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January 23, 2014

Bitcoin ATM to launch in Smíchov

First European RoboCoin ATMs slated for Prague

Prague will become one of the first European cities where the RoboCoin will be installed – an innovative ATM offering the purchase and sale of Bitcoins.

Czech company Marlyle Ltd. recently invested 1.5 million Kč (€ 56 000) into a new type of ATM machine, by signing an agreement with the American company RoboCoin Technologies LLC based in Nevada. Unlike the machine that was recently installed in Bratislava, this device not only allows the purchase of Bitcoins, but also the option to sell Bitcoins.

RoboCoin is a fully suitable alternative to buy and sell Bitcoins outside the Internet. Until now trading was possible only via online Bitcoin exchanges. RoboCoin provides the indisputable advantage of transactions taking only several minutes and finances collected from the sale can be taken by the client immediately, with no need to wait several days before they are credited to the account.

The company Marlyle has ordered three exchange machines – the first will be placed in a specialized location in the Smíchov area of Prague. Every client will be able to complete a transaction comfortably and quietly, and if needed, a qualified specialist will be available to assist with the transaction. The first transactions are expected to occur in April this year.

According to company executive Martin Stransky, the RoboCoin installation in Prague is a part of a large upcoming project. The goal is to create a unique and universal service that will guarantee customers the safe storage of Bitcoins and other types of virtual currencies, including the possibility of protection against loss or theft. Robocoin will further enable user-friendly and comfortable purchases, exchanges, and sales of virtual currencies with quick access to cash.

“We believe that this versatile and customer oriented service makes trading with virtual currency available to people who are thinking about it today, but haven’t taken active steps yet because of the fear of technical difficulties or concerns about the safety of their investments,” said Stransky.

More information concerning the future of this project will be announced in February.

Bitcoin is a virtual currency, equivalent to internet cash. Its main feature is that no central authority would affect its value, for instance by influencing the amount of money in circulation. Its existence and pricing policy is based solely on trust and the willingness of Bitcoin owners to trade.

Press release from Marlyle Ltd.
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