Why Bitcoin ATM is increasingly widespread?

[db-zz]

Why Bitcoin ATM is becoming widespread?

Written BY DOBI

Overview

Either you are nobody of bitcoin or an enthusiastic of crypto currency investing, you must be familiar or at least of no strange to Bitcoin ATM or crypto currency ATM.
As is mentioned everywhere, like in this article “Beginner's Guideline: What's Bitcoin ATM and How to Use Bitcoin ATM?”, crypto currency ATM provide cash deposit and withdraw service as well as buying/selling crypto coin with cash by connecting to exchange or other crypto trading platform.
It’s no strange that you see Bitcoin everywhere in USA, like in coffee bar, shopping mall, railway station, etc. Because the cryptocurrency ATM industry is dramatically growing and cryptocurrency and bitcoin ATM is tend to wide adoption.
https://i.redd.it/qjpxcuk0bzj11.png
CoinatmRadar reported over 3500 bitcoin ATMs worldwide with surging increase from 2017. And there are more than 31 manufacturers and over 400 operators worldwide at the mid of August.
Obviously as crypto currency is on the trend, bitcoin might work as fiat money as we use today. Crypto ATM is becoming prosperous in diversity. The majorities of us are so excited about the Bitcoin ATM.
But do you know where the excitement comes? Absolutely because it has so much practical use to the industry and users.
For your better understanding of cyrptocurrency and bitcoin ATM, here I listed some of the advantages of Bitcoin ATMs.

Advantages
1. To bitcoin ATM Uses

• Convenient：Buy bitcoin or other coins anywhere easily

Bitcoin ATM works as an alternative of exchanges, provide very easy access for anyone to invest in crypto world. Instead of the troublesome process trading on exchange platforms, users just need to use insert cash and buying directly. No bothers to send driver license, or phone numbers for ID verification.
- No risk of personal information leakage thanks to decentralization
It’s decentralization. Buying bitcoins anywhere seems the most attractive functions, but its value actually consist in its decentralization with blockchain technology. As it all known that blockchain is anonymous which allows cash to bicoin converting with risk of no bank account or identity credential. Bitcoin ATM doesn’t collect personal information after all. Here is how transaction goes on bitcoin ATM: Cash,ATM, Phone wallet（cold wallet），Trade done

• Bring blockchain to real life

Most of the majority of us really don’t understand the “encryption algorithm technology keeps our asset safe and the “mining” and “Peer-to-peer” network brings the bitcoin address out in the blockchain world. Nor do we know about the complex k line in digital exchange platform which needs some financial knowledge. This drags the wide application of blockchain technology like what internet does. But bitcoin ATM does help by bringing them into real life. Bring the blockchain or complex digital exchange to daily use. No exchange, no the so cold

​2. To Bitcoin ATM business startup

• - Growing Popularity

Growing Popularity means demands which in return boost Bitcoin ATM trading.
The crypto market is expanding. Every day, new investors are learning about the advantages of blockchain technology. This demand is creating a unique opportunity for savvy entrepreneurs looking to position themselves in the market before mainstream adoption. Bitcoin ATMs bring a new level of convenience to the crypto market, by allowing any individual to purchase crypto directly. This is also an increase of cryptocurrency awareness which therefore will boost the whole industry.

• - Low-cost to enter crypto startup world

Some crypto-ATM watcher hesitate to start the business due to the high cost like in software, hardware and maintenance fee, etc. But this is the most cost-effective project in the blockchain world, compared with crypto mining, digital exchange. No much high electricity to mine BTC. Currently, an average cost of one single bitcoin is $4758. No need to hire a lot of staff, no additional hardware, etc. Check out this article if you have no idea what the cost to start up bitcoin ATM business. ( ********)
As it is already known that bitcoin ATM cost mainly comes from hardware, software, connection to hot wallet. Let’s have a look at how bitcoin ATM saves your startup cost:
Bitcoin is purchased from exchange and transformed to Bitcoin ATM. Most bitcoin ATM preprogramed with exchange and you don’t need to stock a hot wallet. This is where the startup cost save. Because most bitcoin ATM manufacturer also have business in digital exchange, wallet, etc.
Another one is that compared with other sectors in blockchain world, the Bitcoin ATM business is the most low-cost and most suitable for you to get started in crypto currency. To start an exchange, you need ****; as for mining pool, the electricity is horribly high. It’s reported on news that to mine. One BTC cost $1900 electricity. This is a huge amount which is not the norm of us can afford.

• - Direct Access to ICOs

In the crypto sphere, there is many ICO demand from token projects. Bitcoin ATM provide access to purchase BTC, ETH and LTC, etc. Besides directly connecting to exchange, token companies would love to list their coins in bitcoin ATM for the sake of ICO as well as branding. Eventually, the access to ICO finally add more business and trading on your bitcoin ATM so as to earn more liquidity and profit.

​Summary
You must have founded that there’s little mention on its disadvantage. I personally don’t see any. If there has to be, then it’s the fees that everybody complaints about. But I believe people would willing to buy convenience even with 10% fees. Just like the tradition ATMs do. It’s a time problem.
From the user’s side, bitcoin ATM is convenience and easy to get in real life; From the Bitcoin ATM business startup, it’s low-cost and its indirect ICO access provide the ease to entering crypto world.
Overall, crypto currency ATM helps solve the problem of; and the adoption of cryptocurrency and blockchain by bringing it to real life. Everybody can use crytocurrency and everyone knows and habited to use it just like the internet. This is the real essence of crypto currency.
Only the concept solve problem and be widely used that lasts. And only you can decide if a Bitcoin ATM is the right or not.
​
DOBI ATM is an excellent software developer and hardware manufacturer.
Twitter: https://twitter.com/AtmDobi
Website: http://www.dobiatm.com/dobiatm.html

Related Articles:
Beginner's Guideline: What's Bitcoin ATM and How to Use Bitcoin ATM? https://www.reddit.com/user/DOBI-ATM/comments/98qeku/beginners_guideline_whats_bitcoin_atm_and_how_to/
DOBI ATM-the world best bitcoin ATM Manufacturer https://www.reddit.com/user/DOBI-ATM/comments/97ozyn/whos_dobi_atm/

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1714786543

[anitaraymonds]

The bitcoin ATM widespread is good omen for the crypto family as this has also increased the awareness of bitcoin world wide and the demand of bitcoin will also increased and as the demand increases so will the price increase and  so the P2P  transaction which is the main reason of bitcoin from the beginning. There is a great need for the ATM to continue so that the deployment can reach everywhere just like normal fiat ATM. We are optimistic that bitcoin will over the time be legalized in some the countries that are bringing regulations and outright banning of bitcoin will have no other alternative than to accept bitcoin and other crypto currencies.

[7jaka7]

Great post. I didn't know that there are so many bitcoin ATM's already. Good to see this.

About high fees on ATMs. I think they will lower with time and more competition. Nowadays there is still relatively small number of them but imagine having 5 different ATM's in the same street. People will chose the one with the lowest fee.

I've talked to one of the operators of ATM's he said the problem is you constantly need to monitor ATM's for cash in them. Then you need a worker to go there, empty it or fill it (pretty ungrateful job, since you are dealing with relatively big amounts of money). And this whole process can be quite annoying since you can have ATM emptied/full in a day or in couple of weeks. And it's best for ATM's to work 24/7/365 otherwise costumers might be dissatisfied very fast. So this is one disadvantage for operators.

Another one can be overload of blockchain which results in very high fees and operators can quickly start losing money instead of earning.
Example: In December we saw spike in BTC fees, and they went up to 5$ or maybe even more. Now imagine someone who is buying 20€ worth of Bitcoin. 10% (which is relatively high) is 2$. So operator actually lose money.

This company came out with another idea. Selling BTC/crypto OTC on already existing bussineses. Check it out: https://locoins.io/. I think this can spread very fast to, as it is easily scaleable, starting investment is very low even compared to ATM's. Of course it has it's own disadvantages - not 24/7, not 100% anonymous etc.

[BitcoinMaster555]

this calculation are very simple that as per demands supply also increase so here the case is same demand of crypto ATM is increasing among the investors and because of that reason the amount is also increasing

[SparklesCoin]

bitcoin ATM extensive is good sign for the crypto people. its also increased the awareness of bitcoin world wide.thats why demand of bitcoin will also increased. as a result bitcoin price increase.

[CanyonsBull]

bitcoin ATM is good sign for the crypto. its increased the awareness of bitcoin world wide.thats why bitcoin demant will increased amd bitcoin price also increase. its future are bright.

[butterfly8226]

bitcoin ATM is very good sign for the crypto. its also increased the awareness of bitcoin and demand of bitcoin will also increased. as a result bitcoin price increase.

[bitcoinhunter888]

Bitcoin ATM us the very good initiative, it can make a positive change in crypto world. It has rise the awareness of bitcoin around the whole world. Because of it demand of bitcoin rise more. Users are get huge advantage because of it.

[Ebeano]

I strongly  believe that the implementation of bitcoin  ATM world over will significantly increase mass adoption.

[cryptofun888]

Botcoin ATM is the best initiative by bitcoin. It helps the p2p transaction which is the major demand of bitcoin users. It provide a lot of facility it can easily change the fiat currency to bitcoin and vise versa.

[BumblingBee]

Bitocoin ATM is essential because it make the transaction process more easy. Investor demand it I think lot of people join because of ATM. The value of bicoin increase more. Most importantly bitcoin spread quickly.

[bitcoindiary]

Bitcoin ATM's popularity is increasing day by day. Bitcoin ATM has a worldwide popularity. This Bitcoin ATM will increase Bitcoin's demand and its price will increase soon I hope. Bitcoin ATMs is a very important issue in the transaction with cryptocurrency.

[kojoannan]

Bitcoins ATM business is booming like exchanges because of the super normal profit they are enjoying from the fees they generate from trading transactions. The same way Bitcoin ATM is making money from the deposit and withdrawal fees. As traders too are getting it easier getting access to their coins at a convenient way.

[bitcoindigger71]

Bitcoin ATM is an important issue for p2p transactions. Hopefully within a short time the Bitcoin ATM will be spread all over the world. And Bitcoin ATM will accept as legal. And all other cryptocurrency will realize its potentialities.

[larkscrypto]

Bitcoin ATM is a new subject in the family of Cryptocancies, but its popularity is skyscraper. So, within a short span of time, the popularity of bitcon ATM will help to increase Bitcoin prices and demand.

[GhostKnight]

After knowing that we have 3661 BTC ATM booths worldwide, it just blew my mind. I couldn't imagine BTC will become so much publicly it is growing since 2016. This sort of features will allow many people getting interested in BTC market.

[CheeryPenguin]

BTC is involvement is already growing at a satisfying rate and there are many stores which support BTC as payment. A facility like Bitcoin ATM will add a great value as people prefer using ATM as it is a great link to fiat currencies.

[SummerHamster]

BTC ATM facility gives a great potential of spreading BTC usage at a satisfying rate. Many markets are already taking BTC as exchange and now when BTC can be converted into fiat in such an easy way, it would create a really good hype.

[vnck25]

I think people are really into buying bitcoins, here in USA there are many BTC ATMs coming up to support the demand for Bitcoins. Even though the market is down many people are buying BTC. There are Craigslist posts on selling BTC ATM machines supporting the fact that there is a demand for these types of ATMs. Its simply easy to go to an ATM pay using their card and buy Bitcoins rather than opening an account with an exchange and buying BTC there.

[SafeCamel95]

If bitcoin ATM increase gradually worldwide that should be increase the growth of popularity rapidly. And people can easily hold bitcoin.