Cryptocurrency ATM network Bitcoin Depot has announced the launch of over 350 crypto ATMs across the United States.
Over the past month alone, Bitcoin Depot deployed 355 crypto ATMs in 40 different American states. These include 40 new kiosks across Florida, 32 in North Carolina, 24 in Texas, 23 in California, and 20 in Georgia.
These ATMs are the latest of the 2,500 Bitcoin Depot has rolled out in the past six months. In that time frame, the company has more than doubled its kiosk footprint. The company expects 200% growth by the end of the year.
Number of Bitcoin ATMs worldwide is increasing
Users of Bitcoin Depot’s kiosks can exchange cash for cryptocurrency. The company’s president and CEO Brandon Mintz said that the company’s kiosks allow users “to essentially self-bank through the digital wallet on their phone, by turning their cash into cryptocurrency.” Customers can then use their crypto to transfer money, pay bills, or invest.
By March, the number of Bitcoin ATMs worldwide had more than doubled year-on-year, reaching nearly 17,000. At that point, the number of bitcoin ATMs has increased by more than 20% in 2021. The U.S. accounts for over 80% of all bitcoin ATMs, but numbers are increasing in Europe, too.
The company’s growth demonstrates the increasing popularity of cryptocurrency transactions. As much as this is reflected with crypto ATMs, other companies are enabling cryptocurrencies as a direct form of payment.
Increasing crypto payments
Last month, PayPal launched “Checkout with Crypto.” This lets PayPal’s American customers pay with bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and litecoin (LTC). PayPal’s mobile service app Venmo also launched “Crypto on Venmo.” This enables their users to buy, sell, and hold crypto within the application.
Even as companies facilitate payments in crypto, many businesses are trying to allow their customers to pay with crypto.
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