By A recent announcement of a deal between a traditional ATM manufacturer & a BTC crypto vending machine company will enable crypto enthusiasts with the ability to purchase bitcoin at tens of thousands of places in the US using a debit card.
Genmega an ATM manufacturer and LibertyX a Bitcoin ATM company have joined forces in a partnership which will usher in 100,000 locations in the US where consumers will be able to purchase bitcoin using a debit card.
It must, however, be noted, that due to the fact that Genmega caters mostly to independent ATM deployers. Adding bitcoin buying as an option will depend on the willingness of the operators. Operators which are interested only have to make an application whereby a software upgrade will be made which will allow users to purchase bitcoin and transfer between said ATM and their crypto wallets.
Usability & Ease:
This development will be a blessing to any new investors as the process of purchasing bitcoin from these special ATMs will be very similar to drawing fiat from a vending machine. Ensuring that cryptocurrency vending machines are user-friendly has been a number one priority for LibertyX since they were founded, according to the Bitcoin ATM firm.
Chris Yim, co-founder and CEO of LibertyX had this to say in a statement:
“We have been working tirelessly to make it easier to buy cryptocurrencies for the last five years and now are bringing simplicity, convenience and trust to the cryptocurrency purchasing experience.”
The number of bitcoin ATMs in the USA currently sits at nearly 2230, making it the highest amount in the world and major metropolitan areas such as LA. Miami, Atlanta, New York & Chicago are leading the charge with up to as many as 100 bitcoin ATMs in each respective city. The US is also home to the Genesis Coin Inc which is the world’s largest & most successful bitcoin ATM manufacturer and they have a whopping 32% market share.
USA To Continue Leading The Charge:
There are a number of factors that have been the cause of the United States being the leader in the Bitcoin ATM market. One of them, is the high level of cryptocurrency adoption and awareness. A recent market research report revealed that this will continue to be the case for the US in the near future.
A crypto ATM market research report released in August reported:
“The US is expected to continue to dominate the crypto ATM market during the forecast period owing to the presence of a large number of crypto ATM hardware and software providers and favourable investment environment (without any legal barriers)”
Of course, it will remain to be seen just how big a portion of the 100,000 Genmega ATMs will be converted to bitcoin purchasing but even the smallest percentage will notably increase the number of Bitcoin ATMs in the world and of course the US.
Currently, the number of bitcoin ATMs in the world sits at around 3800 with an average of about 5.58 being added every day.
With the US leading the charge on bitcoin ATM adoption and this deal between Genmega & LibertyX coming into play, could this spark a global interest in bitcoin ATMs? Let us know your thoughts by leaving a comment below.
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