San Diego installs first online Bitcoin ATM

The first two-way Bitcoin ATM (commonly known as an ATM) in San Diego has been successfully built and has been in operation since January 11. CoinOutlet and CoinStructive worked together to complete the project, with CoinOutlet responsible for the production of the Bitcoin ATM and CoinStructive responsible for the marketing.

CoinStructive , based in San Diego, specializes in “Bitcoin education, management, issuance and use, and other blockchain technologies applicable to retailers and other industries.”

The Bitcoin ATM is located on El Camino Boulevard in Encinitas, California. It is open from 10:30 a.m. to 9:30 p.m. Monday through Friday. New users who are not familiar with its inner workings can access their Bitcoins through a printed paper wallet, which contains instructions and the public and private keys needed to obtain Bitcoins.

Eric Grill and Chris Groshong, CEOs of Coinstructive and CoinOutlet , respectively, commented on the partnership.

“Bitcoin is no longer a new technology, and early adopters have proven that it can be used to move money anywhere, securely and conveniently, without relying on banks. Indeed, CoinStructive has helped move money into previously inaccessible markets in Cuba. We are very excited to deliver this ATM to the tech-friendly Bitcoin user base of Santiago, and even more excited to introduce our current brick-and-mortar partner to the Bitcoin industry, CoinOutlet CEO Chris Groshong . ”

“ It’s been a dream to work with a team that is so dedicated to educating businesses on how to turn Bitcoin into an advantage. That’s how you build a Bitcoin ecosystem that benefits millions of people. We look forward to bringing CoinStructive machines to California and working to get more merchants to accept Bitcoin in general . ” - Eric Grill, CEO of Coinstructive

Physical accessibility of Bitcoin has been considered a major obstacle to its popularity, but that problem will no longer exist in San Diego. Compared with its first generation of machines, CoinOutlet has made some improvements in both structural design and user interface, so the current Bitcoin ATM is not much different from a traditional ATM.