The first Bitcoin ATM's Hit the London high Street back in 2009 they didn't do well and wasn't really accepted back in 2009 but are back and more popular than ever starting in Birmingham, Manchester and other major cities throughout the UK.
The machine has been installed by BCB ATM following the installation of nine other units at convenience stores mainly in London, with more planned across the country.
Head of operations Landry Ntahe said: “We are really pleased to install our first bitcoin ATM in Birmingham, especially as it’s a region where we’ve seen more and more people using bitcoins.
“Within the last year we have seen a rapid growth in the use of our machines and high demand for placements of bitcoin ATMs within the UK.
“This tells us the adoption rate for using bitcoin is increasing and where there is more demand, the value will increase.
“While many people can purchase bitcoins online, our units offer another secure, trustworthy and convenient way to buy and sell bitcoins and more importantly with greater anonymity.
“Currently, bitcoins are used by gamers, techies, web developers and investors but increasingly SMEs [Small and Medium Enterprises] buying online are seeing the benefits of paying by bitcoin.”
The company says the machines are used between 30 and 40 times a day, with 25 per cent of people using them being new customers to a store. Asked about concerns over cyber-crime, a representative replied: “Bitcoin is very safe to use and transact.”
The WannaCry ransomware attack sent NHS computer systems into meltdown and as it demanded bitcoin payments of $300 (£233) to unlock each infected computer.
However another significant vote of confidence came this month when Britain’s largest online trading platform, Hargreaves Lansdown, allowed its customers to invest in the crypto-currency.
Bitcoin was launched in 2009, with transactions being independent of central banks and extremely difficult to trace.
The world’s first permanent ATM opened four years later at a coffee shop in Vancouver.
Bitcoin ATMs in United Kingdom
Total number of Bitcoin ATMs / Tellers in United Kingdom: 68
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List of major cities in United Kingdom with bitcoin ATM installations:
Belfast 1
Birmingham, UK 2
Brighton UK 2
Bristol 2
Cardiff 2
Derby 1
Edinburgh 1
Glasgow 1
Leeds 1
London, UK 49
Manchester (UK) 3
Penzance 1
Portsmouth 2
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