Virtual Currency to Open Cash Machine in Hong Kong

Virtual Currency to Open Cash Machine in Hong KongThe Canadians behind the world’s first bitcoin cash machine for the virtual currency is shifting the currency revolution to the East as they are preparing to open a second virtual cash machine in Hong Kong. The second teller machine Robocoin will be ready for business before the month ends just in time to take advantage of strong interest that will lead to the Lunar New Year.

Robocoin CEO Jordan Kelley said that Hong Kong beat New York and Singapore in a strict competition as the company saw so enthusiasm in Asia for the bitcoin currency that made it vital to create a presence in the region. The project will create a partnership with entrepreneurs and businessmen that are well connected and fully established and the company will be looking at several places and locations in Hong Kong to install the cash machine.

First time buyers of the currency will find it easier to speculate and invest using a automated teller machine. Although a lengthily registration process is needed for the online bitcoin exchange, thus forcing its customers to wait several days before being allowed to purchase the coins for the first time. Using the cash machine buyers can buy the currency after registration which will only take five minutes.

The bitcoin frenzy started in 2009 as a way to sending money electronically without going through third parties, the currency is not regulated by any bank and currently there are 11 million bitcoins in circulation.

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