There have bee enough meet ups, discussions and debates on the Bitcoins. However, there are some people who still
remain unaware about this currency.
Bitcoin is an Internet based medium of exchange. Think of it as another type electronic currency. The Internet is required to use Bitcoin.
UAE has been quite fast in adapting this currency by launching the country’s first Bitcoin ATM last month to promote its wider use in the relatively untapped Middle East market.
Located in an office in Dubai Media City, the kiosk allows people to deposit cash into their Bitcoin wallet (the name for their virtual account).
Umbrellab, the start-up that is developing the technology, aims to integrate the technology into 300 existing electronic service kiosks it already operates in shopping malls, supermarkets, hotels and labour camps.
Below is an interactive infographic that gives details about this currency.