Isle of Man is looking to become the European Bitcoin Hub and have welcomed all Bitcoin businesses and companies to their sovereign island, as long as they agree to follow the general regulations and laws decided by the regulators.
Now the first Bitcoin ATM's have arrived in Isle of Man, as company "Qwikbit" has received their first order of machines and are looking to install them around Europe. The countertop Bitcoin ATM's are easy to install and allows for users to exchange cash to Bitcoins instantly with small fees.
"Qwikbit has been liaising with the Financial Supervision Commission regarding our launch. Once we have the green light, we’ll install a number of automatic vending machines in the Isle of Man, and then roll out the rest of this batch in the UK," Chief Operating Officer of Qwikbit, Stan Ho said to IOMToday.
Chairman of the Manx Digital Currency Association, Charlie Woolnough also made a comment: "The arrival of the Qwikbit automatic vending machines is another step forward in making Bitcoin more accessible to the general public and establishing the Isle of Man as a domicile of choice for crypto-currency businesses"