Bitcoin To Open First ATM In The Middle East In Tel Aviv

June 10, 2014 | According to reports, the peer-to-peer virtual currency bitcoin will be opening its first ATM in the Middle East in Tel Aviv, Israel tomorrow (Wednesday). The new ATM machines built by American company Robocoin will turn virtual bitcoins into cash, with a number of security features built-in to prevent fraud and theft. The bitcoin virtual currency system was created in 2009 by developer Satoshi Nakamoto and is controversial for removing traditional methods of monetary standardization that require all funds go through a central repository or administrator.