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.
Worldwide, close to 10,000 new Bitcoin ATMs have been installed since March 1, 2020.
The number of Bitcoin ATMs in the US rose 177% over the past year
U.S. citizens can now purchase Dogecoin from ATMs in 45 of the country’s 50 states.
DOGE is now supported at 1,800 ATMs in 45 US states
Crypto industry concern mounts ahead of the likely introduction of a bill to ban retail traders from cryptocurrency activities in Hong Kong.
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Crypto proponents in Hong Kong say incoming cryptocurrency regulations could preclude citizens from using Bitcoin ATMs.
Hong Kong crypto group warns new law will restrict people’s access to Bitcoin
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New machines are now coming online at a rate of nearly 1 per hour
Crypto ATMs continue to boom globally in 2020