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L.A. Is Getting Its First Bitcoin ATMs
Bitcoins accepted here (Photo by Juliet Bennett Rylah/LAist)
We're only five years away from Blade Runner and already getting our very first Bitcoin ATMs. Two years after the advent of the Cupcake ATM, the Bitcoin ATM will allow users to convert their digital currency into cash. The ATMs will go inside Locali Conscious Convenience in both their Hollywood and Venice locations, L.A. Times reports.
Each ATM cost $15,000 and was built by a company called Robocoin. The ATMs will be managed by a Santa Monica bitcoin processor called ExpressCoin and function kind of like a currency exchange. Users can scan a QR code on their mobile phone to withdraw the cash.
Locali is currently working on being able to accept bitcoins as payment, but there are plenty of other things in L.A. you can already do with them. You can get a manicure at Wynn in Hollywood, or eat at La Petit Jardin. You can help a politician get elected and you can buy a Tesla. You can also by 50 Cent and Mastodon's new albums with bitcoins. Welcome to the future.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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