Malaysia gets its first Bitcoin ATMs

Got Bitcoin? You can withdraw some if you’re in Kuala Lumpur or Penang
Malaysia gets its first Bitcoin ATMs

With all the noise being made of the BitCoin exchange Mt Gox being hacked and the precious crypto-currency being stolen, it’s surprising that the ATM machines, or rather Auto Vending Machines (AVM) are being rolled out in Malaysia.

The company that’s rolling the AVMs out here in Malaysia is Singapore based company Numoni Pte Ltd and they first showcased the AVM in this year’s MWC. And where are the first of the machines located? In KL Numoni has installed it over at Bangsar Shopping Centre while Gurney plaza is the lucky mall in Penang that has the AVM machine installed.

So do we even need Bitcoin AVMs here in Malaysia at all? According to Numoni CEO Norma Sit, despite the troubles the crypto-currency has gone through, it is still in demand and Malaysia has potential for its uptake.

With that in mind, we’re not going to be seeing just two machines as Numoni intends to install 10 Bitcoin AVMs within a year and 100 AVMs within three years. Now that’s a lot.

Bitcoins aren’t the only thing that these AVMs can dish out. They can also be deployed to sell prepaid airtime and Numoni will work with local telcos to implement the service.

Although there is a community of Bitcoin users here in Malaysia, the uptake of the crypto-currency isn’t exactly widespread here not to mention in most parts of the world. It’ll be interesting to see just how Malaysians will react to Bitcoin, especially since it’ll be a little more easier to purchase, if Numoni’s roll out plans come to fruition.

It’s still going to be a tough sell since the “cash is king” mentality is still pretty prevalent for most consumers.

Source: Bernama

Image credit: The Star