Welcome! Use BTC, LTC, ETH, DASH, DOGE, XMR, USDC, USDT, and DAI to buy Gold, Silver, & Other Metals. 

Veldt Gold Logo

New Mexico Hosts First Bitcoin ATM

Written by Veldt Gold
Feb 20, 2014
Veldt Gold
Feb 20, 2014

The nation’s first Bitcoin ATM is up and operating at a cigar shop called Imbibe in Albuquerque, New Mexico. The ATM’s owner/operator is Eric Stromberg who says he chose New Mexico because they are friendlier to Bitcoin than most states.

There are many advantages to dealing in Bitcoin, one is, of course, the privacy factor. Bitcoin can be completely anonymous. That comes in handy, as surveillance tightens up in the United States. All you need to complete a transaction is a smart phone which carries your virtual wallet and QR codes. You simply insert cash into the ATM, and Bitcoins instantly show up in your virtual wallet.

Stomberg believes Bitcoin transactions will become more widely used than PayPal.

“There are a number of merchants in the world and there are at least eight in Albuquerque that accept Bitcoin as payment,” Stromberg said.

Furthermore, he states, “There is a growing number of online merchants accepting Bitcoin. Two most recent are overstock.com and tigerdirect.com”