Brighton’s first bitcoin ATM is being installed in a cafe in The Lanes today.
What’s the point? Well firstly, it will allow you to buy a coffee and cake there as the cafe itself will now also accept bitcoin – joining a handful of Brighton businesses eager to embrace the virtual currency.
But it could also be a shrewd investment. If you’d bought £20 worth of bitcoin three years ago, it would have been worth £8,000 by the time Futurecoins installed their first machine at a cafe in Shoreditch in March this year.
And as Brighton is packed to the brims with digital pioneers and early adopters, it was the obvious next location.
Joel Raziel, Founder of Futurecoins, said: “There is such a strong counter-culture scene in Brighton we just knew it would be an area in which bitcoin would be jumped on.
“Also, the cheap remittance payments to Africa and future links to charitable donations all appeal to the strong local community.”
Customers are charged 2.5% cent commission from next month, and each ATM customer is limited to £1,000 of transactions per month.