News

Bitcoin ATM-maker's machines averaging $10K daily in transactions

February 10, 2014

Canada-based startup BitAccess is racking up $10,000 in Bitcoin transactions daily, the company announced recently. So far, BitAccess has launched machines in the Canadian cities of Toronto, Montreal and Ottawa, according to a report by NewsBTC.

The manufacturer, which competes with the cash in-cash out ATM by Robocoin and the cash in-only ATM by Lamassu, has received a $10 million funding commitment from BitCapital. The money is to be invested in increments in the period of 1 to 2 years, according to Two Bit Idiot.

BitAccess co-founder Abdul Haseeb Awan, who calls his machines "Bitcoin Teller Machines," told NewsBTC that the company plans to expand into markets that include Dubai, Caracas, Manila, and Beirut.

Read more about ATM innovation.