<P> Bitcoin machines are not ATMs in the traditional sense and probably use the wording ATM as a neologism . Bitcoin kiosks are machines which are connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain . They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account and instead connect the user directly to a Bitcoin exchange . According to an advisory issued by the Consumer Financial Protection Bureau, "they may also charge high transaction fees--media reports describe transaction fees as high as 7% and exchange rates $50 over rates you could get elsewhere". </P> <P> Bitcoin ATMs were reported by Brian Krebs in 2016 to be rising in popularity for money muling, a type of money laundering where money is moved out of banks to extorters . </P> <P> On October 29, 2013, a Robocoin machine opened in the Waves coffee shop in downtown Vancouver, Canada . This machine is understood to be the world's first publicly available bitcoin machine . Robocoin ceased operations in January 2016 . Some Robocoin machines have since then been converted to run other software . The first machine in the United States went online on February 18, 2014, in a cigar bar in Albuquerque, New Mexico . It was removed 30 days later . In late 2013, The D Casino install the first Bitcoin ATM in a casino in Las Vegas . A New Zealand bitcoin machine operator announced in 2014 they had to shut - down operations due to interference with banks . In 2014 a former Robocoin operator in the UK hacked its bitcoin ATMs to run on software from rival manufacturer Lamassu . </P> <P> Bitcoin machines are not yet regulated in Canada, however regulations have been officially proposed for all bitcoin exchangers . In February, 2014, the Canadian Finance Minister mentioned plans to introduce anti-money laundering and anti-terrorist financing regulations for virtual currencies such as Bitcoin . </P>

Where was the first ever bitcoin atm machine installed