The Bitcoin Cash North Queensland Twitter account has announced that the first Bitcoin Cash exclusive ATM has been officially installed. The tweet reads: “[Bitcoin Cash] VENDING MACHINE IS LIVE AT [Strand Fitness]! NQ’s 1st BCH only vending machine is ready to dole out BCH directly to your electronic wallet. Super easy, super fast!”. Due to Australia’s laws regarding cryptocurrency, the device cannot be called an ATM as Bitcoin Cash (or any cryptocurrency) is not recognized as legal tender.
The machine allows users to input fiat and get it exchanged for BCH, but it does not allow for BCH to be converted into fiat. This is a one-way machine.
Bitcoin Cash distances itself from Bitcoin (Core)
Since the creation of Bitcoin Cash, its fans and developers have been trying hard to distance themselves from standard Bitcoin, while still sharing the same name. The creation of ATMs (or vending machines) which deal exclusively in Bitcoin Cash is just another step in the direction towards this goal. According to the Bitcoin Cash North Queensland Reddit account, this is just the first of six machines ready to be installed in the area. This will make North Queensland into a hub for Bitcoin Cash enthusiasts and could lead the way in bringing BCH to the masses.
Crypto ATMs which do not facilitate Bitcoin
Cryptocurrency ATMs that do not support Bitcoin are a rarity in this day and age. Currently, almost all ATMs support at least Bitcoin, with many others supporting some other popular coins such as Ethereum and Litecoin. It is generally believed that there is just no desire for machines which do not hold Bitcoin. This is what makes the recent BCH ATM so important. Its existence reveals a shift in focus. If there is a desire for ATMs which do not support Bitcoin then it could suggest a move towards using altcoins instead of Bitcoin. This could be the start of a push towards respecting altcoins at the same level as Bitcoin.
Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.