QuadrigaCX Launches ATMs
QuadrigaCX, Canada’s largest Bitcoin exchange, has big plans to install their new SumoPro two-way bitcoin ATMs in prime locations across the country. These units will be delivered in batches of five and placed in several major cities including Vancouver, Toronto and Montreal.
In 2014, CAVIRTEX attempted a similar rollout of BitAccess bitcoin ATMs, installing them in Gateway Newstands across Canada. The experiment was far from successful, and the company shut down the endeavor a few months later. They ended up selling off their machines at a substantial loss.
While the locations gave the CAVIRTEX bitcoin ATMs high visibility, their failure has been attributed to the fact that they were inadequately staffed and prone to malfunction, with little to no troubleshooting support.
Quadriga said this new rollout will be different.
“We are excited to finally be bringing some functional and beautiful two-way bitcoin ATM machines to Canada,” said Cotten.
He explained that the new BitXATM devices are among the most reliable, intuitive and user-friendly bitcoin ATMs on the market. It features an industry-leading 17-inch touch screen that promises to promote ease-of-use. Furthermore, the rollout will happen in small batches, allowing for time to ensure that each new machine is supported and operating properly from the outset.
“We’ve done our research,” says Cotten. “We know the owners of every major bitcoin ATM company. We have used many of them and spoken to previous owners. We have conducted extensive due diligence and feel as though our track record with regard to bitcoin ATM distribution across Canada will allow us to continue to provide a superior service.”
QuadrigaCX has been responsible for installing the first Lamassu and Skyhook units in Canada. Since then, they have placed more than 40 machines across the country.
The world’s first bitcoin ATM, the Robocoin at Waves, was launched by Bitcoiniacs in Vancouver at the end of 2013. Quadriga installed the second bitcoin machine, Canada’s first Lamassu, three months later. The company went on to purchase and install more than a dozen additional Lamassu machines across Canada last year, as well as Canada’s first Skyhook.
Like most other independently owned bitcoin ATMs across Canada, these machines will trade on the Quadriga CX platform. These new BitXATM machines also will be modified to allow for direct cash deposits and withdrawals from customers’ Quadriga CX balances.
Cotten expects to launch the first of the new machines in the heart of downtown Vancouver in early June. Transactions will carry an introductory zero-percent fee as users become acquainted with the new bitcoin ATMs.