The Rise of Bitcoin ATMs Across the World
In the last two decades, we have already seen the utility and impact of ATMs with respect to fiat currencies. However, since crypto, BTC in particular, is experiencing exponential growth, we can observe how Bitcoin ATMs are becoming mainstream.
Just to set the perspective here, the amount of Bitcoin ATMs has exceeded 5000 as of now, and the number is only expected to grow. As one can imagine, more than 50% of these machines are installed in the US, and the convenience store owners are eager to boost the number for increasing their sales by adding feasibility for their customers.
One of the primary reasons as to why people use Bitcoin ATMs is that it allows friendly feasibility for buying the coins with a debit card as well as cash. As soon as the order is executed, the amount is sent to your associated wallet. Users can also sell their BTCs and get the equivalent amount of cash from these ATMs. While this ‘kiosk’ resembles closely with a regular ATM, there is a variety of features that make it stand out of the competition.
As of yet, there are only a handful of Bitcoin ATM manufacturers and therefore, the prices are a bit higher. However, as the number of manufacturers increases, and the competition grows, the transaction fee is certainly going to be reduced.
It is worth noticing that ever since its launch, Bitcoin has been a trendsetter in the crypto industry. Therefore, it is just the beginning, and we can expect to have hundreds and thousands of ATMs across the World, thus serving the users of other tokens as well.