Back

Bitcoin ATMs Rack Up to Thousands Globally

As per recent reports, the 3500 limit on Bitcoin ATMs (BATM), has been breached and over 3500 machines have already been installed globally. The aim of these machines is to facilitate easier transactions and purchases, withdrawals and deposits of cryptocurrencies to the public. Despite a global and down trending market dominated by bearish investors that have significantly contributed to the delay in ATM installation, the machines continue popping up at a steady rate.

All over

Coinatmradar recently reported the new achievement in terms of BATM installation, stating that the machines have exceeded 3500 different installments on a global scale. These machines were considered to be a perfect and new integration, most notably within the US. As a result of decades worth of experience in operating with such machines, US citizens are well accustomed to using ATMs. Additionally, installing a machine within a heavily populated location as opposed to one set avenue where users will have to go to, this provides more access and exposure by installing ATMs in several popular venues like restaurants, grocery stores, malls and so on.

These were also original plans prior to prices dropping and official government intervention was seen in regards to the operators behind the Bitcoin ATMs. Tim Curry, the lead marketer at Blockchain BTM has confirmed that local regulations do have a significant effect on the company and its operations. Additionally, he states that the company would be offering plenty of additional services to customers if it wasn’t for a hectic and tedious amount of regulations to operate under.

Bitcoin ATMs have displayed their strong potential due to the fact that many of these machines are continuously being installed and current operation, mainly focused on launching each in the US despite the current negatively operating crypto-market. The way Curry describes it is that his company has made onboarding easier than ever and allows customers to bypass any personal information usually required by banks, facilitate transactions within minutes and cutting down on several work day delays.

Almost a year and a half ago, the cryptocurrency environment was in joy over BATM breaking through the four-digit mark in global installations. More than half of the total installed ATMs around the world back more than just Bitcoin, adding several altcoins to their services. As of now, North America possesses the largest number of these machines.

As it seems, around nine of these machines are installed on a daily basis. Genesis coin and General Bytes are responsible more than half of the machines installed and most of them are planned to take a different route from fiat currencies onto cryptocurrencies. Currently, the market seems to be focused on installing machines that offer deposits and withdrawals together as opposed to a one-way operation.

2 years ago

Start Weekly Digest

Similar news