With more Bitcoin ATMs becoming available world wide, one of the fastest growing cities in the world and often referred to as the world’s most modern city has just gotten a little more modern with a new Bitcoin ATM.
Using the KYC (Know-Your-Customer) procedure the ATM makes contact with your mobile phone which you insert into the ATM, once you have done so you can insert the money into the ATM, a text message will be send to your smartphone from which you can access your address containing the BTC. The ATM allows you to purchase a maximum of 1 BTC a day.
Over the past couple of months many countries have been starting to get Bitcoin ATMs, countries like UK, Switzerland, China, Japan, Singapore, the US, New Zealand etc. and now the United Arab Emirates federation. The company behind the technology of the ATM has made a video demonstrating how it will work also officially revealing the ATM for the first time.