Cambridge residents can finally replenish their digital wallets without crossing the river.
The machine is located on the second floor of the Clover Food Lab restaurant at 7 Holyoke St.
Liberty Teller co-founder Chris Yim said the company’s first bitcoin ATM in South Station has been popular, drawing more than 500 customers in less than three weeks. And, he said the company has received “many requests” to install a machine in Harvard Square.
Ayr Muir, CEO and founder of Clover Food Lab, said Yim, a fellow MIT and Clover fan, approached him about the idea of setting up a bitcoin ATM in his establishment.
“He asked if we would help him out with a little experiment to see if a high-traffic fast food restaurant like ours would be a good site for one of the first bitcoin ATMs in the country,” Muir said in a statement. “We’re giving it a go and we’re excited to see what happens.”
The machines allow bitcoin users to insert cash to buy new bitcoins on an exchange.
As of Tuesday afternoon, both of the local bitcoin ATMs were down for maintenance, the company said on its website and Twitter account, @libertyteller.
Bitcoin, a five-year-old, controversial Internet currency, has been unstable. It is accepted at a small, but growing number of retailers.
State officials have issued a warning about bitcoin to consumers, saying there are “high-financial risks involved” with using the young, volatile currency, BetaBoston reported.
The cautionary note came after the largest bitcoin exchange, Mt. Gox, shut down last month “resulting in hundreds of millions dollars’ worth of lost bitcoins,” state officials said.