week in three different locations: Toronto, Brampton and Etobicoke. All ATMs were launched in the branches of Hasty Market,
a popular chain store in Canada.
We are pleased to announce that we have added Ethereum support to all of our Bitcoin ATMs in Toronto and GTA. We are the first suppliers of Ethereum -ATM in Toronto.
Using LocalCoinATM ATMs, users and investors can easily buy and sell Ethereum for fiat money. Just as Bitcoin ATMs work , Ethereum ATMs show the Ether deposit address for sellers, and from customers require entering their Ethereum wallet address to purchase Canadian currency crypto currency.
Is Ethereum similar to Bitcoin? Well, sort of, but not really.
Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online Bitcoin payments. While the bitcoin blockchain is used to track ownership of digital currency (bitcoins), the Ethereum blockchain focuses on running the programming code of any decentralized application.
In the Ethereum blockchain, instead of mining for bitcoin, miners work to earn Ether, a type of crypto token that fuels the network. Beyond a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the Ethereum network.