Today saw a huge first for both the welsh tech scene and welsh cafe culture. Customers and entrepreneurs in Wales will be able to pay for coffee, cake and rent using the virtual currency Bitcoin.
The largest network of Bitcoin machines in the United Kingdom, Satoshi Point, has expanded to Swansea. A Bitcoin ATM machine has been installed in Cafe Nisse located on Wind Street right below TechHub Wales.
This means that Cafe Nisse customers and TechHub businesses can now begin making payments using the internet�s virtual currency.
The use of Bitcoin payments within a business increases innovation as they seek to diversify the way consumers are able to pay for products and services.
Millions of people use Bitcoin globally to pay for internet services and products online. The Bitcoin virtual currency is currently valued $3.7 billion with 1 Bitcoin worth �180 (as of March 26th 2015).
Satoshi Point turned over �38,000 in one month in 2014 and is set for further growth for 2015 with interest from potential investors and new Bitcoin machines springing up in locations across the country.
Bitcoin has grown exponentially in recent months and its presence is set to grow with it with the establishment of Swansea Bitcoin Society this month.
Paul Harwood, a Director of TechHub Wales says:
�It�s awesome that you can do some work or sell something online, be paid in Bitcoin and now buy some delicious cake on Wind Street!
"Bitcoin has become a real force globally and it is only a matter of time before people see it as part of their everyday lives. Most people don�t understand how internet money works right now, but then a few years ago no-one had heard of the internet either.
�It�s a huge boon for TechHub businesses too, as Bitcoin, once exchanged, can be used directly to pay for an entrepreneurs rent here.�