PA’s first Bitcoin ATM comes to Lancaster

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New money is coming to Lancaster: Bitcoin is a digital currency that's gaining traction in the U.S. and now you can use it to buy a sandwich at Four54 Grill.

The new Bitcoin ATM there is the first one in Pennsylvania.

"I think it's too cool a little Mom-and-Pop sandwich shop has cutting-edge technology," says owner Leigh Menkes.

At the Coin Outlet ATM you can buy Bitcoins, or exchange them for cash.
The CEO of Coin Outlet, Eric Grill, is from Lititz. He knew he wanted to put one in Lancaster.

"Even just in the last year, the adoption rate has really taken off," says Grill.

Bitcoin is digital money. Proponents say it's a currency that protects privacy. There's no bank involved. They're bought online in internet marketplaces. Users don't even need to give their real names.

"You're not providing your credit card information that somebody can steal, you're pushing that information, you're transacting and giving it to them but they can't pull from you later," says Grill.

Critics say the value of Bitcoin is always changing. Right now, one whole Bitcoin is equal to about $400. But it reached its highest value ever last year.

Four54's owner says he's willing to bet on its future.

"I have a couple dollars right now of them, but I will have more," says Menkes.


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