Bitcoin coming to thousands of ATMs in the UK

in Project HOPE3 years ago

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It is always good to read stories about cryptocurrency becoming more mainstream. It has now been announced that Bitcoin will be coming to 16,00 ATMs in the UK through a deal between cryptocurrency company BitcoinPoint and the ATM company Cashzone.

Holders of Bitcoin will need to register to use the BitcoinPoint app before they can use this service. They will then scan a QR code on the cashpoint which will send them a SMS text message with a PIN to their registered mobile phone. They can then withdraw cash in the value of £10 up to £500.

The BitcoinPoint app also aims at making it easy to buy Bitcoin for those who are not so tech savvy to use an exchange. Their app allows a user to easily buy Bitcoin through one of their agents which include outlets such as newsagents.

I do love stories like this because I find a lot of scepticism still when I speak to people about buying and using Bitcoin and other cryptocurrencies. There is still a feeling that it is just a bunch of techies nerds playing with a high-risk experimental currency that is difficult to understand. There is a feeling they will lose their money. Seeing the Bitcoin logo around making it more commonplace and, in my view, is the biggest win out of this. It normalises Bitcoin so that the masses start to think that it is something mainstream and stable. This will really help drive adoption.

All this when Bitcoin, once again today, has hit a new ATH. It is currently trading at $25,700 USD.

I feel the next year could be the year that cryptocurrency finally starts becoming mainstream. What do you think?

Image source: Pexels

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The cash out limits are a bit annoying imo.

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I suppose that's to stop people emptying the machine of cash like any cashpoint. Tbh, I rarely use cash but I do think its a good advert for Bitcoin.

Hi friend, this is really great news. Little by little we are entering with the crypto world to other spaces, facilitating the access to the purchase and sale. I think this is a great step.
It's true, there are many people who don't believe in this technological phenomenon... They don't know what they are missing.

It has been a slow journey with a lot of people bitten by the 2017 crash after they bought in on pure speculation. This time it feels different as bigger institutions are involved.

However, I am expecting a big pull back on Bitcoin price when the big markets like CME open tomorrow.

Yay! 🤗
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The more options we have, the more is better. :)

I agree, options are great and helps adoption.

 3 years ago  

@tipu curate 4

wow, can you imagine that? wait till my mom sees this. She's been dying to see bitcoin outside of the computer screen in real life.

nice news though. my money got stock today while I was trying to fund my account. so this is lovely news for the world of crypto...more liquidity to our elbows

It is always good to have more ways to access Bitcoin. Another step on the journey to mass adoption.

My mother calls me every time the Bitcoin price is in the news - like I don't watch it every day anyway.

looool. I love her energy...mom power

That's a very nice news, @awah.

Hi friend, listen to the truth, I think this is great, I didn't know it was already being implemented, it would be a great opportunity for those of us who deal with that currency. It's great news, hopefully it will become much more normal, so we can get rid of the banks. Greetings!

I think eventually, banks will become more and more superfluous. In the old days, everyone new their bank manager and visited their local bank regularly. It was important to have a relationship with your bank. That is no longer important and the loyalty to the banks has fallen a lot. Cryptocurrency provides the next step in the journey by cutting the back out of the process of exchanging money.

Every day that passes and with the current value of the BTC people are more interested in having a piece of this cake, now the challenge is not that people are interested, the real challenge is that people understand what is the correct use of it so that they avoid falling into scams, that's why communities like PH are so important to push the issues related to the BTC to educate people.

hi @trabajosdelsiglo - this is a very valid point. As FOMO kicks in - the scammers will come in for a piece of the pie too. Education is key and for those of us who know, it is vital that we help to educate those who do not. Thanks for your comment.