There is some exciting news occurring in our Fridley, Columbia Heights, Coon Rapids, and Brooklyn Park, Minnesota stores. At Your Exchange, we are now offering Bitcoin ATM’s. Bitcoin ATM’s is the future of online transactions and online money. Bitcoin ATM’s is a virtual currency that is expanding and growing in popularity all over the world. And so, we are excited to announce that Your Exchange will now be a part of that growth, we have added the first Bitcoin ATM’s in Minneapolis!


What are Bitcoins? 
As stated above Bitcoins is a form of virtual currency where all transactions are taken place online. Your Bitcoins are stashed in an online “wallet.” Your account and wallet are set up through a third party. It is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank, according to Wikipedia.

How does Bitcoin ATMs work? 
Unlike cash ATM’s, Bitcoins are all virtual. There are no cash withdrawals. Money can be converted in Bitcoins very easily and can reduce the world's friction of converting currency of all countries. The interface of a Bitcoin ATM is similar to cash ATM’s, making it familiar to all users. First, the machine will scan identification for verification. The scan can be done by fingerprint or face. Once, the verification is made you can make transactions via the machine all electronically. You can feed the machine your cash and then it will generate a QR code (a large square of black and white pixels). Then the user can send the Bitcoins to the presented address.









There are many benefits to the Bitcoin ATM’s such as: 

  • Bitcoins makes money transfer easy, affordable, and quick.
  • Security is high with Bitcoin ATM’s because they are usually monitored by known operators with established business entity.
  • The transfers are in real-time, which removes the risk that the value of the Bitcoin will decline before it is deposited in the buyer’s account.
  • They are the future of currency.

Now, that you have learned about the Bitcoin ATM system, it’s time to test it out. There are only a number of them in the United States and lucky for you, if you live in Minneapolis or St. Paul Minnesota, you can be the first to experience the future of money. Stop by our Brooklyn Park, Columbia Heights, Coon Rapids or Fridley locations to learn more.

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