Bitcoin ATMs Showing up in Texas
Bitcoin ATMs are popping up across the state, but instead of getting money out like a traditional ATM, you're putting money in. Bobby Sharp with Texas-based "Coinsurance" said the ATMs let people buy the cryptocurrency without going through a bank or an online retailer. He argued the traditional process takes weeks to process applications, and in those weeks the price of Bitcoin could go up fifty percent.
Farris Massey started investing in the digital currency about a year ago. He frequently buys from machines and he said they speed things up by allowing anyone to start "flipping currency without the middleman."
The machines connect to an app on your phone and let you make an instant investment. Right now there are more than 50 of these machines across the state. A handful of Austin businesses have installed these machines, including the Central Texas Gun Works, which actually allows you to purchase guns with bitcoins.