As
Singaporeans we are excited to bring the one of the first Bitcoin
Vending Machines to Singapore. We think this groundbreaking technology
could flourish in Asia. Singapore is well suited as one of the freest
economies in world and Bitcoin itself brings freedom to its users. We
think Bitcoin Vending machines could become an essential part of the
Bitcoin infrastructure. We look forward meeting you out there in the
Bitcoin community!
What is Bitcoin?
Bitcoin is an innovative payment network and a new kind of money – Bitcoin.org
If you wonder what Bitcoin is, there is an excellent guide on bitcoin.org. There you can also read the Bitcoin white paper by Satoshi Nakamoto.
Bitcoin
uses peer-to-peer technology to operate with no central authority or
banks; managing transactions and the issuing of bitcoins is carried out
collectively by the network. Bitcoin is open-source; its design is
public, nobody owns or controls Bitcoin and everyone can take part.
Through many of its unique properties, Bitcoin allows exciting uses that
could not be covered by any previous payment system.
Locations
The Vending Machines are available 24 hours a day, 365 days year round!
Find us in Central Singapore in Kreta Ayer/Chinatown.
532 Upper Cross St., #03-11, Hong Lim Complex, Singapore 050531 Direction to Worklor By MRT:
Downtown Line (Blue):
We are closest to Exit F of Chinatown Station on the Downtown Line.
Once you exit from the station, look out for the yellow car park
exit/entrance on your right. Look out for the flight of stairs to the
right of it with a "532" sign. Come on up the flight of stairs, we will
be right there on the 3rd floor!
If it is raining, you may choose
to exit via Exit E (Chinatown Point) to access Hong Lim Complex. Both
buildings are linked on the second floor. Please see more directions
below for Exit E. North East Line (Purple): Take Exit E
(Chinatown Point) and go to the second floor. Once you exit Chinatown
Point and come into Hong Lim Complex on the second floor, continue to
walk past the food centre on your left. Please walk straight until you
can turn right after #02-61 (the stationery store), continue until you
turn left at #02-11 (the frog clinic), walk up the stairs to the 3rd and
we will be right there!
By Cab:
Please
alight along Upper Cross Street, at the drop off point at the Downtown
Line MRT Station. Look out for the yellow car park exit/entrance on your
right. Look out for the flight of stairs to the right of it with a
"532" sign. Come on up the flight of stairs, we will be right there on
the 3rd floor!
By Bus:
Along Upper Cross Road: 51, 63, 124, 174, 174E, 186, 851, 961 and 970
Along South Bridge Road: 61, 80, 145, 166 and 197
Along New Bridge Road: 2, 12, 33, 54, 143, 147 and 190
Along Upper Pickering Road: 588 and 599
Driving/Parking Lot:
Parking
is available in Hong Lim Complex. Nearest parking level is 4A which is
connected to the 3rd floor. Walk to the South Exit facing Upper Cross
Street and turn left. We will be about 30 metres ahead.
Where Are We?
Please
note that the first four flours of blocks 532 to 538 are considered
block 531. We are at the part of Hong Lim Complex nearest to China
Square. We are in block 531 (right beneath block 532) of Hong Lim
Complex which is nearest to the junction of Upper Cross Street and South
Bridge Road or the "Sook Ching" Corner or where the UOB ATMs are
located. Look for the florist and go the nearest flight of stairs that
indicates block 532. We are right on the 3rd floor when you come up the
stairs.
Still lost? Please send us a message on Facebook.
Bitcoin Machine@Tiong Bahru PLaza
Find us in the heartlands right in Tiong Bahru!
Tiong
Bahru Plaza, 302 Tiong Bahru Road. First level opposite AXS machines
and photo booth near to the taxi stand. Behind Tino's Pizza.
Direction to Tiong Bahru Plaza By MRT:
We are right above MRT Station EW17 Tiong Bahru (Exit B) By Cab:
We
are just 1 min walk from the Taxi Stand of Tiong Bahru Plaza. Once
alight, walk towards the Money Changer and Tino's Pizza on your left. By Bus:
Along Tiong Bahru Road:
Bus Stop Number 10169 - Tiong Bahru Plaza
5, 16, 33, 63, 121, 122, 123, 123M, 195, 851
Bus Stop Number 10161 - Opposite Tiong Bahru Plaza
5, 16, 33, 63, 121, 122, 123, 123M, 195, 851, NR5 Driving/Parking Lot:
Parking is available in Tiong Bahru Plaza Where Are We?
We
are located opposite the AXS Machines and Photo Booth, which are near
to the Taxi Stand. Look out for the back door of Tino's Pizza. We are
right there.
Still lost? Please send us a message on Facebook.
Here's how it works...
When
you tap 'SEND BITCOINS' the Bitcoin peer to peer network will
immediately recognize that the transaction has taken place and within a
few seconds you will get an alert on your phone, it almost feels like
magic.
With Bitcoin you can literally be your own bank. You have
control over your money and you don't have to trust anyone else with
them, if you don't want to. You can choose to use any Bitcoin wallet you
like on your smartphone. Our favorite wallet is Blockchain.info/wallet but
that is only one of many. You can even use a printout paper wallet with
our machine. If you want to to do that you can go to bitaddress.org to generate the QR code - just remember to keep the private key safe. Whoever has the private key can spend the bitcoins.
Still got questions?
Our technical support team is ready to answer your questions. Email us at friends@bitcoinATMsg.com. We'll be in touch within 24 hours.
Bitcoin
represents the first technology to be able to transfer ownership
without a third party over a communication channel like the Internet.
This technology has the potential to disrupt the current financial
system.
Over the Bitcoin network payments are instant and near
cost less to anywhere in the world. It is a bit like going from mail to
email. Just like the Internet, Bitcoin is distributed in a peer to peer
network without and central authority. All code is open source which
means anyone can substantiate the validity of the technology.
'Don't
Be Evil' is the motto of Google, in this new paradigm it is being
replaced by 'Can't Be Evil' - with Bitcoin the trust is based on the
protocols, the white paper and cryptography not on an organization.
Asking if Bitcoin is a commodity, currency, payment protocol or a
platform is equivalent of asking if the Internet is email, telephony or
TV - the answer is, it is all of the above
What is the intrinsic value of Bitcoin?
Cars
have value because they have utility and are scarce, it is the same
with all things. Bitcoin has utility as a payment network that can
disrupt billion dollar industries. It is scarce since there will never
be more than 21 million bitcoins created.
Unlike Gold, Bitcoin can be divided into 100 millionth of a unit.
Unlike Gold, Bitcoin can be sent across the globe in an instant for virtually no cost.
Unlike traditional currencies, the government, nor anyone else, can't print more of it at will Is it secure?
Bitcoin gives power to the people, it also means that it gives people responsibility to keep their bitcoins safe.
It
is important to recognize that the theft you have heard of is not a
security breach of the system itself. The good news is that you don't
have to trust anyone.
The bitcoins everyone owns are stored across
thousands of computers in the peer to peer network. They are 'unlocked'
by your Private Key. You can let someone else hold your Private Key,
like an online wallet or exchange, or store it on your computer or print
it out and store it in a safe place. If you let someone else hold your
Private Key, you need to trust that they don't lose it, or in worst case
steal it.
What is Bitcoin mining?
Mining
is the process that keep Bitcoin secure. Hundreds of millions of dollars
have been invested in computers that are dedicated for Bitcoin mining.
These miners earn newly minted bitcoins at a pre-determined rate as well
as transaction fees How do I get Bitcoin?
You
can be paid by Bitcoin for example by freelance work, mine Bitcoin or
you can buy Bitcoin from an exchange, an ATM or an individual who wish
to sell to you. An easy and quick way is to use an ATM, we have a
machine located at 1 Raffles Link, Citylink Mall, #B1-K4 next to TCC (The Connoisseur Concerto) at shop #B1-26.
You can read more about Bitcoin on this site and there are links to more resources around the web under Need Help?
If you have any questions, please send us an email we will do our best to answer them.
The
first review we have seen of the Bitcoin Machines in Singapore was just
published. Although we love all the Bitcoin companies in Singapore (the
bigger the ecosystem, the better), we can't hide our excitement over
the outcome!
First week of operations
We
can't believe it has only been one week since we launched Asia's first
public Bitcoin Vending Machine, so much has happened since! We made a
lot of new friends here in Singapore and around the world. Newspapers
and media wanted to talk with us. We had our new friend Wei En help us
handle customers at our machine while we were working hard to improve
our up-time (just today we made a new improvement that we hope will
solve most of our issues!). We kept busy on Facebook and Twitter and on
email.
On the day of launch, Mt. Gox, stopped all Bitcoin
withdrawals and later filed for bankruptcy (by the way, this is main
reason why we think you should be in charge of your own bitcoins, not us
or anyone else). This week we had a tragic event in Singapore that
media wrongly associated with our company. What a roller coaster! It is
sure never boring in Bitcoin land....
Thank you so much for all your support during our first week - we love you!
We
promise to continue to work hard to improve the experience further and
move Bitcoin in Singapore (and surroundings!) forward and upward.
Below some snapshots from the first week of operations. The picture of the world's first Bitcoin queue went viral
Zann getting interviewed by Channel U
Our beautiful Bitcoin machine standing at CityLink Mall
David showing the world a great way to use our Bitcoin machine.
Singapore-based Bitcoin Exchange launches Bitcoin Vending Machine at Citylink Mall
- Asia’s first Public Bitcoin Vending Machine - The Company is Asia's first operator of Lamassu Bitcoin Vending Machine
Singapore,
28 February 2014 – Singapore-based firm Bitcoin Exchange Pte Ltd
(“Bitcoin Exchange” or the “Company”) today launched Asia's first public
Bitcoin Vending Machine at Citylink Mall at 1 Raffles Link. The Company
is the first operator in Asia for the Lamussu Bitcoin Vending Machine.
The
availability of Bitcoin Vending Machines has been making waves
globally. This launch is a significant development in Singapore which
has a fast-growing Bitcoin community. This will contribute to the growth
of merchants accepting bitcoins as a form of payment.
“We
are glad to be Asia’s first operator for the Lamassu brand of Bitcoin
Machines. This user friendly machine allows bitcoin buyers to convert
cash to bitcoins in less than 15 seconds. The Bitcoin community in
Singapore is growing rapidly and bitcoin is an attractive payment option
for e-commerce and in storefront shops alike. Bitcoins users do not
have to pay financial intermediaries like banks transaction fees. This
translate to cost savings for consumers. We are happy to bring this
potentially groundbreaking technology to Asia and Singapore,” said Ms
Zann Kwan, Executive Director of Bitcoin Exchange.
Located
in basement one (#B1-K2) at Citylink Mall, the Bitcoin Vending Machine
scans a Bitcoin QR code and send bitcoins to the users Bitcoin wallet,
which could be a mobile wallet or a printed paper wallet.
Bitcoin Exchange has plans to install more Bitcoin Vending Machines by the end of 2014 at public venues with high traffic flow.
“We
are Bitcoin lovers and truly committed to building up the community in
Singapore and the region. Our strategy is therefore to remain
independent and place our Machines at public venues to heighten the
access of Bitcoins,” added Ms Kwan.
The Company is also exploring opportunities to bring the machines to neighbouring countries in South East Asia.
"Bitcoin
price volatility has been high, however as adoption grows and the
technology matures, most people expect the price swings to moderate,"
according to Ms Kwan. There will be a launch party on site today at 7pm.
The media and public are welcome to try out the machine. The first 50
users will receive S$5 in cash and a paper wallet as a way of
introducing Bitcoin to Singapore. For media, please kindly contact Zann
Kwan at zann@bitcoinatmsg.com for your attendance.
This project is made possible with the help of Hongkong Land, the Lamassu team, and the Singapore Bitcoin community.
For
media inquiries, please contact Zann Kwan at zann@bitcoinATMsg.com. For
all other inquiries, please contact us at friends@bitcoinATMsg.com.
In the last 24 hours, 3 Bitcoin ATMs have gone live and 1 more is set to launch tonight in Singapore!
UPDATE: 6 now live!
Why I think this is cool:
An ATM is a great way to spread the word about Bitcoin. People who may not have otherwise had any idea about Bitcoin will now see the machines as they are walking home from work or getting a coffee at school. For small amounts, $2, $10, even $50. it’s a fun way toturn fiat into Bitcoin. It will also be useful for people who may not have a bank account to get Bitcoin and then do small scale remittances.
For larger amounts, and for the sake of convenience, I think businesses like Coin Republic and exchanges will be used. It’s much simpler to transfer $1000 via iBanking, and have your Bitcoin sentto your wallet than going to one ATM, getting $1000 in cash, then going to another ATM and converting that cash into Bitcoin.
If you want to give an ATM a try (I did, bring your mobile wallet):
Pic n Pixel Singapore Pte Ltd, 109 north Bridge Road, 04-16 Funan Digitalife Mall Singapore 179097.
Tembusu has a machine at Spiffy Dapper: 61 Boat Quay 2F.
Bitcoin Exchange is launching their machine tonight at Citylink Mall, B1-K2, 7pm
Numoni at SMUTembusu at Spiffy DapperNumoni at Sim LimBitcoin Exchange – CityLink Mall
Best Sites to Buy Bitcoin
November 2017
Bitcoin is an encrypted decentralized digital currency
transferred between peers. Here is our extensive list of reviews on the
top Bitcoin Brokers and Exchanges, our guide will help you find the best
sites to buy Bitcoin.
Register
an account with LocalBitcoins. You get a free and secure online bitcoin
wallet. No additional apps are needed. If you already have an account,
skip to the next step.
Step 2.
Go to the main page
and in the search box fill in the form with the amount you want to buy
in your currency, your location and choose a payment method. If you're
unsure how you want to pay, choose "All online offers" as your payment
method. The site will list bitcoin traders available in your region.
Step 3.
From the list of
advertisements, choose one from a trader with a good reputation score
and a high amount of trades. The response time indicator shows if a
trader replies within five minutes (green), within 30 minutes (yellow)
or slower than 30 minutes (grey). You can click the 'Buy' button to view
more information about an advertisement.
Step 4.
After you press the 'Buy'
button you'll see more information about the advertisement, including
the terms of the trade. Read through them before submitting the trade
request, if you don't agree with them you can go back to the previous
page and choose another advertisement. To start the trade, type in the blue box how much you want to buy, enter a message for the seller and click the Send trade request button to the start the trade. Be sure you're ready to pay when clicking the button, if you don't pay before the payment window is over, the trade will be automatically cancelled.
Step 5.
Once you have made the payment, click the I have paid
button. Once the trader has verified that your payment has been
received your Bitcoin will be released from escrow and they are
instantly available in your LocalBitcoins wallet. And that's all there is to it, congratulations on your first Bitcoin trade!
Zann getting interviewed by Channel U
Zann getting interviewed by Channel U
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