Laurel, ML -- (SBWIRE) -- 05/08/2013 -- Bitcoin is a virtual currency used by million of users around the globe. Being introduced in 2009, it has crossed $1 Billion in a very short time. Now the users of bitcoins would be able to use an ATM machine to transact their digital currency. The head of TDV Media has announced the work is being done to introduce an ATM for the bitcoin users where they can easily manage the account of the virtual currency. According to the CEO of TDV Media, the reason for the introduction of Bitcoin ATM is to help the millions of users to access the currency.
Bitcoins works on software that uses peer to peer connections used for monetary transactions. It is open source currency. Bitcoins can be exchanged for paper currencies and the exchange can also be done online. Bitcoin ATM is enabled with a two-way automated system which works for the exchange of currency. The bitcoin credit can be exchanged for paper currency and cash can be deposited to increase the bitcoin balance in the bitcoin wallet online.
Bitcoin currency is one of the very few digital currencies which has become popular in the recent past. People who have invested in Bitcoins have received multiple times from their investment. According to Bitcoincharts.com, the value of one Bitcoin has increased three fold in just six months. Bitcoin is a truly decentralized currency and the value of which is decided in the open market. More and more people are turning to this online currency because it is the only currency which can be traded in the open market. Bitcoin is one of the favorite currencies which the users can use to transact online. The convenience and the way the currencies are traded in a real time have attracted many users to use Bitcoin for their online purchase and services.
The first Bitcoin center is being planned to open in Cyprus.