Bitcoin ATM launched in Hong Kong

Bitcoin ATM launched in Hong Kong

Bitcoin ATM launched in Hong Kong


Just one week after Singapore launched its first Bitcoin ATM, Hong Kong has finally gotten its first few Bitcoin ATMs as well. The first ATM has been installed at Mr Bing, a Chinese pancake restaurant in the central part of the city.


The ATM which functions more like a vending machine started operation at 7:30am local time this Friday. It is a convenient platform for users to purchase Bitcoins using fiat currency. The Bitcoin Group HK machine is a Lamassu-made Bitcoin ATM.


Unveiling on the same day, ANXBTC, local Hong Kong Bitcoin exchange launched a similar machine just a little later than Bitcoin Group HK’s. ANX’s CEO, Ken Lo said, “It’s like regular banking – some people prefer to go to the teller, some people don’t want to deal with people at all. It’s about catering to people’s habits.”


ANX said that initially, there will be no fee, but in the future, there will be a transaction fee charged. The company’s COO, Dave Chapman demonstrated how to use the new machine. He scanned a code across the sensor, then inserted a HK$10 into the machine. After the transaction was completed, his smartphone gave out a beep within seconds confirming that the Bitcoin has been electronically transferred to his online Bitcoin wallet.


A third company, Alboit, was reportedly to be unveiling three ATMs within weeks. These ATMs will become operational in Lan Kwai Fong, Tsim Sha Tsui and Sha Tin revealed Kif Hong, one of Alboit’s founders.


Bitcoin Group HK was formed by five long-term residents of Hong Kong who came together looking for venture opportunities in the new digital currency. “The venture began as a group of bitcoin-enthusiasts seeking a venture opportunity, and has blossomed into an incredible opportunity that will take advantage of the rapidly expanding currency known as bitcoin.”


Should the first ATM prove successful, Bitcoin Group HK hopes to continue expanding the Bitcoin ATMs.

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