BANKING AFFAIRS

Detailed explanation-1: -The ATM machine, operated by Vancouver-based Bitcoiniacs and Nevada-based Robocoin, converts bitcoins to Canadian dollars and vice versa. It opened for business in a Vancouver coffee shop, yesterday.

Detailed explanation-2: -On Oct. 29, 2013, a coffee shop in downtown Vancouver, Canada, opened what is understood to be the world’s first publicly available Bitcoin (BTC) ATM, operated by Robocoin.

Detailed explanation-3: -Canadian Bitcoin ATMs in 2022 are mostly found in the big cities: Toronto, for instance, had around 600 more ATMs than Vancouver. Toronto and Vancouver are two of only three cities in the country that had more 200 cryptocurrency installations.

Detailed explanation-4: -The first Bitcoin ATM came into existence On 29 October 2013, which was started in a coffee shop in downtown Vancouver and the automatic teller machine(ATM) was operated by Robocoin. The first week after the installation of a bitcoin ATM, it recorded about 348 transactions worth approximately $100, 000.

Detailed explanation-5: -As of 2022, there are around 1, 051 crypto ATMs available for use in Canada.