Within a year, the number of BTC ATMs in the United States almost doubled, which shows that the demand for convenience of retail investors is growing.
With the popularity of BTC, BTC ATM machines are blooming everywhere in the United States. These ATMs provide anyone with a convenient and smooth BTC buying experience and meet the growing demand, but they also have shortcomings.
According to data from the independent research website How Many bitcoin ATM, in less than a year, the number of BTC ATMs in the United States has more than doubled and now exceeds 38,000.
According to CBS7, in West Texas, BTC ATMs have appeared in gas stations and grocery stores. With these ATMs, customers can easily exchange cash for up to $18,000 in BTC. In the report, a store owner said that these machines also brought business, because customers often buy other products in the store.
Quad Coin, the company that operates these machines in West Texas, told CBS7 that the simple and convenient BTC purchase process has increased demand, and the company has also drawn up an expansion plan.
According to a report from Reuters in March, Quad Coin founder Mark Shoiket stated that there is a demand for BTC, and people want BTC to be everywhere, so he founded the company. He understood very well. According to the report, ATM machines can provide convenience, allowing people to quickly buy BTC anytime, anywhere.
Based on the growing demand and successful deployment examples, the convenience store chain Circle K announced yesterday that it has cooperated with Bitcoin Depot, a BTC ATM company. This cooperation will bring BTC ATM machines to Circle K’s US and Canadian stores. Currently, more than 700 ATM machines have been installed in place.
However, there is a price behind convenience. In the case of purchasing BTC through ATM, the purchase cost consists of fees and identification procedures. Some operators’ ATM transaction fees are as high as 30%. For small purchases, ATMs will be verified by mobile phones. If it is a large purchase, the ID card will be verified.
BTC has the advantages of a free market structure and economic incentive mechanism, and has a variety of different purchase channels, which stands out among many currencies. For example, BTC has a peer-to-peer market that provides purchase opportunities for privacy-conscious individuals, while regulated exchanges can provide online buyers with more convenient usage scenarios. There are now different purchase methods, encouraging self-custody, which may further promote the BTC usage rate.
The content of this article comes from bitcoinmagazine
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/btc-atms-are-growing-rapidly-to-meet-retail-demand-and-promote-mainstreaming/
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