The digital currency Bitcoin is heading to the physical world. Lamassu has begun production on a Bitcoin ATM and plans to ship 15 preliminary units in September.
The Bitcoin Machine would allow people unfamiliar with Bitcoin exchanges to convert cash into the digital currency without having to sign up with an online exchange. When Lamassu, which is based in Porta, Portugal, began taking preorders on Monday, the company received enough interest to fund the preliminary production units. The new batch of preorders are expected to ship by the end of the year.
“I believe the excitement revolving around our machine stems from a few of its basic advantages over other methods of obtaining Bitcoin," Lamassu CEO Zach Harvey said in a statement. "Those advantages are ease of use, zero registration, walk-in conversion, and no minimum deposit."