Launched in 2009, Bitcoin is the world’s largest cryptocurrency by far. It has had a steady rise and is still increasing worldwide adoption. However, because Bitcoin is a digital currency, this means users must access the internet for service. There are still many who have concerns about their money being digital. Unlike some other new technologies, Bitcoin has created a profound financial revolution that some even view as a threat to traditional monetary systems.
Understanding cryptocurrency can seem difficult initially, which is the very reason so many have abstained from Bitcoin. Potential investors across the globe have often thought the idea of digital money to be far-fetched, and the lack of a government or authority issuing or regulating cryptocurrency has sometimes been questioned. Bitcoin’s sometimes high volatility is also a consideration for potential investors. Cryptocurrencies can seem elusive investments, due to active price swings, however, this is also the very characteristic that makes Bitcoin a risk absolutely worth taking. The more significant the risk also means incredibly lucrative profits when the price swings upwards.
The Trend Of Cryptocurrency ATMs
With all of the challenges Bitcoin has faced, the currency still manages to push forward. The trend of Crypto ATM’s is changing the game for some skeptics. The fact that these ATM’s are popping up rapidly, in major cities all over the globe, and the visibility of ATM’s are enough to help encourage and convince the general public of the legitimacy of cryptocurrency. According to Coin ATM Radar, a company that has tracked Bitcoin ATMs since 2013, there were 8,452 ATM’s on October 1, 2020. By June 5, 2021 there were 17,974 Bitcoin ATM’s in the U.S. Today, there are 50,544 in the U.S. with numbers increasing at rapid rates.
With more cryptocurrency investors jumping in, these ATM’s are becoming a necessity. They offer an easy, fast, and secure way to buy and sell cryptocurrencies, gold, and convert cryptocurrencies into cash. These are just some of the services offered when using these ATM’s. Rollouts of new services are happening regularly, and soon users will be able to have an entire banking experience at these ATM’s. President of Crypto ATM powerhouse Byte Federal, Lennart Lopin says, “Our ATM’s are easy to use, safe and secure, offer a high daily limit of $21,000, and users can easily convert cryptocurrencies into cash. We are in-sync with the latest technological advances and are excited to bring even more features to our already trusted ATMs across the U.S.”
Experts believe that the rapid growth of these ATM’s will have a positive effect on skeptics of cryptocurrency. For example:
- High visual presence of ATM’s will legitimize cryptocurrency for some
- ATM’s make it easier for new users to try in a quick and secure way
- Service expansion naturally drives growth
- Partnerships between traditional ATM and Crypto ATM companies expand the reach to users that may have otherwise never been interested
The growth of these Cryptocurrency ATMs are extremely important to the impact of digital currency and its overall trends. Those who have been on board with cryptocurrencies from early on are now enjoying the ease of ATM’s and have been insightful in helping these companies come up with additional services and new technologies. The expansion of Crypto ATM’s and their services will increase visibility and therefore more potential investors will start to question and research what this cryptocurrency trend is all about.
Cryptocurrency is here to stay. Bitcoin ATMs are only going to become more advanced and trends in investments are going to continue to rise. Overall interest has skyrocketed, thanks to interest and investments from the likes of billionaires such as Elon Musk of Tesla to local Facebook friends and all kinds of companies and people in between. Major companies are showing support in more ways than one. AMC Theaters recently announced that they will be accepting cryptocurrency payments by the end of this year.
About the Author
Alexa D'Agostino is an entrepreneur, digital marketer, and content writer covering all sorts of topics on technology, business and finance. Her stories are known for highlighting the latest industry trends that impact early-stage startups as well as emerging and well established brands. She is currently CEO of The Luxure Group.