Bitcoin startup Netcoins allows merchants to use any mobile device as a portable BTM. The service is already available in retail stores in Vancouver, Coquitlam, Surrey, Victoria and Kelowna.





The new feature can be used at store checkouts enabling customers to buy bitcoin from the store using cash or bank cards. The offer is advertised as an easy way for retailers to sell bitcoin and increase revenue by attracting new clients. Netcoins claims it does not charge merchants and provides legal compliance.



“Physical Bitcoin ATMs are incredibly popular, in some cases selling $20,000 of Bitcoin every month, however the high machine cost and space requirements put them out of reach for most retailers. The Netcoins solution allows any retailer to sell Bitcoin without any barriers-to-entry. We look after all the heavy lifting, and can set new stores up within 10 minutes,” says Michael Vogel, the company’s CEO.



Bitcoin ATMs are indeed gaining popularity in Canada. In January 2016 the 100th machine was installed in the country. Canada is also the country where the first BTM ever was launched on 28 October 2013.

Sonya Belova