A deal between a conventional ATM manufacturer and a cryptocurrency coin machine firm can create it possible to buy bitcoin at tens of thousands of locations in the united states using a debit card.
Bitcoin ATM firm LibertyX and regular ATM manufacturer Genmega have forged a partnership which will build it possible to buy bitcoin using a debit card at up to 100,000 locations in the united states.
However, since Genmega caters mostly to the independent ATM deployers, adding the bitcoin-buying feature at the ATMs will depend on the willingness of the operators to offer the service. After creating an application all that will be needed will be a software upgrade so as to allow users to buy bitcoin from the vending machine and have it sent to their cryptocurrency wallet.
Ease of Use
The development are going to be a boon to new users particularly since the buying method of bitcoin from the ATMs isn't terribly different from withdrawing money from a vending machine. According to LibertyX, creating cryptocurrency vending machines user-friendly has been a high priority for the Bitcoin ATM firm since it was founded.
“We have been operating tirelessly to make it easier to buy cryptocurrencies for the last 5 years and currently are bringing simplicity, convenience and trust to the cryptocurrency purchasing experience,” said Chris Yim, the co-founder and chief executive officer of LibertyX, in a statement.
Currently, the amount of bitcoin ATMs within the united states is almost 2330, that is the highest in the world, with major urban areas like los angeles, Miami, Atlanta, Chicago, and new york leading in coverage with over 100 vending machines in each town. The united states is also home to Genesis Coin inc, the world’s leading bitcoin ATM manufacturer with a market share of more than 32, according to Coin ATM radar.
U.S. Dominance to Continue
Various factors have contributed to the united states being the leader with regards to Bitcoin ATM coverage and this includes the high level of cryptocurrency awareness and adoption. A recent market research report has indicated that this will continue to be the case in the predictable future.
“The United States is expected to continue to dominate the crypto ATM market throughout the forecast period owing to the presence of a large number of crypto ATM hardware and software suppliers and favorable investment atmosphere (without any legal barriers),” a crypto ATM market research report released in August.
Though it remains to be seen what portion of the 100,000 Genmega ATMs can adopt the bitcoin-purchasing feature, even alittle percentage would greatly increase the quantity of Bitcoin ATMs not simply in the united states but globally. At the moment the number of Bitcoin ATMs in the world is a little over 3,800 with an average of 5.58 bitcoin ATMs being added daily.
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