There have been two beta versions of these ATM:s in real life testing at the center of Helsinki, Finland. One of them is in a bitcoin accepting restaurant and another one in 24h kiosk. So far there haven't been any major problems, and minor ones have been carved out during the testing process. If you are visiting Helsinki, you can find those ATM:s from here, and here.
Expect to see more of these ATM:s soon, since we are getting our first production batch out soon, and we are putting one of them on the bitcoin tour, held by Finnish bitcoin company Bittiraha.fi. They will be driving around Finnish archipelago and testing how well Localbitcoins bitcoin ATM performs on the road.
Eventually you will be able to purchase these ATM:s directly from Localbitcoins website. The price is not fixed yet, but we aim to 2000 € price.
Specifications of the ATM
Buying process: Buyer feeds banknotes to the machine, and gets a secret code in return. The code is used to claim the corresponding amount of bitcoins to your localbitcoins.com account. The exchange rate is defined at the moment the code is used.
Selling process: Seller logs in to his/her localbitcoins account, and goes to the URL of the ATM he/she aims to use for withdrawal. The seller selects the amount he/she wants to withdraw from a dropdown menu. After selecting the withdrawal amount, corresponding amount of bitcoins are reduced from the seller's localbitcoins wallet and the user will receive a code, which is given to the ATM through the keyboard. After the code has been inserted, the ATM will give corresponding amount of notes to the customer.
Capacity: With the first model, note recycling unit can hold 30 bills. Next gen. models will have bigger capacity.
Accepted bills: All banknotes where the size is inside of the range (width) 60-82 millimeters, and (length) 115-150 millimeters. The device can accept 6 different kind of bills from the selected currency. The device can be programmed to handle almost any known currency, but only one can be used at the time.
Size(w/h/d): 318 x 340 x 264 millimeters
Display: 87.3 x 41.8 mm one color lcd display
Weight: 15 kg