Vancouver, B.C. Robocoin, the world’s first Bitcoin ATM, continues to ride a caffeine-and-media induced buzz. On just its 29th day of operation, the first Robocoin has exceeded $1,000,000 CAD in volume from 1,576 transactions. Over one half of the buy-transactions generated new wallets, suggesting that Robocoin continues to attract first time bitcoin users.
In the days since Robocoin’s launch announcement the price of Bitcoin has jumped from $177 USD to $881 USD (on the Bitstamp exchange according to Bitcoincharts.com.) While China’s bitcoin enthusiasm and a remarkably positive US Senate hearing helped lead bitcoin’s recent price surge, Robocoin contributed by injecting unprecedented present and perceived bitcoin liquidity along with favorable press, mainstream acceptance and technological leadership with Anti-Money Laundering and Consumer Protection compliance.
Those familiar with Bitcoin have long lamented the historically arduous exchange process and have been delighted by Robocoin’s ease-of-exchange. Some customers used their newly purchased Bitcoins to buy coffee at the Bitcoin-accepting Waves location, while others impressed their parents by exchanging Bitcoins for Canadian dollars.
Robocoin #1, Month One Timeline:
•Day One: Robocoin opens for business inside the Waves Coffee House at 900 Howe St., completes over $10,000 transaction volume from 81 transactions between Bitcoin and Canadian dollars.
•Day Seven: first week transaction volume of $81,000 CAD exceeds first-month goal of $50,000.
•Day Eight: Robocoin exceeds $100,000 CAD transaction volume from 348 exchanges.
•Day 17: Robocoin breaks even for operators (fee revenue = operator hardware price)
•Day 29: $1,006,550 from 1,576 transactions
•Robocoin is media friendly: Forbes called us “the machine face that launched a thousand articles,” thanks to coverage in Wired, Time, New York Times, Washington Post, Huffington Post, Nasdaq, Mashable, Reuters, Gizmodo, TechCrunch, Venturebeat, The Daily Beast, Business Insider and others. Seriously, we love you.