As the crypto revolution continues to change markets and industries, one industry has established itself as a vital component of cryptocurrency adoption. That industry is Bitcoin ATMs. Cash is no longer king, as crypto-ATMs are looking to convert physical fiat into digital gold. One state, California, has quickly become the biggest hub for crypto-ATMs, making up for 20% of all bitcoin ATMs in America.
This year bitcoin ATMs have already doubled their record from 2017. The bitcoin ATM industry recently reached the 3,500 marks with an install rate of over 7 ATMs per day. That number is expected to reach 5,000 by the end of the year as more and more companies join the already competitive industry.
This year bitcoin ATMs have already doubled their record from 2017. The bitcoin ATM industry recently reached the 3,500 marks with an install rate of over 7 ATMs per day. That number is expected to reach 5,000 by the end of the year as more and more companies join the already competitive industry.
California, which currently has 436 ATMs, is the number 1 destination for Bitcoin ATMs. The market is so attractive that one company added 20 ATMs in a month. Based in Atlanta, Bitcoin Depot has over 150 ATMs making it one of the largest bitcoin ATM companies in the world. With over 50 ATMs in Atlanta alone, the company saw a need to take over the California market. “California has always been the front runner of technological adoption,” commented Brandon Mintz, president of Bitcoin Depot, “we realized that we had to move into the LA and San Diego markets as quickly as possible.” The company is serious about the expansion as they placed 17 ATMs in the Los Angeles, including Anaheim, Oxnard, and Pasadena as well as 3 ATMs in the San Diego area in the month of July alone.
Bitcoin Depot strongly believes cryptocurrency ATMs play a vital role in crypto-adoption. One of the more overlooked demographics is those without access to a bank account. Bitcoin ATMs provide the benefits of cryptocurrency that the underbanked demographic would not have access to such as having a place to store wealth as well as an easy money transfer solution. With an average of 350 ATMs installed each month, it’s not far fetched to believe that in less than a decade we could see an ATM in half of all convenience stores in America, and Bitcoin Depot supports this idea.
For more information, visit: support@bitcoindepot.com
Watch a Demo of a Bitcoin Depot ATM via BCH Association.
Video Link: http://www.youtube.com/embed/G3eKXfPtGDA
Media Contact
Company Name: Bitcoin Depot
Contact Person: Media Relations
Email:Send Email
Address:2870 Peachtree Rd NW #327
City: Atlanta
State: GA, 30305
Country: United States
Website: BitcoinDepot.com
