A Bitcoin ATM installed in a popular Arndale store signalls an ‘exciting step’ for the online currency in Manchester, according to a supporters group.
Last week, CeX in Manchester Arndale Centre became one of the first places in the UK to install a Bitcoin ATM.
The trade-in chain now accepts Bitcoin in more than 30 shops in the UK, with plans to expand to 256-plus shops in the future. Their Glasgow store has also installed a Bitcoin ATM.
THE FUTURE? Manchester CEX launches the Bitcoin ATM
The latest ATM joins the ‘The Corner Store’ on Grosvenor St, Manchester, which has been accepting Bitcoins for over a year.
Our brand new #CeX #Manchester #Bitcoin #ATM 😀 pic.twitter.com/sRAdnNbRq0
— CeX (@Cex) October 22, 2014
“This is definitely a very exciting step for Bitcoin uptake in Manchester,” said Ash Moran, who co-founded Bitcoin Manchester, a local group that meets weekly and promotes Bitcoin.
Essentially, Bitcoin is an online currency that is obtained through ‘mining’.
Mining is the process of extracting the virtual coins by solving complex algorithms on your PC or through a mining device.
Since its creation in 2009, Bitcoin has been gaining rapid prominence with mainstream retailers.
Many popular online retailers now accept the Bitcoin as a form of payment, including Expedia, Overstock and Amazon.
With CeX embracing the digital currency, it just further demonstrates that Bitcoin matters to large, established businesses, and also sets a precedent in Manchester that it works in bricks-and-mortar high street stores, as well as online.
STAUNT SUPPORTER: The support of CeX is a huge step for the digital currency
Ash told MM: “CeX is a busy shop, and its customers are all now exposed to a Bitcoin vending machine and ‘Bitcoin accepted here’ till signs – all of which will increase familiarity of Bitcoin among the general public.”
Also, the shop has Bitcoin payments integrated into its payment system. If you request to pay by Bitcoin they generate a payment QR code on their terminal and turn the display round to you.
They pay out in Bitcoins too, so if you wanted cash for an item sold to CeX, you can get Bitcoins instead now.
