Sunday, 05 July 2020

Bitcoin ATM operational in Dubai

An automatic teller machine enabling customers to buy the encrypted currency was launched in Dubai, according to Khaleej Times.

The ATM service, owned by Amhora company, can be used by customers to purchase the digital currency but cannot sell it, for now, through the kiosk.

They will be allowed to sell their digital currency, bitcoin, within the coming two months.

Customers can sell their bitcoins on any other platform after purchasing from the digital kiosk, which is located in Rixos Premium Dubai JBR.

Amhora CEO Anhad Dhingra said his company, which holds a licence for the kiosk from the Department of Economic Development, will charge five per cent commission on the total purchase. The kiosk will display live prices of bitcoin.

Customers will not need any document for buying the digital currency but they will be required to swipe Emirates ID or passport when selling the currency later.

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