HOUSTON, Texas - Houston likes doing things first, and today the George R. Brown became the first convention center in the world to receive a Bitcoin ATM.
Bitcoin is a digital currency, unregulated by any governments or banks. This means things like high transfer fees or frozen accounts are a non-issue.
The value of a Bitcoin changes pretty often.
Mark Goldberg, Asst. General Counsel for Houston First, says, “The exchange rate of a Bitcoin changes almost by the minute. Earlier today it was about $350 for a Bitcoin. I’ve seen it change within a couple hours to $390 to almost $400.”
And with companies like Dell, PayPal, and Overstock.com now accepting Bitcoin as currency, the growth of Bitcoin is pretty likely.
This new ATM will allow foreign visitors, or even Houstonians interested in currency exchange, to travel without having to carry any cash on them.
It`s secured by a digitally rotating authenticator on your mobile phone, that makes sure you`re the person logging in to the ATM terminal. You can exchange up $9,000 a day, at a much lower transfer fee than you would otherwise.
While this ATM is the first of it`s kind in the city, talks are in the works with Houston airports to make it even easier for international travelers to spend their hard earned money right here in Houston, digitally or otherwise.