Brisbane gets its first Bitcoin ATM

Located at the The Roastery Café in South Brisbane

Brisbane’s first Bitcoin ATM launched today, allowing users to make cash withdrawals using their online bitcoin wallet or purchase bitcoins.

The ATM was rolled out by Australian company Bit2Bit, and is located at the The Roastery Café in South Brisbane. The café itself accepts bitcoins as payment.

Bitcoins are used or sold at the market price. According to Bit2Bit, one Bitcoin (BTC) is currently worth $A468.60.

Users can register for a Bitcoin wallet via the ATM, and then they can add currency to their virtual wallets or sell bitcoins from the ATM.

“We’ve seen a surge of interest from the mainstream population wanting to be involved in the Bitcoin movement,” said Bruce Carrall, co-owner of Rouge Coffee.

“The currency has grown more than 1000 per cent each year for the past four years, and people are also starting to use it as an investment.”

In April, Sydney received its first Bitcoin ATM in Westfield mall in the CBD.

At the start of this year, LegalVision, an Australian legal service provider, announced it would allow customers to pay for services using the crypto-currency.

Netscape founder Marc Andreessen, PayPal founder Peter Thiel and Napster founder Sean Parker are some of the more high profile backers of the cryptocurrency, and together have invested more than US$50 million in Bitcoin related businesses.

However, it hasn't all been smooth sailing for the currency. Earlier this Tokyo-based Bitcoin exchange Mt. Gox filed for bankruptcy protection after losing $474 million worth of bitcoins. The exchange blamed a flaw in the Bitcoin software for the theft.

Read more: First dedicated bitcoin fund launches in Australia

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