Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Canadian bitcoin exchange CAVIRTEX is looking to get into the bitcoin ATM space.
We already had an indication of this happening, when the exchange teased a picture of a line of BitAccess ATMs in a warehouse at the end of July.
At the time, we didn’t have a whole lot of information, but we’re learning that at least six of the machines have launched today, and another four will be launching shortly.
It effectively makes Canada the country with the most bitcoin ATMs in the world, beginning with the first two-way ATM installed by Las Vegas-based Robocoin last year in a downtown Vancouver coffee shop.
The six machines are installed in Gateway Newstand locations (which see quite a bit of traffic) in the Toronto, Ontario area. The other four (aforementioned) are planned for Vancouver, Niagara, Ottawa, and Halifax.
“Launching these Bitcoin Teller Machines in Canada is a significant milestone that will let anyone with a cell phone and cash buy Bitcoins instantly,” Joseph David, CAVIRTEX CEO said. “It’s a big first step working with BitAccess and Gateway Newstands, and as demand increases we plan to install more BTMs across the country.”
Gateway Newstands is a franchised collection of convenience stores with 400 stores in North America, and the partnership between CAVIRTEX and Gateway should open up some doors for future locations down the road.
“We have been in business for 30 years and even though we are well established, it is important to stay current,” said Terry Samuels, Vice President of Gateway Newstands. “Our high traffic Gateway Newstands locations provide us the opportunity to innovatively step up to the plate.”
Each of the ATMs will be capable of buying and selling up to $3,000 CAD in the Canadian marketplace, and not surprisingly, the machines are directly tied into the CAVIRTEX bitcoin trading platform.
The exchange ambitiously hopes to install more than 500 bitcoin ATMs in Canada, but did not provide a time frame as to when deployment could be completed.
Gerald 
Oh this is real cute from Cavirtex not only do they charge the highest fee’s but they have a reputation for holding everybodys fund’s with no good reason or right. I learnt the hardway with them. Since i went to QuadrigaCX i havent had any issues. Bitcoins are bitcoins though lets see where we end up in the future.