GOREY has welcomed its first Bitcoin ATM machine at the XL Shop and Asian/Brazilian store on Gorey’s Main Street.
Having just been installed last Friday, shop owner Eswar Maha said that it has sparked a lot of interest among local customers.
Shop keeper Dan Maha said that there have been a lot of people in wanting to know more about the world’s leading cyrptocurrency.
"Since we got the machine installed there has been quite a good response. People keep calling and asking what is that and we realised that not a lot of people locally know what Bitcoin is so they’re curious.
“When they ask we tell them how you can trade in Bitcoin and how to add to the wallet on your phone and increase your value. Here in the shop we had invested in cyrptocurrency for a long time, long before we got the machine but I still haven’t used it yet.
"As soon as we can we definitely will buy Bitcoin from the machine as when it’s in flourish, you can get good money from it”.
He added that he feels cyrptocurrencies have a big future in Ireland.
"In my view the market has a future here and we thought now was a good time to install the machine. Definitely for us, this machine will be a long term investment and we hope it’ll go well but being now we know that it’s the only one of its kind in Wexford, it’ll surely get people coming in the door to use it”.
The machine was delivered by Boinnex, which is Ireland’s leading blockchain and and cyrptocurrency company committed to promoting the use of cryptocurrency, blockchain and other decentralised technologies.
A bitcoin ATM allows customers to buy Bitcoin and other cryptocurrencies using cash or cards and the machines can also engage in Bitcoin transactions.
Before now, there were Bitcoin ATMs installed in Dublin, Galway, Limerick and Cork but this machine is certainly a first for county Wexford.
Looking to the markets, Bitcoin been increasing in value this month despite a drop in value in January 2022 but the cyrptocurrency had its best performing year to date in 2021.
Bitcoin was first invented online over a decade ago and it does not have a central bank or single administrator, that can be sent from user to user on the online global network.
The ATM machines do not dispense cash but are rather kiosks that connect to the bitcoin network and allow customers to purchase crypto tokens with deposited cash.
Boinnex’s Bryan Tierney said that the machine being on Gorey’s Main Street will be an important factor for those interesting in using it.
"We have a full list of Irish locations of Bitcoin ATMs on our website. XL Gorey is a great local convenience store with a wide variety of products and foods available. They have a Deli counter, coffee and also offer a variety of Asian and Brazilian foods. It’s great that now right on the Main Street you can buy cryptocurrency there through the Boinnex Bitcoin ATM”.