Recently ,the first bitcoin ATM machine in China appears in a café in Gaucho ,shanghai .People can but bitcoin directly through the machine .The bitcoin ATM machine supports denomination value 50yuan and 100yuan.The news attracts many bitcoin fans and normal investors attention .
Actually ,why the new is so hot is that many bitcoin supporters have lower and lower confidence in bitcoin sine December last year .Now ,bitcoin trading amount has decreased by over 80%compared with last year .Thus ,the intent bitcoin ATM machine appears in Shanghai is obvious .
Appearance :small Operation;convenient
The bitcoin ATM machine is white as bank ATM machines .
Its operation is easy .First ,clients should register account in BTC China.Then find their wallet two-dimensional code and download or print it .Touch “start ”on the screen ,then scan the code on information reading area .insert CNY then the bitcoin may enter the account automatically.
However ,bitcoin ATM machines are not first founded in China.On October ,2013,the first bitcoin ATM machine of the global has appeared in Vancouver ,Canada .Clients can choose to input bitcoin address and password to exchange CAD or save cash into bitcoin accounts .While the ATM machine in China ,people can sell or buy bitcoin and exchange cash .
One-way operation is criticized as self-hype
Compared with two-way operation bitcoin ATM machines in Canada and Australia ,Chinese ATM machine only can finish one-way operation –CNY purchases bitcoin .The point is scolded by netizens with the suspicion hype and gain money .
A netizen said :central bank of China has ensured that bitcoin is virtual funds not virtual currency .Bank ATM machines can gain cash ,but yours only can “eat ”cash not “vomit”cash .It can not be ATM machine,only can be a vending machine .Another netizen said ,bitcoin is only a series of code ,I cant touch or see it .why should I take CNY to buy it ?It’s only a hype .Now bitcoin is not like gold or Q coin ,only a cheat .
Meanwhile ,many bitcoin fans express their worry .If clients input their cash ,but suddenly meet power cut,what should they do ?Thus ,bitcoin ATM to BTC China ,maybe its publicizing value is Superior to practical value .
Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can correct it.
