Bitcoin ATMs have become somewhat common in the world today. With over 1,000 of these machines in operation around the world, they are not all that widespread, though. Most of the ATMs are located in the United States and Canada these days. Alphavend, a UK-based digital currency ATM operator, installed their first device in West London. It can be found in Acton Town, at walking distance from the Piccadilly Line Station.
Bringing Bitcoin and other digital currencies to the masses is a big challenge. More specifically, there are not too many convenient ways to purchase Bitcoin, especially with cash. Cryptocurrency ATMs make a lot of sense in this regard, to say the least. Alphavend, a local ATM operator, is thinking along the same lines. Slowly but surely, the company is expanding its presence across the United Kingdom. Now that their West London Bitcoin ATM is operational, interesting things are bound to happen.
Alphavend Brings a Bitcoin ATM to West London
It has to be said, Alphavend is making quite the name for itself in the UK: The company successfully installed Bitcoin ATMs in Central London, Scotland, and Brighton so far. All of those ventures have been successful, but the company wants to grow its network even further. Bringing such a teller machine to West London is a smart decision in this regard. More specifically, the machine is located in a very busy area of West London with lots of passersby every single day.
Up until this point, local residents had to travel to Central London to conveniently buy Bitcoin They could also use an online exchange, but there is a bit of an issue there. One of the world’s largest Bitcoin exchanges stopped accepting and processing GBP transactions earlier this week. This means more convenient solutions have to be found. Using Bitcoin ATMs makes a lot of sense in this particular regard. It is easily accessible for customers from Brentford, Heathrow, Greenwich, and other key districts in West London.
This deployment comes at an opportune time as well. With the Bitcoin price soaring to new all-time highs over the past few weeks, demand has never been greater. At the same time, running a Bitcoin ATM is quite a difficult venture. There is no guarantee of profitability whatsoever in this industry. Moreover, one has to find an appropriate location for such a device. This particular machine is located in Dhillonz Convenience Store, where it can be accessed seven days a week.
Header image courtesy of Shutterstock