Tucked away in the corners of grocery stores, gas stations and transit hubs, Bitcoin ATMs are part of the “critical infrastructure industry” that is still able to operate amid the coronavirus contagion event. And some are thriving.
With blockchain-based payment applications and entertainment platforms seeing a boost in users with people spending more time online, cryptocurrency ATMs and bitcoins, the physical manifestation of this network seems like an unlikely complement to this one. market growth. Despite extensive confinement decisions aimed at keeping people indoors. Some bitcoin ATM operators report an increase in transactions, while others take advantage of this in-between to expand their networks.
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Maybe you have a Bitcoin ATM nearby
Perhaps people are scared and are preparing for the most immediate way: the nearest ATM. Bitcoin-related Google searches are skyrocketing. But for those who are intimidated by the world of wallets, private keys and QR codes, Bitcoin ATMs (sometimes called BTMs) provide convenient access to these “safe haven” assets.
Even during a global pandemic, and perhaps even more so, Bitcoin point of sale services meet the essential needs of our customers to participate in this next generation of banking, remittances and e-commerce..
Marc Grens, co-founder of DigitalMint
Approximately 95 percent of DigitalMint machines are located inside or outside essential businesses and are still accessible to the public. While the company has seen a “slight decrease» in general volumes. Grens said that «we are still generating a constant amount of traffic from new and existing clients, even during closing«.
Since March, DigitalMint has expanded its kiosk and teller services to a few dozen new locations in Boston, Los Angeles and Philadelphia. According to Coin ATM Radar, the total number of ATMs has increased 5,6% to 7.417 machines in April, up from 7.023 in March.
Similarly, LibertyX, which received a “BitLicense” to operate in New York last year, has finally begun expanding to locations in the state. “We’ve gone from zero to several hundred ATMs in just over a month,” said CEO and co-founder Chris Yim. Including expansions across the country, LibertyX has added roughly 1.000 new machines in the past two months.
