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Bitcoin ATM to go live in Tunbridge Wells as digital currency’s popularity grows

PUBLISHED: 11:15 23 October 2017 | UPDATED: 11:15 23 October 2017

Bitcoin

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Kent’s first machine will be installed in a shop selling e-cigarettes

Tunbridge Wells is to get Kent’s first ever Bitcoin ATM - giving users the chance to snap up the digital currency directly.

The device will be installed inside a shop selling electronic cigarettes after a deal was struck to house the machines in The Vapour Trail chain.

It has a store in Camden Road.

The machines will allow users to pump in real money to buy the digital-only currency and upload the funds into their Bitcoin ‘wallet’ on their mobile phone.

Currently just one Bitcoin is worth in excess of £4,000 and users can buy or sell fractions of one coin.

It has generated headlines in recent years by the value of the currency rocketing - but its value remains highly volatile. Just a year ago, one Bitcoin was worth just over £450 and experts predict its current bubble will burst sooner rather than later.

However, it is highly controversial given the currency’s use online - particularly on the so-called ‘dark web’ - where Bitcoin can be used with no need to provide personal information. Hence it is often connected with criminal activity.

And now those in Tunbridge Wells will be able to download Bitcoin at the ATM in the store for cash.

The ATM will be provided by Alphavend, which specialises in digital currency.

Explains a spokesman: “Customers who haven’t experienced buying Bitcoin before, now have the ease of simply downloading a Bitcoin wallet on their mobile phone and purchasing Bitcoin with cash at the terminal. For those already buying Bitcoin, they will no longer have to travel long distances into London or surrounding areas.”

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