During our attendance at the Bitcoin Expo 2015 in London last week, we met a whole lot of interesting people and startups. Some of them were based in the digital realm but others were presenting physical items. One of these companies was Vaiex, which is a name that will probably be unfamiliar to most Bitcoin enthusiasts out there.
The main goal of Vaiex is to make cryptocurrencies easy to access for everyone. Vaiex will be implementing this by creating a cryptocurrency exchange, which is currently in development, and using ATM’s. While working hard on their exchange they are currently using every opportunity to install Bitcoin ATM’s in London. This will help to expand the existing network of Bitcoin ATM’s into global financial centres such as London. These improvements to the Bitcoin infrastructure will benefit everyone that want to use Bitcoin, even if they are novices.
At the congress we had a lengthy talk with Mr. Vitali Goubski, co-founder and COO of Vaiex. “We have opted for a Lamassu ATM because it is very easy to use; it has excellent security measures and received awards for its beautiful design. You can have Bitcoins in your wallet within a matter of minutes, and all with just 3 easy steps! All you will need is your wallet address as QR code for the machine to scan and send the coins to. If you do not already have a wallet, you do not have to worry. You can create one on the Blockchain wallet for both iOS and Android phones. The ATM does not have any intrusive AML procedures, which speeds up and simplifies the whole buying process.
During our conversation Mr. Goubski told us that they have already an operational ATM in London. This ATM is located in a shop called Hemsai Food and Wine. This shop is situated inside the Liverpool Street station, which is located in the heart of London itself. Mr. Goubski said that they already had over 300 transactions on that particular machine and that they are looking for another location to set up another ATM.
Now for those who do not know what Lamassu is, we did articles about Lamassu in the past; but we will refresh your memory anyway. The company Lamassu was created in 2013 by the brothers Zach and Josh Harvey. Their base of operations is located in Manchester, England; which is a positive location for Vaiex, because shipment of the ATM will not be too costly.
The Lamassu ATM’s provides a two way fiat currency/Bitcoin exchange option. Usually we see Lamassu ATM’s consisting of a top section and the bottom section. This means that people can go to a Lamassu ATM with their fiat in hand and buy Bitcoins directly from the machine. If someone wants to sell their bitcoins for fiat that is also possible, as the Bitcoin ATM can “spit out” fiat currency bills.
For the current market development and atmosphere, the whole package, both top and bottom piece, is more advisable. It may cost a bit more in the short term but in the long term it will generate more traffic and interest of the general public. There are also people/merchants that order only the top of the ATM, which is their choice of course.
Suffice to say that it is good to see new ATM’s getting placed, especially after the dismal start of 2015 concerning the Bitcoin price and the negative press Bitcoin received. This new placement shows everyone that Bitcoin is still going strong and that the development and adaptation of Bitcoin as “the other payment option” is continuing on a fairly rapid pace.
We at CryptoArticles wish Vaiex, and Lamassu of course, all the best in their business ventures.
If our readers have any ideas about where to put an ATM, you can submit them at: firstname.lastname@example.org
For more information about Lamassu’s ATM’s: https://lamassu.is/