Source: 

Bitcoin ATM operator SatoshiPoint has confirmed the backing of two experienced Angel investors and has successfully raised its first round of funding.

The financing will fund the expansion plans of SatoshiPoint and further extend its capabilities, allowing individuals to buy and sell Bitcoin in more locations and digitally online in larger quantities.

Largest Network of Bitcoin ATMs in the World

Already operating the largest network of Bitcoin ATMs in the United Kingdom with current locations in Rathbone Place and Old Street Underground London, Manchester, Bristol and Swansea, the company is en-route to managing the largest Bitcoin ATM network in the world. The investment has enabled SatoshiPoint to purchase 7 new Bitcoin ATMs arriving mid-June. These new machines will be bi-directional and one way, enabling both the buying and selling of Bitcoins powered by General Bytes software.

New London locations have already been confirmed in Camden, Bermondsey and Bethnal Green Road with more on the horizon, with several more locations planned as it endeavours to place machines conveniently for the maximum number of people to use.

Buy & Sell £100,000’s Worth of Bitcoin

The new SatoshiPoint website is also about to re-launch with a slick new design and web portal to process Bitcoin transactions. Purchases under £10,000 can be made directly through satoshipoint.com and will appear automatically in your Bitcoin wallet. Orders over £10,000 will be enabled via liquidity from the investor's digital fund, the process will be managed by SatoshiPoint - acting as escrow provider - to ensure zero risk to all parties.

Looking to the Future

A second round of funding is already planned and will allow SatoshiPoint to install further Bitcoin ATMs at 15 more locations nationwide.

The future is bright for SatoshiPoint and the UK’s Bitcoin community as the investment made by the Angel investors powers expansion. Additional locations will enable more early adopters to try Bitcoin for the first time and experience using the cryptocurrency both online and offline.

The newly forged partnership between two Angel Investors and Hassan Khoshtaghaza, Managing Director of SatoshiPoint, looks set to be a promising relationship for both the company and the UK’s Bitcoin ecosystem as a whole.

Hassan Khoshtaghaza, Managing Director of SatoshiPoint, said "These are exciting times for Bitcoin, SatoshiPoint and the UK. I’m really excited to be working with the Angel investors and ecstatic to raise my first round of funding. I have so much positive energy for the future of SatoshiPoint and look forward to seeing the business grow and adapt to the needs of the crypto community in the United Kingdom and further afield”.

About SatoshiPoint

SatoshiPoint is a company operating Bitcoin ATMs in multiple locations across the UK. Powered by General Bytes software in secure fixed-kiosk locations, SatoshiPoint Bitcoin ATMs offer the very best user experience to allow individuals to buy and sell Bitcoin with zero or low processing costs with each transaction.

Disclaimer: The publication of a press release on this page should not be viewed as an endorsement by CoinDesk. Customers should do their own research before investing funds in any company.