FinancialCentre Reports – Bitcoin ATMs Increase By 260% In A Period Of One Year

London, UK, 4 Sep 2021, ZEXPRWIRE – For the last few years, we have seen that Bitcoin has started becoming increasingly popular. Every now and then people keep talking about digital tokens. Data from May 2021 suggests that crypto owners living in America only are 46 million and this figure is going up with the passage of time. This rise in popularity is mainly attributed to the high-level anonymity and low transaction fee but FinancialCentre Broker David Horsley says that it has a lot to do with the highly promising nature of Bitcoin. Exchangers these days are well aware of the fact that digital tokens hold the potential of making someone rich in a  period. 

Whatever benefit attracts anyone, one thing remains decided that the popularity of coins that have no physical presence is on an all-time high these days. Investors wish to invest more and others want to know more. This is a great sign because our next generation is already taking into account new and profitable ways to make money but it should not be forgotten that bitcoin brings a lot of risks in luggage. Every now and then we see news from different parts of the world explaining who looted whom and how. With all this criminal activity, one should always remain cautious about scammers and make no move unless they are sure they are not being trapped. 

Bitcoin Everywhere?

It needs to be figured out if all the new investors are well aware of the risks but one thing seems to be inevitable which is the wide use of Bitcoin. Back in the time when Bitcoin was struggling to become what it is today, many experts started voicing their opinions about Bitcoin being the next big thing. They said one day it will be able to replace the current dollars and Mr Horsley says we might be heading towards that time. 

Today we hear news of huge companies like PayPal making announcements that they will not only allow selling but also holding cryptos. It should be kept in mind that PayPal is not the first or one of the first few companies to make similar announcements. In fact, firms like Microsoft and Amazon have already started accepting payments in Bitcoin. Mr Horsley says that although we might be actively approaching a time where Bitcoin will replace fiat there remain some issues that need to be addressed before. One of them is coming up with more green methods to mine them. Apart from this, the rules and regulations for Bitcoin’s use should not “kill” the meaning of crypto. Both these might sound something small or trivial but in reality, these two have impacted the price of Bitcoin negatively and hence the entire industry in the past.

The ATM Count

These hindrances remain in place and despite rising concern about the two, the use of Bitcoin is soaring high.  There are many parameters to weigh how much the use of Bitcoin is enhancing and one of them is the  Bitcoin ATM Count! 

With an increase in the use of tokens, the number of ATMs has also increased. ATMs let users buy Bitcoin without any extensive procedures and a bank account. It has been reported that in August 2020 the number of Bitcoin ATMs was around 9110 and this month, after a year, this figure has gone up to 24572 which is 260% more than what it was a year back. These machines are made functional by 600 different firms. One such firm is Bitcoin Depot which is a market leader and currently sits on a market share of 15.8%.

Mr Horsley explained that Bitcoin ATMs are there to facilitate users who do not wish to or simply cannot involve banks or even the ones who do not have an internet connection reliable enough. Such individuals can use ATMs to purchase Bitcoins. In order to make use of these, it is important that the users first create a digital wallet and then sign up through one of the ATMs installed. The entire procedure takes a few seconds and for amounts less than $250, all the information you need to provide them with is your phone number. Some companies offer Bitcoin only ATMs while others let you pick from a wide range of options such as Ethereum, Litecoin, Dogecoin, etc. 

This rise in the number of ATMs clearly shows that the tokens are attracting a lot of attention. It should be kept.in mind that these ATMs charge between 5-30% per transaction which is something that needs to be brought down. These machines let users link to wallets or exchanges and at the end, you are given a receipt that has a QR code. These QR codes can be used to transfer coins. 

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