Bitcoin Depot Becomes Largest ATM Network Worldwide
Bitcoin Depot recently announced that it has expanded and now has over 500 ATMs worldwide. This milestone now makes Bitcoin Depot the largest Blockchain ATM network globally. The Georgia-based company is headquartered in Atlanta and has over 100 ATMs in that city alone. Bitcoin Depot is also the fastest growing multi-cryptocurrency ATM network worldwide.
An increase in demand for in-person cryptocurrency transactions is driving the growth of the Bitcoin ATM industry. (Bitcoin ATMs are also known as BTMs or Bitcoin kiosks.) It’s hard to predict whether Satoshi Nakamoto could have anticipated the emergence of Bitcoin ATMs over 11 years ago when he first launched the Bitcoin blockchain, but Bitcoin kiosks serve a much-needed purpose to get Bitcoin into the hands of users quickly and easily.
From a press release recently published on CISION PR Newswire,
“With the addition of over 200 ATMs in the past quarter, Bitcoin Depot continues to contribute to the growth of the Bitcoin ATM industry in leaps and bounds, projecting it will surpass 1,000 ATMs by the end of 2020.”
Bitcoin Depot CEO, Brandon Mintz had the following to say,
“The expansion of Bitcoin ATMs increases acceptance and use of bitcoin for financial transactions and makes everyday transactions easier for everyone.”
From the Bitcoin Depot website, “Buy and sell Bitcoin, Litecoin, and Ethereum at our Bitcoin ATMs instantly with cash.” Of the dozens of states listed that have Bitcoin ATMs, some states included on the list are Texas, Kentucky, Maryland, and Virginia. Some ATMs allow users to both buy and sell bitcoin, other ATMs only allow purchase. Check the location information on Bitcoin Depot’s website for details on an ATM you plan to visit.
Bitcoin ATMs definitely fill a need, enabling interested users the ability to conveniently buy bitcoin and other cryptocurrencies, particularly since solo Bitcoin mining has been out of reach for many years for typical crypto users. Centralized exchanges might be a more desirable way to buy bitcoin in terms of lower fees, but Bitcoin kiosks allow more instantaneous purchase. These decisions always involve a delicate balance between convenience, cost, privacy, and security.
At press time, according to Coinmarketcap.com, the three cryptocurrencies that Bitcoin Depot enables purchase and sale of were priced as follows:
- Bitcoin $9,834.27
- Ethereum $221.45
- Litecoin $73.51