Bitcoin Shop Thinks Bitcoin Price Downturn is Positive, Investing $100,000 in Bitcoin ATMs

Bitcoin Shop Thinks Bitcoin Price Downturn is Positive, Investing $100,000 in Bitcoin ATMs

Recently, Bitcoin Shop, Inc closed on financings for aggregate proceeds at almost $500,000. Additionally, Bitcoin Shop saw it fit to invest $100,000 more in one of their partners, Coin Outlet. "This is a great step to encourage the use of digital currencies among consumers who have yet to experience the easy exchange of US dollars to bitcoins." "As the lead investor in Coin Outlet, we are pleased to see the installation of Coin Outlet's ATM at Overstock's headquarters," Bitcoin Shop CEO Charles Allen said. Coin Outlet's bitcoin ATM at Overstock isn't the only thing impressive about the....


Related News

BitcoinShop Interview: Universal Digital Currency Platform

Bitcoin Shop is a company that is trying to improve four main aspects of Bitcoin: Ways to shop with Bitcoin- with Bitcoin Shop. The way you store Bitcoins – with BTCS Wallet. The way you mine – with BTCS Mining. Ways to exchange Bitcoin – BTCS Atms. Through strategic partnerships, investments, and purchases they are doing just that. I’m here with Charles Allen, the CEO over at BTCS. Charles has big ambitions and rather than trying to reinvent the wheel, he has teamed up with people whom he believes are great companies in the industry they work in. Could you tell me a little bit about what....

There Are Now Over 200 Bitcoin ATMs in Service Globally

We really started to hear a lot about bitcoin ATMs late last year, when Las Vegas-based Robocoin launched the first two-way ATM in a downtown Vancouver coffee shop (that device went on to process over $1 million CAD in transactions in one month). Since then, to say that this industry has flourished is an understatement. According to the Bitcoin ATM Map - a service that keeps track of bitcoin/cryptocurrency ATMs - there are now over 200 ATMs that cater to crypto enthusiasts in operation globally. These ATMs are distributed across six continents from over 15 manufacturers. Five manufacturers....

Crypto ATMs continue to boom globally in 2020

New machines are now coming online at a rate of nearly 1 per hour In 2013 the world saw the debut of the first-ever Bitcoin ATM when a company called Robocoin placed a machine in a Vancouver coffee shop. Allowing customers to trade Bitcoin for cash, and vice versa, the machine saw $10,000 in BTC transacted on its first day.Now that we are a month away from the end of 2020, the estimated number of crypto ATMs around the world that allow customers to buy and sell Bitcoin (BTC) and other altcoins for cash is about 11,665 ATMs, according to CoinATMRadar.This reflects a remarkable rise in the....

Bitcoin Shop Acquires Additional Equity in Coin Outlet; Interview with CEO, Charles Allen

On Thursday, March 26, 2015 Bitcoin Shop, Inc. announced that it has acquired an additional 2% equity ownership in Coin Outlet, reducing Coin Outlet CEO Eric Grill’s shares by 701,966 while increasing Bitcoin Shop’s to 4.2%. "Today we are pleased to announce our additional ownership interest in, and partnership with, Coin Outlet,” stated Bitcoin Shop CEO, Charles Allen. “Their ATMs should allow consumers to exchange fiat currency for bitcoins through one fundamental and easy-to-use transaction. Additionally, with the help of Coin Outlet, we plan to leverage their ATM network as another....

Andreas Antonopoulos Thinks Bitcoin ATMs Need to Be Completely Redesigned

Mastering Bitcoin Author Andreas Antonopoulos recently gave at talk at Harvard's i-lab, spending much of his time in front of a small audience describing the various issues with Bitcoin as a brand. He noted many problems with the terminology used in Bitcoin, and he also focused on specific products or services in the Bitcoin space that seem to be doing a disservice to potential users. At one point during the presentation, Antonopoulos turned his attention to Bitcoin ATMs, asking the audience how many of them had used one of the machines in the past. While a few people raised their hands,....