The first Bitcoin ATM in North Bergen, New Jersey has just been installed and is now fully operational, offering the convenience of trading US dollars to Bitcoin, Ethereum, and Litecoin.
Operated by the US-based cryptocurrency kiosk company Belco BTM, the Bitcoin machine is currently located at the Delta Food Mart convenience store on JFK Blvd. and 91st Street, providing Bitcoin vending services to local customers, according to Hudson Reporter.
At present, Belco BTM’s kiosks are operating in four Jersey City locations, including Deli LLL, JBM Tech store, Hudson Greene Market, and Paradise Deli.
With a total of eight cryptocurrency kiosks currently spread across the state, apart from Jersey City, Belco BTM has also expanded to West New York, Bayonne and Union City.
Exchanging digital currency via Bitcoin vending machine requires downloading a specific cryptocurrency wallet app. To get started, the user will be prompted to type in his mobile number on the Bitcoin ATM, after which an SMS code will be sent to the user’s number. The bitcoin code trading app will then be entered into the Bitcoin ATM’s system, followed by the wallet address. The user inputs the desired fiat amount to be traded, after which the Bitcoin ATM displays the cryptocurrency equivalent of the sum entered.
As it would appear, Belco’s Bitcoin vending machine would not be the first initiative New Jersey has taken in introducing cryptocurrency trading to local businesses.
In 2014, Helen’s Pizza, a family-owned restaurant serving Downtown Jersey City, has also started accepting Bitcoin as tender. In West New York and Secaucus, digital marketing firm AdRite Solutions has also adopted digital currency payments.