Bitcoin ATM in Ipoh to buy cryptocurrency or cash out

PETALING JAYA: There is a Bitcoin ATM in Ipoh, where users can buy the cryptocurrency or cash out.

The ATM, which was introduced by Pinkexc (M) Sdn Bhd in 2016, recorded an average of 50 transactions a day.

That translates to about RM80,000 worth of transactions where users buy and sell Bitcoins. Users need to have their Bitcoin wallet handy on their mobile phones to conduct their transactions.

The founders set up the company in Malaysia after coming across such ATMs in Japan and South Korea.

China Press reported that the founders have applied to Bank Negara Malaysia to set up their ATMs across the country. However, they weren't able to get their permits yet.

The software for the Bitcoin ATM is being upgraded to include other cryptocurrencies too, such as Ethereum, Lite and Dash.