QuadrigaCX is a pioneering exchange for Bitcoin in Canada and now they are planning to install SumoPro two-way ATMs for Bitcoin all across Canada. These machines are being manufactured by BitXatm and will be planted in all the major cities.
In 2014, CAVIRTEX, one of the largest Bitcoin exchanges in Canada had already tried to install these ATM machines, manufactured by BitAccess, in high foot-fall areas of the country. For this effort, they collaborated with GateWay Newstands which is a franchise store. Niagara Falls is perhaps the most notable locations of all the places in Canada where these ATMs have been installed. They plan to put these ATMs strategically in all the tourist areas. However, due to digital currency’s uncertain fate in the market, these machines were swiftly removed in no less than a month. Even in places like Ottawa and Toronto, these ATMs met similar destiny and were removed as soon as they were installed which led to the company’s bankruptcy.
What Led to the Failure?
Vague status of Bitcoins in the market is not the only reason that can be attributed to the fate of these ATMs that were set up across the country. The locations of these ATMs were well planned and gave them the visibility that they needed to succeed. However, the major reason of their failure has been poor management, inadequate staff, improper functioning of the machines with no customer support or technical support service available.
What will QuadrigaCX bring to the table?
QuadrigaCX took over CAVIRTEX a year later and is now the proud owner of the coveted spot of being the largest Canadian Bitcoin Exchange. Now they are taking up the challenge and believe that they will be able to overcome the obstacles as they have very different strategy from their predecessors had. Gerald Cotten, CEO QUadrigaCX said in an interview that they are excited about the prospects of bringing these beautiful and functional machines to Canada.
What makes BitXATM different?
The machines from BitXATM are different because they are user friendly and are also the best machines on the market currently. The 17 inch touch screen makes usage simple and the machine attractive. They have also explained that to ensure things are going as planned, the installation of the machines will happen in small batches so that the problems or obstacles can be dealt with easily. The first batch, according to the CEO will be installed in Vancouver. There will be no transactional fees incurred on transactions so that these machines can be self-promoted.
The company is confident about the launch of Bitcoin ATMs as they are well acquainted with the Bitcoin company owners, they have already conducted widespread research and due diligence. Their knowledge and stronghold in the industry will help them get an edge in the market and also provide quality service to its customers.