LocalBitcoins cryptocurrency ATM machine producer

Total number of LocalBitcoins ATMs installed: 0

About: LocalBitcoins ATM project aims to provide automatization for converting cash to bitcoins and vice versa. The device works completely offline. ATM:s are integrated to Localbitcoins website, and the actual bitcoin trade happens on Localbitcoins.com; the ATM only takes care about the fiat handling.

There were two machines initially installed in Helsinki. But in August 2014 the company announced production batch out.

Buying process: Buyer feeds banknotes to the machine, and gets a secret code in return. The code is used to claim the corresponding amount of bitcoins to your localbitcoins.com account. The exchange rate is defined at the moment the code is used.

Selling process: Seller logs in to his/her localbitcoins account, and goes to the URL of the ATM he/she aims to use for withdrawal. The seller selects the amount he/she wants to withdraw from a dropdown menu. After selecting the withdrawal amount, corresponding amount of bitcoins are reduced from the seller's localbitcoins wallet and the user will receive a code, which is given to the ATM through the keyboard. After the code has been inserted, the ATM will give corresponding amount of notes to the customer.

Capacity: With the first model, note recycling unit can hold 30 bills. Next gen. models will have bigger capacity.

Accepted bills: All banknotes where the size is inside of the range (width) 60-82 millimeters, and (length) 115-150 millimeters. The device can accept 6 different kind of bills from the selected currency. The device can be programmed to handle almost any known currency, but only one can be used at the time.

Size(w/h/d): 318 x 340 x 264 millimeters

Display: 87.3 x 41.8 mm one color lcd display

Weight: 15 kg

More details here.

Price: 1,500 € (+VAT for EU customers)

Site: http://localbitcoins.blogspot.ch/2014/02/introducing-localbitcoins-atm.html