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Burton's first Bitcoin cash machine is proving a hit with the public in its first few weeks of trading in the town's Octagon shopping centre, it has been revealed.

The hi-tech cashpoint where users can exchange cash for a secure currency which can be used for online transactions was installed in The Octagon on Monday, December 10.

The machine can be found on the lower level of the centre, between Iceland and TK Maxx, and is easily identifiable with a bright orange logo on top.

Now, a little more than a month after the roll-out, the firm which supplies and runs the ATM, BTC Crown, has said there have already been at least 20 people use the machine, more than envisaged.

A spokesman from BTC Crown said: "Our ATM received a positive review online, 'good interface, easy to use and the price was really good'.

(Image: Burton Mail)

"There were more than twenty interested buyers and sellers.

"We managed to sort out all the minor technical issues.

"Generally speaking we are quite happy with the overall performance of the ATM."

Bitcoin is a type of electronic cash, with no physical object, which people can trade when surfing online.

A Bitcoin is technically a computer file which is stored in a "digital wallet" owned by the user, which can be a hard drive, smartphone or computer.

These can then be sent to others in return for goods or services, exactly the same as conventional money.

The Bitcoin system allows payment to be made online without passing through a bank or payment gateway, as it is held electronically.

There are around 209 similar machines across the United Kingdom, located at other shopping centres, pubs and elsewhere.

Centre manager at The Octagon shopping centre Peter Hardingham said: "We are always open to approaches for interesting and unusual commercialisation activity and the Bitcoin ATM is certainly a little unusual.

"I must confess the workings of the Bitcoin ATM are a bit of a mystery to me, but I assume that to those that wish to buy or sell Bitcoin or fractions of Bitcoin the principles and methods are well understood."

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