Get your Bitcoin in cash: World's second Bitcoin ATM to open in Hong Kong

The world's second Bitcoin ATM is due to land in Hong Kong by the end of this month, according to U.S. based software company Robocoin.

The machine, available for sale to individual operators such as banks and private entrepreneurs, allows users to buy or sell Bitcoin in just a few minutes.

The process should be much faster than setting up an account on an exchange or via mobile apps and computers which could take a few days for account verification.

The advent of Bitcoin ATMs is seen as a step towards bringing the digital currency into the real world.

"It removes all the pain and barriers of entry to buying Bitcoin on an online exchange," said Robocoin chief
executive Jordan Kelley.

"Our goal as a company is to make the acquisition truly grandma friendly," he added.

READ: What is Bitcoin?
The virtual currency has generated lots of media attention in China where investors have helped drive the price up to dramatic highs above $1,000.

"I think we're going to unleash the power of Bitcoin. It opens a virtual money portal where people can send money to and from," said Kelley.
This is how it works:
www.benlatestnews.com