High-profile Nisa retailer to introduce Bitcoin ATM

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Nisa retailer Rav Garcha is set to introduce a Bitcoin ATM at one of his stores in Worcestershire.

Bitcoin is a type of digital currency in which encryption techniques are used to regulate and verify the transfer of money. Bitcoin funds are stored independently rather than from a central bank, and the popularity of the currency has grown in recent years. A Bitcoin ATM is an internet machine that allows people to exchange bitcoins and cash.

Rav, who owns three stores in the West Midlands, is looking to introduce the machine at his Nisa Local store in Broadway, Worcestershire, from next month.

He said: “We are planning to install a new Bitcoin ATM machine, which should be open to customers in store from early April. It’s something a little bit different that shoppers won’t expect.

“We’ve noticed from looking online or in the news that quite a few people are switching to electronic currency and we want to make sure that we stay ahead of the trend and offer something niche that will appeal to new customers.”

There are more than 100 Bitcoin ATMs in the UK with most located within the Greater London area, according to coinatmradar.com. 

Readers' comments (10)

  • Oh dear.

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  • When being a shopkeeper like your family before you just is not enough.Wonder what his customer base will be like.

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  • "Darling, before we go out tonight, will you nip down to Nisa and get some Bitcoin?"

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  • Apparently there is massive demand for bitcoinage in Gloucestershire. People have been campaigning for it. Letters to MPs, petitions, protest marches. Now Rav has got this sorted out perhaps he would consider stocking unicorn food.

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  • Blimey, what's with all the moany comments? Unless you've been living under a rock these last few years (or are elderly), you'll know that Bitcoin is big business.

    Personally I think Bitcoin is just a giant Ponzi scheme but as it's so popular, what's wrong with installing a Bitcoin ATM and cashing in on the craze? I'm sure once upon a time, retailers thought installing conventional £ cashpoints was a daft idea but we now know how beneficial they can be.

    I don't understand why some independent retailers are so against trying out new ideas. If you refuse to move with the times, you'll be the only loser. How many shops have closed purely because they're stuck in the past and missed out on new revenue streams and modern methods to increase footfall?

    Good luck to Rav I say!

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  • Strange ethics James- you think it’s a Ponzi scheme but you see nothing wrong with cashing in on it!

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  • Ethics? Come on lets be honest here. We all stock range of brands that are unethical for various different reasons but we do so because we need to make living and shelves would be almost bare if we did not stock unethical product. I'm not saying it's right but it's the truth. Can any body shed some light on fees/commissions etc. for one of these machines? I presume high throughput is needed to make it worthwhile. I can't say I've ever had a single customer mention bitcoin.

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  • Of course Bitcoin is a ponzi scheme but so is the pound and every other mainstream currency that we all use. At least Bitcoin takes away some control from the dodgy banking system that enslaves us all but it's still far from ideal. You handle cash and card payments so you can't take the moral high ground when it comes to Bitcoin.

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  • The £ , for all its faults, is backed up by the Bank of England. Bitcoin is backed by nothing.

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  • I never said bitcoin was a Ponzi scheme. I was merely pointing out that James saw it that way, i.e. Illegal, but saw nothing wrong with being involved with it.

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