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CAVIRTEX Follows Robocoin With Bitcoin ATMs

One of the main pitfalls of crypto currencies like that of Bitcoin is the fact that there is still much confusion amongst the general public on how exactly to purchase this virtual currency. Added to this is the massive potential to earn huge returns on your investment due to the volatility of the Bitcoin market.

Back in February we reported on a company Called Robocoin who came up with the simple but brilliant idea of creating Bitcoin ATM’s. Here anyone can simply use their credit card to buy and sell Bitcoins just like they would use any other ATM. There is no need to for shady Bitcoin exchanges who make the process of purchasing Bitcoin tedious to say the least.

Following Robocoin’s idea there is now a Calgary based startup called CAVIRTEX which is Canada’s first Bitcoin exchange. They have entered into an agreement with Gateway Newsstands to offer BTMs in Toronto. Initially there will be 6 of these Bitcoin ATMS available.

Vice President of Gateway Newsstand explained that their company was always keen to remain updated to current technology trends and Bitcoins is the ideal “opportunity to innovatively step up to the plate.”

The machines themselves were developed by Ottawa- based BitAccess who have expanded their operations to include BTMs in 12 countries and in 42 cities. The way it works is simple in that all the customer needs is a cell phone that accepts messages. You then will have a choice of scanning a QR Code with smartphone app or get the paper printed wallet from a CAVIRTEX Bitcoin machine.

Author: Victor

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