Bitstop launched a bitcoin ATM in Miami, Florida, and plans to expand in the area. This is the only operating bitcoin ATM in Miami according to Coin ATM Radar.

The previous version of this article stated Bitstop's machine was the first bitcoin ATM in Miami

A new bitcoin ATM or BTM, as it is called on the Bitstop's website was installed in the Wynwood Cafe in Miami city centre. The Cafe is a part of the Wynwood Warehouse project, the space dedicated to promotion of contemporary visual arts and cultural enrichment of the local community.

The bitcoin ATM enables users to buy bitcoins with cash after scanning their U.S.-issued ID and then their bitcoin address on a mobile device. The daily limit is $300 per person. The ATM charges 9% fees. The commission is higher than the average 6.15% purchase fee calculated for 335 machines that support buying bitcoin. 

Bitstop invites organisations to collaborate and to “become a bitstop” promising software, training, and support to potential partners.

At the moment Bitstop offers only to buy bitcoin. However, Bitstop retail that will presumably allow users to cash out their cryptocurrency is announced as “coming soon” on the website. For selling bitcoin no ID will be needed.

After using Bitstop ATM users will be able to log in to their account on the website with their ID number and mobile phone number they used for the ATM transaction.

The first bitcoin ATM in Miami was installed by Skyhook in Escobar Solutions Inc. office but it is not available any more.

Currently, the U.S. is the leading country by the number of bitcoin ATMs in the world with 151 of them out of the total 456 in the world located in the States. CoinFox reported recently on the plans of a Greek bitcoin company Cubits and a Greek bitcoin exchange BTCGreece to install 1,000 ATMs in Greece and to supply the local population with cryptocurrency.

Aliona Chapel