Race for Bitcoin ATM Continues

The race in the bitcoin ATM world continues as London has now been targeted to house machines to make them open for public use.

Robocoin and Lamassu are already in the lead, pushing for their machines to launch world-wide, one country at a time. The startups have manufactured their machines and are waiting for the go-ahead to begin distribution.

Global Bitcoin ATM Ltd. plans on installing five ATMs in the UK per month. They will start with London and work their way from there. Spokesman Terry James said that the company plans on going global, installing machines wherever possible.

Global Bitcoin says that they’ve located a populated area in London where they would like to distribute their first Robocoin modeled machine. They will begin on the first of February. James said:

“The first machine is due in February, and we’ve got two machines already paid for. We’re hoping it will be the first of its kind in the UK.”

Robocoin ATMs are able to handle two-way conversions, both in fiat and in BTC.

James’ approach to bitcoin ATMs is a unique one. He plans to work the machines on behalf of each machine’s individual owner, rather than owning them. His firm keeps up with the ATM maintenance and looks for good locations for the machines to thrive in. James continued:

“We think there’s a niche for people who want to get involved [in bitcoin ATM ownership] but don’t have the time or resources.”

James says that he and his team prefer using Robocoin manufactured machines for now.

Joel Raziel, a real estate developer, is also awaiting the arrival of his Bitcoin ATM.  However, it is a Lamassu ATM unit, a direct competitor to Robocoin. Raziel’s machine is also due at the start of February.

Raziel is currently in the process of confirming an East London location to house his device.  He says, “This is completely out of the ordinary for me, it is very much an impulse buy. I’m kind of biting my nails over it.”

Both Global Bitcoin and Raziel say that they will not charge for the use of their ATMs. This is interesting, since some ATM owners expect to gain a percentage for each use.

Bitcoin ATMs in NYC

It was reported earlier that New York City would get its first bitcoin ATM machine in the near future.

However, those plans were soon put on hold after the NYDFS said that they would be holding hearings later this month on BitLicensing regulations. Depending on the outcomes of those hearings on the 28th and 29th, NYC bitcoin ATM supporters must now play the waiting game.

One of the New York City bitcoin ATM owners, Willard Ling, is among those who have remained stagnant, as NYC regulators decide on the fate of the currency  at the end of the month.

Shortly after the hearings conclude, London will already be ahead of the game.

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