Bitcoin vs Banking [infographic]
A new Bitcoin ATM that allows the users to buy and sell cryptocurrency has recently been installed in Seoul, South Korea. The machine was developed by the exchange Coinplug within a partnership with the well-known company Nautilus Hyosung, an international brand dedicated to the production of ATMs.
No identification is required to use the machine, which is connected to the exchange, but there is a limit of 100.000 won (around $100), according to information posted on Reddit by the user ‘RubenSomsen’. However, each address can be used up to three times.
The fee to use the ATM, which can be found in a coffee shop called Coffee Sedona inside the COEX Mall at Samseong Station, is less than one percent.
The machine’s menu is in Korean, but if you are a foreign visitor in Seoul you can also use the ATM, as the software is apparently very intuitive.
Nevertheless, Coffee Sedona is not only the place where the ATM is located. The establishment also accepts Bitcoin as a payment option for all its products and services, besides hosting a cryptocurrency-related weekly meeting every Saturday.
