The bitcoin machines operator plans to expand nationwide while offering increased liquidity for high profile customers.

SatoshiPoint, a company running five bitcoin ATMs in the UK, has announced its plans for expansion after securing the funding from two Angel investors.

The company uses the software by General Bytes in its secure fixed-kiosk and claims to offer “the very best user experience to allow individuals to buy and sell Bitcoin with zero or low processing costs with each transaction”.

SatoshiPoint is now led solely by Hassan Khoshtaghaza after his partner James Harrison left the company to create his own business – Telebit bitcoin wallet. Now SatoshiPoint has closed its first investment round confirming the backing of two Angel investors. Their names and number of funds invested are not disclosed.

Hassan Khoshtaghaza said in a press release:

“These are exciting times for Bitcoin, SatoshiPoint and the UK. I’m really excited to be working with the Angel investors and ecstatic to raise my first round of funding. I have so much positive energy for the future of SatoshiPoint and look forward to seeing the business grow and adapt to the needs of the crypto community in the United Kingdom and further afield.”

The company is going to install bitcoin ATMs in 7 new locations in addition to its current machines in London (at Rathbone Place and Old Street Underground Station), Manchester, Bristol and Swansea. These are two-way ATMs, which allow users not only to buy digital currency but to change it for fiat money as well.

SatoshiPoint will also relaunch its website in a new design simplifying the process of bitcoin transactions.

”Purchases under £10,000 can be made directly through satoshipoint.com and will appear automatically in your Bitcoin wallet. Orders over £10,000 will be met via liquidity from the investor’s digital fund, the process will be managed by SatoshiPoint – acting as escrow provider – to ensure zero risk to all parties.”

The bitcoin service is looking to raise additional funding in a new investment round in the near future which will allow SatoshiPoint to install further bitcoin ATMs at 15 more locations nationwide.

As we wrote earlier, three new bitcoin ATMs were opened this week on campuses of Canadian Simon Fraser University while a part of bitcoin community expresses doubts about bitcoin ATMs functionality in general. Companies like BTCPoint, Bit2Me, and even Robocoin, formerly a manufacturer of bitcoin ATMs, are focusing on creating software that would enable standard ATMs to work with digital currency.

 

Nadya Krasnushkina