Vancouver BTC ATM a Hit, Trades More than $100,000 CAD of the Digital Currency in its First Week

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Vancouver BTC ATM a Hit, Trades More than $100,000 CAD of the Digital Currency in its First Week
Vancouver BTC ATM a Hit, Trades More than $100,000 CAD of the Digital Currency in its First Week

Vancouver BTC ATM a Hit, Trades More than $100,000 CAD of the Digital Currency in its First Week

After the successful installation of BTC ATM in Vancouver, it has received huge success and increased footfalls. Mitchell Demeter, the co-founder of Bitcoiniacs, says that the ATM and Bitcoin continue to grow unchecked. The first BTC ATM of the world is located in a coffee shop in downtown Vancouver, till now has traded more than $100,000 CAD of the digital currency in its first week.

It is a Grand Success Says Demeter

As was expected from the much awaited BTC ATM, it received accolades from Bitcoin customers in the city who gave it a good start. Mitchell Demeter, the co-founder of Bitcoiniacs, who said use of the virtual currency continues to grow unchecked, was not surprised at all from the response the BTC ATM got since the beginning.

Mr. Demeter seems happy when he says that the BTC ATM has had lineups all day every day. He is also planning to bring four more such ATMs that are going to cater the requirements from Bitcoin customers in Canada. Currently, his company operates a physical BTC exchange store near Granville Island; however, he expects that BTC ATMs will be installed in major cities of the country.

The co-founder of Bitcoiniacs says that he is not yet releasing numbers on how many unique traders had used the ATM; however, he is confident that the appeal of Bitcoin has gone up to the next level and it has begun to reach far beyond the currency’s niche base of tech-savvy people.

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Demeter Confident About the Future of Bitcoin

He sounds extremely confident when he admits that he knew since the beginning that people would be excited and interested in BTC ATM; however, he is astonished with the huge number of customers who came to use the services of the first ever Bitcoin ATM. He is also confident that the ATM has made the currency real for people.

Mr. Demeter believes that BTC ATM has taken Bitcoin to the next stage and now it has become something people can see. There has been huge increase in the value of Bitcoin in the last week wherein it touched $396. Though there was a slight fall in its value soon after the seizure of Silk Road, it has soared higher and higher.

The man behind the idea of the first BTC ATM, Demeter says that many people have come out to try the ATM purely out of curiosity. He says that he is mulling a plan to get easier with a planned redesign and make it as easy as an iPad.

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