In the past year, due to the enthusiasm of cryptocurrency transactions, the price of bitcoin has been pushed up to $55,000 US dollars, and these dedicated transaction machines (ATM) have begun to grow rapidly in the United States. Consumers can buy and sell bitcoins at the ATM, and sometimes they can withdraw cash, making virtual currency a part of their lives. However, each bitcoin is worth a lot. The current price is about $55,000 US dollars. Be careful when trading.
Cigarette shops in Montana, gas stations in Carolina, and deli shops in remote areas of New York City have recently launched a new facility-Bitcoin ATM. People can buy and sell bitcoins here, making it more and more convenient to trade cryptocurrencies. In fact, due to the enthusiasm of cryptocurrency trading, the price of Bitcoin once exceeded $55,000, which led to the rapid growth of Bitcoin ATM withdrawals in the United States.
Bitcoin ATM in the United States
As of January this year, there are 28,185 Bitcoin ATM in the United States. In the past five months, about 10,000 people have used the ATM service. Some analysts believe that some people would rather use cash to buy bitcoins, and some people do not have a bank account, and do not want to be named, etc., will choose to use ATM to trade bitcoins.
According to Coin ATM Radar data, except for Alaska and Washington, every state in the United States now has a Bitcoin ATM. Among them, Bitcoin ATM operator Coin Cloud CEO Chris McAlary (Chris McAlary) said that 1,470 Bitcoin ATMs have been set up in the United States, and it is expected to increase to 10,000 by the end of this year.
increasing popularity of Bitcoin
With the increasing popularity of Bitcoin, Bitcoin automatic teller machines (ATM) have begun to appear next to gas stations and other stores in many areas of the United States, where customers can buy or sell this popular digital currency, sometimes even Cash can be withdrawn. Currently, more than 20,000 units have been installed across the United States.
Near cigarette shops in Montana, gas stations in Carolina, and deli in the suburbs of New York City, Bitcoin ATMs have recently been seen. Recently, cryptocurrency transactions have been enthusiastic, and the price of Bitcoin has soared, which has led to a rapid increase in the number of Bitcoin ATM machines in the United States in the past year.
According to top executives of machine operators such as CoinFlip and Coin Cloud, thousands of Bitcoin ATMs have recently been added across the United States, and the industry is also actively searching for areas where rivals have not yet reached.
Quad Coin founder Mark Shoiket said, “I guess there is demand everywhere, and people everywhere want Bitcoin.”
Shawgate recently flew to Montana to install a Bitcoin ATM. During a one-week road trip in the state, he installed a total of seven Bitcoin ATM, including the 406 Glass cigarette shop in Billings.
The increasing popularity of Bitcoin is the motivation for the industry to install more ATM machines. According to the independent research website howmanybitcoinatms.com, as of January, the number of Bitcoin ATM in the United States reached 28,185.
People don’t use physical ATM for online transactions for different reasons. Some are for cash collection, some are because they don’t have a bank account, some want overseas remittances or anonymous transactions, and some people find it more comfortable to interact with physical machines.
Some machines only provide Bitcoin, and some allow customers to invest in different digital currencies. A few Bitcoin ATM can withdraw cash, but the handling fee is higher than that of ordinary ATM or online transactions.
According to Pamela Clegg, director of financial investigation and education at CipherTrace, a cryptocurrency compliance company, the transaction fee is between 6% and 20%, and there are different charges depending on the location of the machine and the Bitcoin ATM operator.
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