ATM (automated teller machine) is an electronic device that is used by financial services to provide various operations for their customers. The most commonly used ATM transactions are cash deposits and withdrawals, transferring funds and obtaining account information. Some current ATMs are also capable of performing such operations as selling train and lottery tickets, offering an opportunity for charitable donations and retailing concert tickets. The outburst of the popularity of cryptocurrency has also influenced ATMs and led to the development of cryptocurrency ATMs. The most popular of them is, of course, Bitcoin ATMs that allow people to exchange Bitcoin for cash, but one can also find Litecoin and Ethereum ATMs. However, crypto ATMs are not an ATM in the traditional sense, as it is not connected to a bank account, but to the Bitcoin exchange itself.
The limits set by the Central Bank of Nigeria are part of a broader push to encourage digital financial transactions.
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From one Candian coffee shop to a worldwide network of nearly 39,000, crypto ATMs have turned nine years old and are only expected to continue growing.
9 years after the first Bitcoin ATM, there are now 38,804 globally
The transaction included 56 machines from Tao Bitcoin, a regional operator in the south of the United States.
Bitcoin ATM operator RockItCoin acquires Tao Bitcoin
Spain currently hosts 215 crypto ATMs, pushing El Salvador — home to 212 — down to the fourth position after surpassing the country by three ATMs.
Spain overtakes El Salvador to become 3rd-largest crypto ATM hub
Data on net changes of crypto ATM installations confirm that, in September, 796 crypto ATMs were pulled off from the global network.
Net Bitcoin ATMs growth drops globally for the first time ever