Cryptocurrency is no longer a niche industry; rather, it has become a household term. Whereas bitcoin ATMs were once uncommon, they are now appearing everywhere as people of all ages embrace bitcoin in these uncertain economic times.
The ATMs were supposedly distributed throughout the United States, making conversion and withdrawal more easier. Bitcoin Depot, a cryptocurrency ATM provider, has just released additional teller machines around the United States.
Bitcoin ATMs present a significant opportunity not only for users but also for retailers, since deploying one of these machines may often increase both their bottom line and their brand.
A cryptocurrency ATM is a physical machine that allows individuals to purchase cryptocurrencies using cash and a debit or credit card. Some are bidirectional and allow for the exchange of digital currency for cash. One issue about the increasing network of crypto ATMs is that they can be used for money laundering.
According to CoinATMRadar, there are about 11,665 crypto ATMs across the world that allow users to purchase and sell Bitcoin and other cryptocurrencies for cash.
This indicates a significant increase in the number of crypto ATMs over the previous year. The number of crypto ATMs was expected to reach 6372 by the end of 2019; currently, there has been an almost 80% growth.