First ever bitcoin ATM to open in Vancouver this week

The world's first publicly-available bitcoin ATM is set for release this week in Vancouver, Canada.

Vancouver bitcoin trading company Bitcoiniancs has ordered five of the ATMs from Nevada-based RoboCoin. The final destinations of the other four kiosks are expected to be Calgary, Toronto, Montreal and Ottawa.

"Basically, it just make it easier for people to buy and sell bitcoins and hopefully will drive the adoption of bitcoin, and make it more accessible for people," said the owner of Bitcoiniacs Mitchell Demeter.

The CEO of RoboCoin's goal is to "make bitcoin truly grandma-friendly."

Bitcoin investors are hoping that the currency can repair the damage from the recent shut down of online black marketplace 'Silk Road', a site that relied heavily on bitcoin to protect the identities of its buyers and sellers.

Bitcoin has been on a hot streak over the past couple of weeks, currently trading at just over $200/coin.