There is a lot of focus on Bitcoin ATm’s these days, not only because they can generate quite the chunk of revenue but also whether or not they are useful for everyday consumers. Satoshi Point, the UK’s leading network of Bitcoin ATM’s, has expanded their services to Swansea in Wales.
Satoshi Point has installed a brand new Bitcoin ATM at Café Nisse, located on Wind Street [below TechHub Wales] in Swansea. In doing so, Café Nisse becomes one of the very first brick-and-mortar locations to experiment with Bitcoin. Furthermore, this allows any of Café Nisse’s customers and employees, as well as TechHub businesses to make payments using this disruptive digital currency.
“I am very excited to be opening up to new methods of payment and attracting a wider catchment of customers who may be intrigued and excited by payment using Bitcoin.”
– Tino Dzaro, Owner of Café Nisse
The good news for Satoshi Point keeps trucking on by the look of it after the young company turned over 38,000GBP in one month in 2014. In fact, there are already plans in motion to bring additional Bitcoin ATm’s to Wales during the remainder of the year, as there is a growing interest from potential investors.
“It’s a new paradigm in money. Organisations of all walks see benefits from opening up to Bitcoin; for example, the RNLI obtained £2,000 in donations in the first 24 hours of adopting Bitcoin payments. I’m keen to see an expansion further into Wales with the aim of seeing a Bitcoin ATM in every town and city in the country.I believe Bitcoin will be the future of internet money, person-to-person instant transactions of any value for a penny, setup in under a minute,” Hassan Khostaghaza, Managing Director of Satoshi Point told BTCFeed.
The Curious Case of Bitcoin
Given the borderless nature of Bitcoin transfers – it’s the same currency anywhere in the world and is not regulated by governments or financial institutions – transferring money to anyone else in the world takes mere minutes and comes with very low to non-existing fees. Not only is this a great way to counter the current money remittance model, but it also has another major benefit.
Bitcoin is far more suitable for micropayments and microtransactions, compared to credit cards – which were never even intended to be used on the internet, and the lack of credit card security during online shopping shows you exactly that. On top of that, micropayments with credit cards are subject to ridiculously high fees, which is not financially viable for either the consumer nor the merchant.
Regardless of how you look at it, Bitcoin is becoming more and more of a global force that can no longer be denied. However, there are still plenty of people who have never used Bitcoin or even been educated on it [in a proper manner]. Bitcoin ATM’s make it more accessible to get involved with digital currency, but they are only the first step on a long way.
The placement of Satoshi Point’s Bitcoin ATM – on the ground floor below the TechHub Wales offices – could not be more aptly chosen. Over the next few months, up to 40 staff members of DVLA [Driver & Vehicle Licensing Agency] will be working in the TechHub offices to mentor a number of software projects and start-up companies.