Bitcoin is a new type of currency that offers 3 main benefits:

1. Instant transfers to anywhere in the world (vs. 3-5 business days for a domestic ACH transaction)
2. Virtually free to send (vs. 3-4% for credit cards and $25+ for wire transfers)
3. Almost infinitely divisible (divisible into 100 million parts vs. 100 pennies per dollar)

In other words, bitcoin are as cheap as cash, as fast as a credit card, and will open up the possibility for micropayments.

“Virtual currency, particularly bitcoin, reminds me so much of that time in the early ’90s…we are at beginning of an exciting time, not just for investors but for all of society.” - Fred Wilson, leading venture capitalist

“We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers. As a medium of exchange, Bitcoin has clear potential for growth, in our view.” - David Woo, leading Wall Street currency expert

“We’re believers in [bitcoin].” - David Marcus, President, Paypal

“A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research…what technology am I talking about? Personal computers in 1975, the Internet in 1993, and - I believe - Bitcoin in 2014…Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system in ways that are more powerful for individuals and businesses alike.” - Jan 2014, Marc Andreessen, leading venture capitalist and creator of the first internet browser (see the whole article here)

Over 60,000 merchants currently accept bitcoin, including Overstock.com, Dell, TigerDirect, and EBay (UK), and that number is growing rapidly. Find a more comprehensive list of businesses that accept bitcoin here, and local businesses that accept bitcoin here. We spend bitcoin whenever possible, as we find it easier than credit cards or cash.

Four simple steps:

1. Get a Liberty Teller plastic wallet at our machine
2. Scan your wallet’s address QR code
3. Insert cash
4. Receive bitcoin!

For step 1, you may also create a digital wallet by using blockchain.info and then downloading the blockchain.info (Apple or Android) or Mycelium (Android) app. A digital wallet will be necessary for spending the bitcoin you buy at our machine.

We plan to soon offer an automated process for selling bitcoin. Until then, here are a few alternatives:

• Localbitcoins (Craigslist for bitcoin)
• Online exchanges

We recommend BitPay. They allow you to automatically convert to USD, so you do not have to take any currency risk, and they charge only 0-1%.