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Diamond Circle Lauches Bitcoin ATM

Diamond Circle maker of the worlds first cashless Bitcoin ATM kiosk has now installed their machine at the Bluff Café, Burleigh Heads, by the famous Gold Coast’s Surfers Paradise, in the state of Queensland Australia.
The account opening process dispenses Bitcoin Debit Cards which contain a Bitcoin wallet in industry format. The cards cost $5.00 and customers can purchase Bitcoins at the same time using their Credit card. The machine also allows returning customers to Top up their card and check their crypto balances in under 5 seconds. The Diamond Circle Bitcoin Debit Cards are linked to a credit card at local exchange rates for instant purchases everywhere
The process is easy for the general public and thrifty travellers who want to only exchange once. Unlike other Bitcoin ATM’s, the machine only supports Visa and Mastercard for the purchase of Bitcoin and cards thus, reducing security threats, the cost of holding cash, thus increasing margins and ongoing residual payments to distributors and owner/operators. The system has technology and a process that reduces the risk of chargebacks on the company and AML/KYC processes are variable by region ($5,000 in AU per customer requires no KYC). The machine accepts retail barcode scanners which allow consumers to check out purchases without operator assistance.
The company advised that an additional feature to perform remittances are in the works. The money transfer option will allow Bitcoins to be sent to anyone for cashing out via SMS. The NFC debit cards are Apple SDK capabilities dependent on iPhone 6 which has NFC. They work like Bank PayWave. The company also plans to sell card readers which can be used at Gas stations, parking meters, mass transit including taxi cabs and by the local trader without a cash risk.
Now that Diamond cards are in circulation, consumers are wondering where they are accepted. The company will now begin work on their point of sale applications which will allow purchases, buy/sell Bitcoin and balance checking from a range of NFC enabled devices such as Android phones, online gateways and corporate wallets and was therefore awarded Gartner 2014 cool vendor of the year award. 


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