Tuesday, January 12, 2016

Netcoins Launches in Vancouver, Announces Partnership with Gateway Newstands

Netcoins has launched its first series of "virtual" Bitcoin ATMs, starting in participating retail stores in western Canada. 

The ATMs run on a tablet, computer, or mobile device at the store checkout, and customers have the ability to buy Bitcoin using cash or debit cards. 

Netcoins is in the midst of a Canadian rollout, and is currently accepting a waitlist for stores in the United States that would eventually like free access in their stores to a Netcoins virtual Bitcoin ATM. 

"The Netcoins team is excited to be launching in our home city of Vancouver, and we thank everyone for their wonderful support in our journey to launch!" says Michael Vogel, CEO of Netcoins. 

In addition to Vancouver, other stores included in the BC launch include Coquitlam, Surrey, Victoria, and Kelowna. 

"Our Toronto launch is imminent," adds Vogel. 

The launch also coincides with Netcoins announcing a partnership with Gateway Newstands, which is piloting the virtual ATMs in its two BC locations.

"Physical Bitcoin ATMs are incredibly popular, in some cases selling $20,000 of Bitcoin every month, however the high machine cost and space requirements put them out of reach for most retailers", says Vogel. "The Netcoins solution allows any retailer to sell Bitcoin without any barriers-to-entry. We look after all the heavy lifting, and can set new stores up within 10 minutes."

Netcoins was originally co-founded in 2014 by brothers Michael & Dominic Vogel. The company took part in cohorts in Vancouver's "Spring Activator" and Coquitlam's TriCelerate startup accelerators.

About Netcoins:
Netcoins turns any device into a Bitcoin ATM (mobile, tablet, PC). It's a Virtual Bitcoin ATM for retail stores. Smart retailers are discovering that a Bitcoin ATM is a great way to attract an "ideal"​ tech-savvy / high income demographic, especially in an age when these customers typically shop online. Netcoins offers no-cost entry for retailers into the Bitcoin space.

About Gateway Newstands (via Gateway website):
Established in 1983, Gateway Newstands has over 500 stores throughout North America. Its stores are found in 8 Canadian provinces with dominance in Ontario, and Gateway Newstands is the exclusive newsstand retailer in North America’s third largest transit system – the Toronto Transit Commission (TTC). Gateway Newstands also has over 100 US locations with concentration in New York and Chicago. Gateway has mandated merchandising programs for all categories, and is consistently rated among North America’s top 100 franchises by Entrepreneur magazine.

Here are the Netcoins virtual Bitcoin ATM additions in the greater Vancouver area.

For the full list, including Kelowna and Victoria, please see below: