Australian Bitcoin ATMS (ABA) Technologies has launched the country’s first bitcoin ATM at Westfield Sydney Central Plaza in Sydney, allowing customers to buy and sell the digital currency and exchange it with cash.
The ATM is completely secured with full encryption and is compliant with international regulations concerning unlawful transactions. It scans government-issued photo ID and uses facial recognition technology to compare the photo with the face.
Additionally, customers can scan their palm on the ATM and use a PIN and their phone number to verify the transactions.
ABA Technologies CEO and co-owner, Chris Guzowski, said the machine, which is the first of several to be rolled out across the country, will make it easier for regular people to deal in bitcoin.
"This is new technology, it’s disruptive and with the ATM there’s no intermediary holding onto your cash," Guzowski added.
ABA plans to deploy second bitcoin ATM in Melbourne within the next few weeks.