SatoshiPoint launching three bitcoin ATMs in U.K. next week

Home » SatoshiPoint launching three bitcoin ATMs in U.K. next week
SatoshiPoint logo.

SatoshiPoint logo.

The race to become the largest bitcoin ATM provider in Britain is heating up. Later this week, U.K.-based bitcoin startup SatoshiPoint will activate two new Robocoin ATMs in London. A third ATM is tentatively scheduled to be debuted on June 3rd in Bristol. The machines are currently connected to Bitstamp, and will charge a 5% transaction fee.

The ATMs are relatively new Robocoin models allowing two-way transactions, and have significant anti-money laundering and know-your-customer protections built in. Customers have shown some reluctance to use the machines in other markets, as they require a three-step authentication process involving a biometric hand print, a scanned government-issued ID and digital face-recognition.

It’s still unknown how Britain’s regulators will react to these ATMs in the long term, but SatoshiPoint does face some stiff competition from a flood of considerably more user-friendly automated vending machines (AVMs) recently announced by QuikBit and Lamassu.

The first two SatoshiPoint ATMs will be placed near Oxford Circus and in a soup shop in the Old Street London Underground shopping concourse. Should the initial launch prove profitable, the company plans to expand its network across the U.K.

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