First Bitcoin ATM in Tel Aviv, Israel Installed by BITBOX

Image Credit: Wikimedia

First bitcoin ATM in Tel Aviv, Israel installed by BitBox! Tel Aviv has gotten its first bitcoin ATM on Wednesday, June 11th. The bitcoin ATM in Tel Aviv is the first of its kind in the Middle East. The bitcoin ATM is produced by Robocoin and BitBox is the distributor. People from Tel Aviv and surrounding areas will be able to buy and sell bitcoins using the ATM 24/7 – 365. The exact location of the bitcoin ATM in Israel, Tel Aviv is the lobby of the Town-House TLV hotel, located on Yavne Street, at the corner of Rothschild Boulevard according to 99Bitcoins.

“The launch of the first Bitcoin ATM in the Middle East will allow any person with no previous knowledge of Bitcoin and how it works to easily buy and sell Bitcoin 24/7 bypassing the bureaucracy of the banks”, said Nimrod Gruber, CEO of BITBOX.

Bitcoin ATM in Tel Aviv, Israel

Bitcoin buyers and sellers do not need a bitcoin wallet to use the bitcoin ATM in Tel Aviv, Israel. The machine will automatically create a bitcoin wallet and display the bitcoin private key and login info to the user on the spot!

Bitcoin is experiencing a massive growth-trend in Israel but until now all transactions must either be carried out through a bank, with a lot of bureaucratic hurdles involved, or through trading with private individuals which can be unreliable and raise questions of trustworthiness. Explained Nimrod.

The bitcoin ATM in Tel Aviv is built in the United States. Bitcoin users in Tel Aviv can buy bitcoins using the ATM and/or transfer bitcoins to their friends and family members across Israel, United States and other countries where bitcoin is legal. Any bitcoin sent to other countries or other locations in Israel are free of ATM fees.