Ireland to Get First Bitcoin ATM Soon

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Ireland to Get First Bitcoin ATM Soon
Ireland to Get First Bitcoin ATM Soon

Ireland to Get First Bitcoin ATM Soon

This month Singapore got its first and second Bitcoin ATMs. Now, it looks LIKE Ireland is all set to get its first Bitcoin ATM soon. The local reports say that Ireland’s first Bitcoin ATM is to go live within a couple of days and the wait is over for the local customers. Expectations are that the Bitcoin ATM manufactured by Bitvendo will be placed in Hippety’s Café in Temple Bar.

Also, on expected lines, the Bitcoin ATM will accept cash for virtual currency top-ups. Interestingly enough, the new machine is not expected to dispense cash. It will charge between 3-5pc commissions on transactions. The parties involved in the mission are just trying out to sort out things and working on the project so that it can be completed in the next couple of days.

The local supporters of Bitcoin, a five-year-old virtual or ‘crypto’ currency, are happy about the latest developments and admit that it will make things quite easy for them. Also, though the country does not have too many shops or outlets Bitcoin, the latest Bitcoin ATM will definitely add momentum to the popularity of the digital currency which is no more an enigma.

Currently, except for a few businesses, there are not many takers of Bitcoin in Ireland. For instance, the one shop that sells cell phones, accessories and electronics, GSM Solutions is quite enthusiastic about the latest development in the Bitcoin economy in the country. According to GSM Solutions it was the first that started accepting Bitcoin as part of its normal business last May.

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Ireland Has a Lot of Scope for Bitcoin

Ireland needs some more companies that can follow the footsteps of GSM Solutions and provide avenues wherein customers can spend their Bitcoins. A few other companies that accept Bitcoin in Ireland such as Wexford CCTV firms (Visiconnex) and even B&B guest houses in Offaly (The Ring Farmhouse, Birr), etc. have been able to generate a lot of interest.

When compared with other countries wherein Bitcoin has got a lot of momentum and received a lot of appreciation, Ireland does not hold ground. For instance, outside Ireland, giant retailers Overstocked.com and TigerDirect.com accept Bitcoin for the thousands of everyday products e.g. jewelry, electronics, health products and home furnishings.

Interestingly enough, Bitcoin is going to hit new heights the way it has progressed and moved ahead despite the collapse of the giant Bitcoin exchange Mt. Gox. Now, it looks there is nothing that can stop Bitcoin from becoming the top currency.

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