Bitcoin ATM Reaches to British Columbia’s Simon Fraser University (SFU)

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Bitcoin ATM Reaches to British Columbia's Simon Fraser University (SFU)

Bitcoin ATMs make Bitcoin accessible for ordinary users, this may be a major reason that their demand is growing up from university campuses, restaurants, hotels, market complexes, etc. The latest addition to the list of the places where Bitcoin ATMs have been installed is British Columbia’s Simon Fraser University (SFU).

According to an announcement that has come from British Columbia’s Simon Fraser University (SFU), the campus bookstore would begin accepting Bitcoin payments starting 26th May. The official release informs that as part of the initiative, SFU will install Bitcoin ATMs at its three bookstore locations in Burnaby, Surrey and Vancouver.

British Columbia’s Simon Fraser University (SFU) also ensures that the units are provided by Ontario-based ATM operator BitSent. Interestingly, those who know about the Bitcoin landscape in Canada, this is the same company that boasts eight ATM locations across Canada. Thus, BitSent is quite experienced when it comes to Bitcoin ATMs.

According to SFU executive director of ancillary services Mark McLaughlin the decision was made as part of an effort to increase conversation about innovation on campus. He was quoted saying that the only way to have an opinion about digital currencies is to learn about it, and everyone is providing a firsthand experience in that regard.

Promotion of the Launch

The press release from the organization informs that to promote the launch, events will be held on 27th and 28th May marking ATM debuts at SFU bookstores in Burnaby and Surrey. There are several special rewards for customers. For instance, the first 100 customers who spend CA$20 or more in Bitcoin, will receive CA$5 gift cards.

Nonetheless, the announcement marks the latest effort from Simon Fraser Bitcoin Club, the on-campus student interest group. According to some observers they helped encourage the university to accept donations in Bitcoin last August. Interestingly, the news has come at a time when the number of new Bitcoin ATMs being added to the BTC network appears to be slowing.

Several data collection show a 69% decrease in new Bitcoin ATMs from Q4 2014 to Q1 2015. This may also be because banks and ATM providers typically pay retail outlets a fee to have their machine installed on a property which at times could be expensive. In such a situation it becomes important to install more Bitcoin ATMs at various locations.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com