BitVendo Is Irelands’ First Bitcoin ATM Provider

Below is an outline of who we are and what we do. If you feel we haven’t covered everything or would like to know more then just contact us, no question is too big or small.

Initially we plan to role out several ATM’s in Ireland and in the UK throughout 2014/15. All team members will be un-paid in 2014 to keep us highly competitive and sustainable.

BitVendo is owned by several investors, some of which are listed as team members on this site, and others prefer to remain anonymous. The consortium is spread out across 3 continents, and contains some very influential and tech savvy people.

Our ATM came from an American company called “Lamassu Bitcoin Ventures” and built in Portugal. It was 1 of their first 15 machines ever built.

 

Our First Mission

Ireland is currently in financial crisis and the country has very little trust in the banking system. We believe Bitcoin is the way forward for most, but it will take alot of time educating people on the subject of crypto-currencies aswell as the history and usage of Bitcoin.

Bitcoin is not some get rich quick scheme and it’s not a pyramid scheme. The media portrays it like this to help them sell newspapers etc and we plan to clear up any negative press or myths related to Bitcoin. We don’t expect this to happen over night, so our first goal is to educate people.

 

Our Second Mission

Our second goal is to make Bitcoin more accessible to people. At the moment it is very cumbersome to buy Bitcoin. Your only real options are to wire money to a trading account which is slow, expensive and traceable or to swap cash for bitcoins from local bitcoiners in your area. Swapping bitcoin for cash in person although anonymous is too expensive and risky.

We’re trying to tick all the boxes and make the purchasing of Bitcoin easy, cheap, safe and anonymous. We won’t charge a high commission and we won’t keep logs on transactions (we have no reason to and currently have no legal obligation).

Accessibility isn’t just about buying Bitcoin. It’s a 2-way street so we need to offer a slick service allowing Irish bitcoiners to cash out their Bitcoin collection. We will add a service for withdrawing. Once bitcoins are sent to us we will wire money into our customers bank accounts or post office accounts.

EU money laundering laws may affect this service, so our options may be limited. Did you know – PayPal don’t accept any Bitcoin related transactions (I wonder why).

 

Our Third Mission

Is to become profitable. This will be done very slowly and by using a franchise style model. We are not greedy and don’t plan on making a quick buck, but we are in business.

We are happy to lose time and money for several years if it encourages the use of Bitcoin in Ireland and the United Kingdom. We promise to keep our operating costs low so you never incur high transaction charges.

One of the main purposes behind Bitcoin is to cut out the unnecessary banking and credit card fees, so for us to charge an excessive commission would be backward.

 

The above is just a simple overview of who we are and what we plan to do. Things change over time and we will adapt to whatever comes along. We don’t expect banks or politicians to welcome us and certainly don’t expect the press to give us fair coverage. It would be far sexier for the media to portray us as money launderers for drug dealers than a Bitcoin broker.

If any member of press wants to talk to us or see our device, it can be easily arranged. All we ask is that we get a fairly written or spoken review in return.

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