Soon, adopters of the much-touted yet highly-confusing new currency 'Bitcoin', will be able to convert their digital dollars to Australian hard currency from the convenience of an ATM.

A new company called Australian Bitcoin ATMs is aiming to do just as its name implies – rolling out 100 Bitcoin ATMs from Mullumbimby to Manjimup.

The ATMs will allow users to convert the phenomenally popular decentralised form of money into the more accepted, handily-tangible traditional currency – and vice-versa.

Australian Bitcoin ATMs CEO Chris Guzowski explains the new method of trade.

“You can type in how many Bitcoins you want to sell, then our ATM goes onto an overseas Bitcoin exchange and executes that transaction for you and will spit out the cash for which you sold the Bitcoin for. And the opposite also applies, so you can put cash in and purchase Bitcoin,” Mr Guzowski says.

David Glance from the University of Western Australia’s Centre for Software Practice says while cryptocurrency is hailed as the way of the future by many, its ubiquity is not yet assured.

“I think that until you see the National Australia Bank or the Commonwealth or one of the major banks getting behind the currency, providing simplified access to it, I think it's always going to be a niche,” Dr Glance told the ABC.

“In the US they're currently going through some discussions about the regulation of Bitcoin exchanges. We haven't really got there as such in Australia. This has been the problem with sites going out of business or people just shutting up shop - it quite often leads to people losing their investments.”

“I think most Bitcoin adopters so far have been aware of the risk associated with purchasing the digital cryptocurrency.”

At the time of publication the value of a single Bitcoin was over $950 from most Australian providers.