or five Bitcoins, but does not keep them. A sign that Bitcoin still has a long way to go for business owners, before it can match the almighty dollar.