An Exchange Focuses On Adoption

With an ever growing need for adoption, the desire for user friendly products is on the horizon. Bitcoin can be an overwhelming and intimidating concept to newcomers. However, one company Honeycomb, based out of Toronto, Canada has recognized this requirement and is tackling it head on.

“Our idea is to make it approachable, accessible and professional so people feel secure,”
— Antoine De Vuyst, co-founder of Honeycomb

Honeycomb launched Bumblebee Exchange on 26th May 2014, and is Toronto’s second physical two-way exchange platform. Located in the affable Snakes and Lattes, at 600 Bloor Street West, the environment is friendly and more than welcoming. The walls display shelves neatly stacked with every game you could possibly imagine. For just five dollars, a consumer can take over the world in Risk or drop a cage in Mousetrap. Snakes and Lattes was the first of its kind and is still rated in the top twenty of Toronto’s board game café’s.

It was here that Honeycomb pitched their idea of sharing the space, by placing Toronto’s first Robocoin ATM, a physical Bitcoin online trading platform, in the front of the cafe. As the owners of Snakes and Lattes are seasoned early adopters, their interest in Bitcoin could be seen by Honeycomb. As a result, not only can you grab one of the greatest coffees in Toronto, at the original board game cafe, while sitting down to your favourite game with a group of friends, but the user friendly Robocoin machine is there to attract both new and seasoned Bitcoin enthusiasts alike.

When Honeycomb decided to purchase their first ATM, they wanted it to be easily utilized by everybody, especially non-techie people

.  “We want people to feel at ease with bitcoins and buying them,” says De Vuyst. The exterior design has exactly this in mind. The clean angles, soft orange hues highlighted with yellow, and the easy three step process posted on the wall, anyone can give it a go.

The user interface of the Robocoin ATM also embodies these desires. With an easy and secure touch screen system, any novice will have a smile when purchasing their first bitcoin or satoshis. Now located in 13 countries around the world, the two-way machine allows for buyers and sellers to complete their transaction within minutes. At present, the Bumblebee Exchange is accepting Canadian dollars for bitcoin, however, the technology is there to read other notes such as the Euro.

An initial purchase with BumbleBee Exchange is simple, the challenge is understanding how and where bitcoin can be used. With the price of the currency increasing new adopters will be incentivized to use their newly acquired coin.  “If they have them sitting there, they will be more motivated to use them,” continues De Vuyst.

The popularity of the BumbleBee Exchange was noted at their launch party on 26th May 2014. A happy line of customers sipped on discounted beverages, if purchased with bitcoin. Waiting patiently for their first introduction to the Bumblebee Exchange’s Robocoin, multiple journalists and many local Bitcoiners made their way out to support the new business.

“Welcome to the neighbourhood Bumblebee!”
— Bitcoin Decentral

De Vuyst reports that their new exchange saw $25,000CAD in volume in their first month alone, a fantastic financial representation of their success.

Bumblebee Exchange represents more than just an online trading platform. At Snakes and Lattes, it can be noticed that Honeycomb’s logos have integrated dice, a beautiful visual of two businesses working together. De Vuyst is thinking of other ways that Honeycomb can integrate their branding into the local communities. Something with bees perhaps? Watch this space.

Please note that the machine is not owned by Snakes and Lattes. If you have any questions regarding the Robocoin ATM, contact Honeycomb on [email protected]

B.Holmes

B.Holmes, author of The Range of Illusion and The Private Key instalments, is currently located in Thailand, researching and writing about crypto. You can follow B.Holmes on twitter @BanteringB, or contact via email: [email protected] B.Holmes will accept tips via:

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