Meet EBTM , Belgium’s Two-way Bitcoin ATM

EBTM (European Bitcoin Trading Machine) is a Bitcoin ATM company created in 2013 by founding members of the Belgian Bitcoin Association. EBTM is a registered SPRL, with number 0548 727 812. Finding a location for a Bitcoin vending machine is not as easy as you might think.

After receiving some location suggestions, it was decided to have it installed in Coffeelabs building on the ground floor. For more details on the location, click here. The EBTM machine installed here is a two-way Bitcoin ATM, the only one of its kind in Belgium.

There are plans to create a network of ATMs in order to become a remittance market. Other manufacturers are signing agreements with other companies, where you could sell BItcoin between machines and receive fit in exchange, at a slightly lower rate (such as RoboCoin).

EBTM machines cost US$10,000 and there is a 5% fee per transaction. All of the maintenance and software updates are coming from Canada. It’s not as easy as plugging in the machine and it works, a lot of hard work is going into it.

EBTM is currently working with Bitstamp, but the search for reliable markets will continue. BitFinex could become an interesting partner, as they apparently have more liquidity than Bitstamp, according to one of the attendees at the meetup.

Note from the author : We will look into BitFinex’s liquidity this week, and compare it to Bitstamp

There is a 100 euro limit per day without verifying your ID. If you want to purchase or sell more, there is a 3,000 euro limit per day and you need to scan your ID or driver’s license. Scanning your ID seems to work best, and both sides need to be scanned. The ID verification process is being handled by Jumio, who are specialized in these kind of things.

In case the user doesn’t have a Bitcoin wallet on them when purchasing Bitcoins, a paper wallet can be printed by the EBTM machine as well. It is advised to use the paper wallet within two months however, as it is printed on thermal paper, and the quality reduces after that period of time.

Website : http://www.ebtm.be/