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Thursday, 24 April 2014

First BitCoin ATM in Dubai

The first BitCoin ATM was activated in the country. 

Located in an office in Dubai Media City area, the kiosk allows people to deposit money into their Bitcoin wallet.

Umbrellab, the company that is developing the technology, aims to integrate it into existing 300 service electronic kiosks located in shopping malls, supermarkets, hotels and labor camps across the UAE. Another 100 kiosks stored in a warehouse will also be activated. Each person will have a limit of AED 2, 000 (about 400Euros) Bitcoin transactions per day and AED10, 000 (about 2000Euros) per month.


 
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