Bitcoin ATMs: One of the Most Bullish Moves in Crypto

A Brief History of the Bitcoin ATM

Bitcoin ATMs are starting to pop up everywhere. When cryptocurrency was still gaining its initial traction, the possibility of Bitcoin ATMs was purely speculative; that was until 2013, when the now extinct Las Vegas based company, Robocoin placed the world’s first Bitcoin ATM in a coffee shop in Vancouver. Liberty X – another company providing Bitcoin ATMs – missed the boat on releasing the world’s first Bitcoin ATM by several months but was able to release the first successful string of Bitcoin ATMs in the United States. Technically speaking; however, the first Bitcoin ATM in the United States was placed in a cigar bar in Albuquerque New Mexico, in February of 2014, by Eric Stromberg’s Enchanted Bitcoin venture, although it was removed 30 days later. Nevertheless, these first two ATMs served as the Vanguard for a wave of Bitcoin ATMs to appear in many parts of the world.

Bitcoin ATMs Today

Bitcoin ATMs are one of the most exciting inventions in cryptocurrency, because they are a physical, tangible object. Anyone can now walk into a store and buy Bitcoin (and in come cases, other cryptocurrencies) with their paper dollars, and turn their Bitcoin into paper dollars at a kiosk. These ATMs are so incredibly bullish because it takes away that level of disconnect between cryptocurrency and fiat currency for the large number of people who understand little about crypto. These ATMs install a sense of confidence and legitimacy in cryptocurrency for people, who would probably have been too skeptical to want to participate in in the complicated world of Exchanges, private keys, and wallet addresses, entirely on their computer. In a sense, these ATMs even provide an aspect of entertainment, because they make it easy for users to participate in a whole new world of finance.

The Numbers Never Lie

• There has been a reported 120% jump in the growth of crypto ATM companies, since 2020.
• 10,037 crypto ATM have been installed in 2021, beating the 7,620 crypto ATMs installed in 2020
• Crypto ATMs operate in 75 countries worldwide
• One company alone plans to install another 6,000 crypto ATMs in the us by the end of 2021

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