Two Bitcoin ATMs have suddenly — and quietly — popped up in the Uptown area of Dallas. The virtual currency exchanges allow folks to replace their U.S. dollars with Bitcoin currency.
DALLAS -- Two Bitcoin ATMs have suddenly — and quietly — popped up in two trendy areas of Dallas.
The virtual currency exchanges allow folks to replace their U.S. dollars, backed by the federal government, with Bitcoin currency, a peer-to-peer virtual money service.
Will Fayen, who runs a local Bitcoin "Meet" group, said the arrival of the ATMs signifies a big step for North Texas.
"I had three different companies contacted me asking about bringing a Bitcoin ATM to Dallas," he said. "This could be big here."
Fayen recommended the Pop Diner off McKinney Avenue as one of the locations. Staff told News 8 the ATM arrived earlier this month.
The move is long overdue, according to a growing number of students at UT Arlington.
"We're actually behind," Justin Hendrix said.
Two Bitcoin ATMs have quietly popped up in Dallas' Uptown neighborhood. WFAA
Hendrix, the vice president of the college's entrepreneur society, said his group just announced it would accept Bitcoin for membership dues and uses the currency for more of its operational functions.
"The response has been huge," he said. "When we announced on Facebook, we saw a 700,000-percent increase in 'reach,' as given to us in data by Facebook."
Bitcoin launched mysteriously in 2009. It allows users to purchase items or exchange services, without a "middle-man," like banks. There is little regulation, as the decentralized currency is global.
The currency hasn't been without problems, and Hendrix acknowledges getting it accepted "across the board" may be years away, if it happens at all.
Still, he sees room for growth at UTA.
"To me, the end game would be for students to be able to pay their tuition in Bitcoin," he said.
The second ATM is located at Buzzbrews in Deep Ellum. It was installed last week.