First bitcoin transaction machine arrives in San Francisco

SAN FRANCISCO (KGO) -- The first bitcoin transaction machine has arrived in San Francisco. It's set up at the Workshop Cafe in the city's Financial District.

Bitcoin is an Internet-based currency. It isn't run by a country or central bank, it exists entirely online.

The machine allows users to buy and sell bitcoin using actual money.

The cafe's owner, Rich Menendez, explained why he signed on for the machine.

"But it's also the first bidirectional bitcoin machine in the U.S.," he said. "Meaning you can buy and sell bitcoin in this machine. And super excited because it's just so innovated, so tech forward."

Right now, the coffee shop doesn't accept bitcoin for a latte. But Menendez says the company is working on it.

Mountain View was home to California's first bitcoin ATM. That machine made its debut earlier this year.