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December 15, 2014

Houston Gets its First Bitcoin ATM

Business world luminaries as prominent as Mark Cuban don’t believe that Bitcoin is going to be around all that long. That hasn’t stopped some people from actively pursuing the next step in the digital currency trend. The George R. Brown Convention Center is Houston is one spot that is looking to join the growing movement and is also the proud site of the first Bitcoin ATM kiosk in the city.

The ATM is apparently just the latest move by business leaders in Houston to embrace the digital currency. We see it as an amenity that has a lot of value," Mark Goldberg, Houston First's assistant general counsel recently told the Houston Business Journal. "We feel when (visitors) start using it, the demand will grow exponentially.”

Houston officials believe that the Bitcoin ATM will be especially attractive for International travelers who don’t want to have to deal with foreign exchange rates. Bitcoin has one rate, no matter country you are in, though there have been some who pointed out that the rate tends to fluctuate quite a bit.

Using Bitcoin is technically also safer because there isn’t a need to carry a wallet or a credit card in order to pay for purchases. Since all of the currency is online, people simply need to know their account information. The ATM is used by logging into the ATM’s dashboard and exchanging Bitcoin for cold, hard cash.

There is very little doubt that Houston won’t be the last place in the U.S. to have one of these ATMs. Las Vegas is another site boasting the ability to access this kind of quick Bitcoin conversion to cash. Canada also had one of the first Bitcoin ATMs in North America.

Other companies have started to see the trend going in this direction and are trying to take advantage. Circle recently launched a Bitcoin bank and shortly after that, launched its own dedicated mobile application.

Edited by Maurice Nagle

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