Despite bitcoin’s severe volatility and several alarming incidents (including the collapse of Mt. Gox, a major bitcoin exchange based in Japan), the demand for bitcoin continues to grow. This interest in bitcoin extends to Malaysia, and a Singapore-based company called Numoni Pte Ltd just launched the first bitcoin automatic vending machines (AVMs) in Malaysia. The machines are based in Bangsar Shopping Centre in Kuala Lumpur and Gurney Plaza in Penang. This follows the launch of the first bitcoin ATM in Singapore, which happened in February 2014.
Essentially, the bitcoin AVM lets you deposit physical money in exchange for digital bitcoins. The bitcoin AVMs accept 22 types of currencies. When you deposit an accepted currency and the machine reads your QR code, you will receive an equal value in bitcoins credited to your bitcoin wallet.
The CEO of Numoni, Norma Sit, said, “While different countries are deliberating over the acceptance of bitcoin, bitcoin remains in demand. The Numoni bitcoin vending machines enable the general public to participate in buying small amounts of this crypto-currency that is seen in many countries as an international voucher that can be used to barter for goods online.”
“Numoni is especially pleased to launch our machines in Malaysia as the machines are assembled in Malaysia in our Senai factory. The machine was fully developed by Numoni in Singapore since 2012.”
Numoni has grand plans for even more bitcoin AVMs in Malaysia. He hopes to launch another eight this year and have up to 100 in bitcoin AVMs in Malaysia within three years.
Clearly, Numoni is very confident about a world where bitcoin is a common medium for transactions. It seems time will ultimately tell if he’s right.
Would you use the Bitcoin AVM if it were near you?
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- Malaysia’s Central Bank Issues Caution Against Bitcoin
- Bitcoin in Malaysia: What You Should Know
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