Europe is still lagging behind when it comes to Bitcoin adoption and awareness, but that doesn’t mean there is zero interest in digital currency. In fact, we see several new countries installing Bitcoin ATM’s for the very first time, such as Italy and Portugal. Despite the United Kingdom being known for very tight banking relationships when it comes to Bitcoin, several Bitcoin ATM’s are in operation there as well. And Wales just got their very first machine installed a few days ago.
Cardiff – Capital of Wales And Home of the Country’s First Bitcoin ATM
When choosing a location for a Bitcoin ATM, there are several factors to keep in mind. One of the most important aspects is accessibility, as the machine needs to be installed in a place with plenty of foot traffic. After all, you want to avoid people having to go out of their way to find the Bitcoin ATM at all costs, let alone use it themselves and telling their friends and family about it.
A country’s capital city is always a good place to start, and Cardiff will be hosting Wales’s first Bitcoin ATM – located in the FoundersHub in St. Mary Street. Up to this point, it remains unclear as to which manufacturer has been chosen for this Bitcoin ATM, but we do know that will be a two-way machine. In saying so, we mean that users can exchange GBP for Bitcoin, and Bitcoin for GBP.
“Bitcoin is used as a currency first and foremost. It’s a payment system. The process is very simple. If you want Bitcoin you go up to the machine and type in how much you want to buy and put the cash in the money slot,” Bitcoin consultant James Hewson told CryptoArticles.
Bristol’s Bitcoin ATM Success
James Hewson decided to get a Bitcoin ATM installed in Cardiff after hearing about the success of Bristol’s Bitcoin ATM, which was installed by one of James’ friends about six months ago. The machine in Bristol managed to process 250 transactions – worth 38,000 GBP – in just one month, which just goes to show how interested people in the UK are about Bitcoin.
Bristol’s Bitcoin ATM is located at The Best Supermarket, 82 Stokes Croft. One of the major reasons for its success is because the Lamassu Bitcoin ATM is accessible 24/7 , 365 days a year. Most Bitcoin ATm’s in the UK are located inside a pub or a shop, which are only open during certain periods of the time, and most of which are only accessible a few days a week.The Bristol Bitcoin ATM is a one-way machine, which allows users to buy bitcoin with GBP.
Cardiff’s Bitcoin ATM Launch Party
“This is an exciting development for the local Bitcoin community in Cardiff and we will be holding a launch party on Friday, February 27, at FoundersHub from 6.30pm. As well as being able to try out the machine there will also be a selection of short talks from various members of the group and opportunities to ask any questions you may have about any aspects of Bitcoin or related technologies.” – James Hewson
It is interesting to note this Bitcoin ATM is specifically tailored to customers with a mobile Bitcoin wallet, as there is no specific mention of the machine being able to print out a paper wallet at this point. According to Mr. Hewson, the amount of Bitcoin a customer wants to purchase will be directly sent to a mobile device if the customer has a Bitcoin address.