It comes as welcome news for Ireland as Bitcoin takes its first steps in the country. With the first ever Bitcoin ATM to be installed in the Cardiff City Centre, it comes as a landmark achievement with the ATM being the first of its kind in Ireland.
The following announcement was released by bitcoin wales which provided details on where how and when the ATM is going to be launched. Satoshi Point is the main sponsor for the ATM in Ireland and with it already having gained lots of experience from operating a whole network of Bitcoin ATM’s in the UK it may as well be a matter of time till a network is present in Ireland.
Bitcoin Wales, in association with Satoshipoint.co.uk – The UK’s largest operator of Bitcoin ATMs – is pleased to announce that Wales is to get its first Bitcoin ATM.
We also discover how the machine will be located in a prime area namely the Cardiff City centre. This will not only increase the exposure of Bitcoin but will also allow for easy access as the population of Bitcoiner’s rises in Ireland. With a afterparty also organized it is hoped the launch of the Bitcoin ATM can go off with a bang.
The machine will be located at FoundersHub in Cardiff City centre and will allow people to conveniently buy or sell bitcoins for cash at competitive rates.
This is an exciting development for the local Bitcoin community and to celebrate we will be holding a launch party/meetup on Friday 27th February from 6.30pm.
However some speculators imagine another Bitcoin ATM to be just as detrimental to the Bitcoin industry as all the rest. With the Bitcoin ATM providing an easy route for purchasing and selling Bitcoin, there could be a influx of new money to stabilize a currently unhealthy market or an influx of Bitcoin waiting to be sold, in which case the ATM may be used by those simply fed up with Bitcoin and ready to go out and exchange every single one. The question of security also comes to mind as the security promised by the ATM’s may not be all its scratched up to be. With even the biggest of exchanges succumbing to hackers, will these ATM’s be able to fight a growing war ?
Ireland ATM Vulnerable ?
As highlighted by the recent spate of Bitcoin atm thefts, the ATM in Ireland is also subject to being stolen as the technology used in these machines may be simple , but the machine can be sold on the black market for a nice sum of money. With one of Mr Bitcoins ATM’s already reported stolen, it seems as if the machines are valuable as scrap, the circuitry can easily be parted. However this also proves another challenge for the Bitcoin ATM in Ireland as the machine can easily be vandalized by people on late nights out as it is in the city center. Many also complain of the problems that Bitcoin can bring on, such as the higher fee and usability issues which prevent new Bitcoin users from jumping on the boat. Whilst vandalism and theft may plague the new Bitcoin ATM, it is hopeful this ATM will bring the Bitcoin spirit to Ireland which is one of the latest countries to be hit by the Bitcoin ATM fever.
If you liked this article, follow us on Twitter @btc_feed and make sure to subscribe to our newsletter!